Nokian Tyres plc Interim Report January-March 2026: Sales increased across all regions and operating profit improved significantly driven by disciplined strategy execution
Nokian Tyres plc Interim Report January-March 2026, April 22, 2026 at 1:00 p.m. EEST
This release is a summary of Nokian Tyres' Interim Report January-March 2026. The complete report is attached to this release. It is also available on the company's website at company.nokiantyres.com/investors.
January-March 2026
- Net sales were EUR 279.6 million (January-March 2025: 269.5). With comparable currencies, net sales increased by 4.9%.
- Segments operating profit was EUR -4.3 million (-18.5), an improvement of 76.6%. The increase was driven by higher passenger car tire prices and lower manufacturing and material costs. Operating profit was EUR -17.8 million (-35.9), an improvement of 50.3%. Non-IFRS exclusions totaled EUR -13.5 million (-17.4).
- Earnings per share were EUR -0.16 (-0.27).
- Cash flow from operating activities was EUR -71.4 million (-121.8).
- Nokian Tyres' updated strategy and financial targets extending until the end of 2029 were announced in February.
Guidance for 2026 (unchanged)
In 2026, Nokian Tyres' net sales are expected to grow compared to the previous year and segments operating profit as a percentage of net sales to be 8-10%.
Assumptions for 2026
Tire demand in Nokian Tyres' markets is expected to remain flat in 2026. Development of global economy as well as geopolitical, trade and tariff uncertainties, including the ongoing conflict in the Middle East, may cause volatility to the company's business environment. Nokian Tyres' profitability improvement is supported by new high-performing products, price/mix and efficiency improvements.
Paolo Pompei, President and CEO:
"In January-March 2026, Nokian Tyres increased net sales across all regions, while operating profit improved significantly. This marked the fourth consecutive quarter of year-over-year improvement in both sales and operating profit, demonstrating that our disciplined strategy execution is delivering tangible results. At the same time, we are continuously strengthening our premium positioning in the market and improving efficiency through multiple initiatives across our operations and manufacturing sites. Passenger Car Tyres was the primary driver of the result improvement with 9.1% net sales growth in comparable currencies, reflecting consumer trust in our brand. Heavy Tyres delivered a solid and stable performance.
The most exciting highlight of the quarter was the launch of the Nokian Tyres Hakkapeliitta 01. This product represents not only our latest technological breakthrough, but also one of the most significant innovations in winter tire technology in decades. With this launch, we are raising the bar for the entire industry by introducing the studded winter tire that automatically adapts to temperature changes. Together with other flagship products released in the first quarter, such as Nokian Tyres Snowproof 3P, it highlights our strong innovation capability in premium winter tires and further strengthens our leadership in a segment that is central to our heritage and core business.
With the significant investment phase now behind us, our focus in 2026 and the years ahead is on sustainable, value-driven growth. The updated strategy and financial targets launched in February provide a clear direction through 2029. By then, as communicated at the Capital Markets Day in February, we aim to improve profitability by more than EUR 200 million through commercial actions and efficiency improvement initiatives. At the same time, cash flow is improving and capital expenditure is returning to normalized levels, enhancing our financial flexibility going forward.
Looking ahead, market uncertainty and geopolitical tensions are likely to persist. We are closely monitoring developments and evaluating multiple scenarios. With a more balanced manufacturing footprint, tight cost control, and ongoing commercial and efficiency improvement initiatives, Nokian Tyres is well positioned to manage continued uncertainty in the global economy."
