contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


nokian-tyres-outlook-unchanged-and-coming-years

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Rauli Juva

Nokian Tyres is a premium tire manufacturer. The company develops and manufactures tires for passenger cars, trucks and heavy machinery. The company also operates the Vianor chain, which provides tire and car services. Nokian Tyres' main market areas are the Nordic countries, Central Europe and North America. The company began manufacturing tires for passenger cars in 1932 and is headquartered in Nokia, Finland.

I was reflecting on the year 2025 and my own thoughts on how NR has ‘evolved’: - Paolo’s first year. I’m looking forward to the first annual report with interest - Romanian and US factories in production - Streamlining of middle management in the organization - Trimming of the sales organization - Conditional layoffs for 2026 if sales don’t pick up at full speed - Kimi as brand ambassador Quite a lineup for 2026. Oh yeah, the average price of my stock bundle is 6.02. Right now +52.66%. Not bad either

I agree regarding consumption, specifically in the Vianor region. There is no winter tire mandate in Central Europe, so this is reflected as a negative factor there.

Here is a reminder regarding the defense sector discussion about what the company said in the spring about its current significance. Of course, growth is certainly being sought and will be achieved. I think the essential points about that one order were already covered above, i.e., they are produced partly (or even mainly?) outside of Finland, and as a single order spread over several years, it is by no means game-changing for the company. It’s good if more is gained from there, and we do indeed have growth in revenue for Heavy Tyres and even substantial growth in earnings for 2027-28. Heavy Tyres are not broken down by segment, and therefore there is no forecast based on that either. However, regarding the company’s expected earnings level and thus the stock, I would argue that the development of passenger car tyres largely sets the pace.

Most of the vehicles will be built in Germany.

Mild weather specifically increases winter tire wear since no one is driving on summer tires anymore. Secondly, the slipperiest conditions are exactly around the zero-degree mark, which is the most challenging condition for friction tires. In severe frost, grip is at its best. In Finland, winter tires are mandatory starting from November.

Rauli has written a new report on Tyres.  We believe the mild early winter will weigh on Nokian Tyres’ Q4 performance, and the market outlook is not very strong for next year either. In our view, there is still potential for significant earnings improvement in the coming years. However, the stock is already pricing this in sufficiently, and thus we believe the risk-reward ratio remains lackluster. We reiterate our reduce recommendation and target price of EUR 8.25.                   Inderes              Nokian Renkaat: Markkinatilanne ja fokus hinnoitteluun rajaavat kasvua - Inderes    Uskomme leudon alkutalven painavan Nokian Renkaiden Q4-kehitystä, eikä markkinanäkymä ole kovin vahva myöskään ensi vuodelle.

I looked online and the retail price for something like that is about €2,500.  Source: https://www.rengas-online.com/rshop/Renkaat/Nokian/MPT-Agile-2/14-00-R20-164G-TL/R-453010 If the vehicles are built in Finland and those are the original equipment tires, and assuming Nokian Tyres gets, say, €2,200/tire in revenue, then for 876 vehicles with 5,256 tires, it amounts to approx. 11.5 million euros. I don’t know what the profit margin is for heavy tires, but it’s sure to leave something for the bottom line. And even if the Germans install Michelins, Pirellis, or Linglongs on them in the future, it doesn’t matter. I wonder if the deal required that the original equipment tires must be something other than Nokian? I see a very good probability here that Nokian has also received an order from this.

Nokian Tyres

We do not find the quarterly figures very interesting due to the transition phase at Nokian Tyres. However, the Q2 result was roughly in line with our expectations and the company reiterated its guidance for the full year. We see solid return potential for the company looking ahead to 2027-2028, when the Romanian plant should be in full swing. 

<p>We do not find the quarterly figures very interesting due to the transition phase at Nokian Tyres. However, the Q2 result was roughly in line with our expectations and the company reiterated its guidance for the full year. We see solid return potential for the company looking ahead to 2027-2028, when the Romanian plant should be in full swing. </p> 

	2022	23e	24e
Revenue	1,776.1	1,331.4	1,478.9
growth-%	3.6 %	-25.0 %	11.1 %
EBIT (adj.)	221.2	92.4	125.6
EBIT-% (adj.)	12.5 %	6.9 %	8.5 %
EPS (adj.)	1.14	0.43	0.62
Dividend	0.55	0.55	0.55
Dividend %	5.7 %	6.0 %	6.0 %
P/E (adj.)	8.4	21.5	14.7
EV/EBITDA	7.5	7.8	7.0

Nokian Tyres: Outlook unchanged for this and coming years

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Key Estimate Figures23.07.2023

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