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
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      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
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Joonas Korkiakoski

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.

Here are Rauli’s comments on European new car sales in December.  According to ACEA (European Automobile Manufacturers’ Association), new car sales in the European Economic Area were 8% higher than the comparison period in December, totaling 1.2 million units. The market has been on a slight upward trend throughout the second half of 2025. In ACEA’s statistics, the figures include the United Kingdom in addition to European Union and EFTA member countries. In the Nordic countries, development in December was mixed, with Sweden declining 9%, Norway rising a staggering 160%, and Finland declining 12%. We previously commented on Finland’s figures in this comment.                   Inderes              Euroopan uusien autojen myynti päätti vuoden selvään kasvuun - Inderes    ACEA:n mukaan Euroopan talousalueen uusien autojen myynti oli joulukuussa 8 % vertailukautta enemmän eli 1,2 miljoonaa kappaletta.

Nokian Tyres will hold its CMD in February.                   Inderes              Nokian Tyres' Capital Markets Day 2026 - Inderes    Time: 11.02.2026 klo 14.00 Language: en Nokian Tyres will host a Capital Markets Day for investors, analysts, and other capital markets representatives in Helsinki, Finland, in the afternoon on February 11, 2026.                             Apparently, the CMD is being held in Helsinki, rather than attempting to attract big money from London, New York, or Central Europe. As I understand it, the strategy, financial targets, etc., remain unchanged and will just be elaborated on further.                   Nokian Renkaat              Strategia / Nokian Renkaat    Nokian Renkaiden strategia. Kasvustrategiamme keskittyy paluuseen 2 miljardin euron kasvu-uralle sekä vahvaan kannattavuuteen. Strategia on jaettu kahteen osaan, joista ensimmäinen keskittyy uuden kapasiteetin ja toiminnallisen kyvykkyyden...                              Investments have been made and capacity increased in every geographical region. Significant debt has also had to be taken on; now production just needs to keep running and products sold to end customers.  So, it’s all down to execution now. In Inderes’ forecasts, revenue does grow reasonably every year, but there’s room for more, and profitability & return on capital are creeping upward frustratingly slowly; ROE > 10% only in 2028 according to Inderes’ forecasts (and ROI is still only 8.6% in 2028).  An optimist can always hope that the US investments have created a solid foundation where sales exceed forecasts with at least reasonable margins, and that the consumer gloom in the Nordics finally eases a bit and things start looking up.                   Nokian Renkaat              Johdon osakeomistus / Nokian Renkaat    Tällä sivulla voit tarkastella Nokian Renkaiden johtoryhmän sekä hallituksen jäsenten osakeomistusta yhtiössä. Tiedot päivittyvät kerran vuodessa.                             The insiders have some of their own skin in the game, though there could be more. (PS: that table shows the situation at the end of 2024!  )

My message below goes off-topic regarding Nokian Tyres and focuses on Russian society. However, I am posting it here based on the premise that the St. Petersburg tire factory will not be a threat to Nokian Tyres or other tire manufacturers, now or in the future. Russian individuals are no less intelligent than any of us Finns. My central argument in this message rests on the Russian social order and their mutual trust. Over the last few years, I have read dozens, if not hundreds, of different stories about how things work there. Usually written by someone who has lived there themselves and knows the customs of their society. They all paint a similar picture of Russian society. Only Russia’s own propaganda tells how they can do everything and do it well. Individuals tell a different story. Russia is a command economy. Everything flows from the top down. Success in life depends on connections and whom you can do favors for in your position. Success depends much less on how good you are at your job. And in a society where success means a job where state money is being distributed, for you to succeed, someone else must lose. It’s a zero-sum game more often than not. This kind of society favors using time and talent to cultivate relationships instead of developing into a top specialist in your field. While top specialists can certainly be found there in every field, the incentives provided by society for succeeding in life are different. There is no academic freedom; if you say something in someone’s hearing that some bigwig above you doesn’t want to hear, then too bad for you. Below is a good video by Elvira Bary, in which she describes the current technological state of Russia and begins her story from the Soviet era. She goes through, based on facts, where the money goes in Russia and what kind of impact it has on the development of things. She goes through how the funding of education and science, academic freedom, obtaining degrees, and challenging the prevailing view with new ideas works and what is achieved by it.               Conclusion: The St. Petersburg tire factory can be a significant player in Western markets if and only if a Western entity invests millions (or tens to hundreds of millions?) of money into it, updates the technology, production methods, and brings in the latest recipes and raw materials. How likely is this? Not in the timeframe that I see. But of course, I could be wrong. I will not write more about this topic in this thread.

Good points. I agree. Right now, we are living with the mindset that nothing is being done with Russia, and that nothing can be done there either. But it is indeed true that sentiments change. In a couple of years, there will already be young people who don’t even remember the whole war in Ukraine. It’s the same with Covid. Now people shake hands and cough just like before. However, I still believe in Nokian Tyres (Nokian Renkaat) even in this new situation. Product development and competitiveness seem to be in the company’s DNA, so I hold.

I have personally spent time at the factory in question on various projects. The factory’s degree of automation is high, and running it requires significant expertise. They certainly had a competent organization back when NR still owned the plant, and at that time, the factory operated quite independently. Production development was largely done in Nokia and often only transferred to Russia afterward. In other words, the locals didn’t really develop anything new themselves. Personally, I believe that even in the medium term, the products and production methods will inevitably fall behind those of competitors—though this likely comes as no surprise.

I read something a while back about how they spent months tinkering to get the Ikon sidewall molds, and that the winter tire studs aren’t the same as the ones Nokian uses. It’s just one of those things—buy Makita tools and anyone can become a house builder, and steal a tire factory from Nokian and you automatically know how to make car tires.

It wasn’t that long ago that there was an article somewhere saying that the factory stolen from NR hasn’t really taken off. And I don’t believe that tires from there would even be coming for sale in the EU area anytime soon.

Nokian Tyres

Nokian Tyres published its Q1 report yesterday. The start of the year was still quite unproblematic for the company but with new EU sanctions especially the second half of the year will inevitably...

<p>Nokian Tyres published its Q1 report yesterday. The start of the year was still quite unproblematic for the company but with new EU sanctions especially the second half of the year will inevitably become tricky. It takes time to change the production structure and its currently difficult to assess long-term value creation. </p> 

	2021	22e	23e
Revenue	1,714.2	1,424.6	1,704.5
growth-%	30.5 %	-16.9 %	19.6 %
EBIT (adj.)	324.9	162.7	274.5
EBIT-% (adj.)	19.0 %	11.4 %	16.1 %
EPS (adj.)	1.84	0.91	1.54
Dividend	0.55	0.55	0.60
Dividend %	1.7 %	5.1 %	5.5 %
P/E (adj.)	18.1	11.9	7.0
EV/EBITDA	10.5	5.3	4.0

Nokian Tyres: Spins and tightens

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Key Estimate Figures28.04.2022

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