Key figures
| EUR million | 1-3/2026 | 1-3/2025 | 2025 |
| Net sales | 279.6 | 269.5 | 1,373.6 |
| Net sales change, % | 3.8% | 13.9% | 6.5% |
| Net sales change in comparable currencies, % | 4.9% | 14.2% | 7.2% |
| Operating profit | -17.8 | -35.9 | 35.8 |
| Operating profit change, % | 50.3% |
| 1,923.3% |
| Operating profit, % | -6.4% | -13.3% | 2.6% |
| Result before tax | -27.5 | -47.3 | -15.9 |
| Result for the period | -22.2 | -37.8 | -15.0 |
| EPS, EUR | -0.16 | -0.27 | -0.11 |
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| Segments EBITDA | 30.2 | 12.5 | 222.2 |
| Segments EBITDA, % | 10.8% | 4.6% | 16.2% |
| Segments operating profit | -4.3 | -18.5 | 91.3 |
| Segments operating profit change, % | 76.6% |
| 28.0% |
| Segments operating profit, % | -1.5% | -6.9% | 6.6% |
| Segments ROCE, %* | 5.2% | 3.6% | 4.7% |
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| Equity ratio, % | 47.5% | 50.7% | 50.3% |
| Gearing, % | 67.5% | 65.9% | 57.0% |
| Interest-bearing net debt | 757.2 | 802.1 | 664.0 |
| Capital expenditure | 7.3 | 52.0 | 126.9 |
| Cash flow from operating activities | -71.4 | -121.8 | 146.2 |
* Rolling 12 months
In addition to IFRS figures, Nokian Tyres publishes alternative non-IFRS segments figures, which exclude the ramp-up of the Romanian factory and other possible items that are not indicative of the Group's underlying business performance.
BUSINESS UNIT REVIEWS
Passenger Car Tyres
| EUR million | 1-3/ | 1-3/ | 2025 |
| Net sales | 186.3 | 174.1 | 858.4 |
| Net sales change, % | 7.0% | 21.7% | 10.1% |
| Net sales change in comparable currencies, % | 9.1% | 22.2% | 11.5% |
| Operating profit | 2.6 | -23.3 | 28.3 |
| Operating profit, % | 1.4% | -13.4% | 3.3% |
| Segment operating profit | 10.2 | -6.2 | 80.9 |
| Segment operating profit, % | 5.5% | -3.6% | 9.4% |
Heavy Tyres
| EUR million | 1-3/ | 1-3/ | 2025 |
| Net sales | 54.9 | 55.8 | 232.0 |
| Net sales change, % | -1.7% | 1.4% | -1.3% |
| Net sales change in comparable currencies, % | -1.6% | 1.3% | -1.2% |
| Operating profit | 8.6 | 7.3 | 24.3 |
| Operating profit, % | 15.7% | 13.0% | 10.5% |
| Segment operating profit | 8.6 | 7.3 | 24.3 |
| Segment operating profit, % | 15.7% | 13.0% | 10.5% |
Vianor, own operations
| EUR million | 1-3/ | 1-3/ | 2025 |
| Net sales | 61.1 | 58.8 | 363.8 |
| Net sales change, % | 3.9% | 5.2% | 2.5% |
| Net sales change in comparable currencies, % | 1.7% | 5.7% | 1.6% |
| Operating profit | -17.1 | -15.4 | -3.5 |
| Operating profit, % | -28.0% | -26.2% | -1.0% |
| Segment operating profit | -17.1 | -15.4 | -3.5 |
| Segment operating profit, % | -28.0% | -26.2% | -1.0% |
| Number of own service centers at period end | 170 | 173 | 170 |
CONFERENCE CALL
A conference call for investors, analysts and media will be held on the publishing day at 2:00 p.m. EEST. Nokian Tyres' President and CEO Paolo Pompei and CFO Timo Koponen will present the results. Participants can follow the call at https://nokiantyres.events.inderes.com/q1-2026/register.
To ask questions, please join the teleconference by registering at https://events.inderes.com/nokiantyres/q1-2026/dial-in. Phone numbers and a conference ID to access the conference will be provided upon registration.
A recording of the conference call will be available on the company's website for 12 months after the event.
FINANCIAL REPORTING
Half Year Financial Report January-June 2026 will be published on July 17, 2026.
Releases and company information are available at company.nokiantyres.com/investors.
Further information:
Paolo Pompei, President and CEO, tel: +358 10 401 7000
Timo Koponen, CFO, tel: +358 10 401 7000
Annukka Angeria, Senior Manager, Investor Relations, tel: +358 10 401 7581