Nokian Panimo

Nokian Panimo delivered a solid H2 in line with expectations, entering 2026 with a record product launch pipeline and added capacity enabling growth going ahead.

Nokian Panimo's H2 report was roughly in line with our estimates at the top line and EBITDA level, but beat expectations at the bottom. Market share gains continued across all beverage categories despite difficult market conditions, with other beverages...

Nokian Panimo reports H2’25 figures on Friday. Despite the November profitability guidance cut, we expect progress from H1 across key metrics driven by stronger demand indicators.

Nokian Panimo cut its 2025 EBITDA margin guidance due to weaker-than-expected profitability after the summer season. Before the profit warning, our estimates were already at the lower end of the earlier range. We cut 2025E EBITDA by ~8% and reiterate...