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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Nokian Renkaat Oyj    TYRES   FI0009005318

NOKIAN RENKAAT OYJ

(TYRES)
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Nokian Renkaat Oyj : One year without occupational accidents - Levypyörä has overturned its course in safety after acquisition

11/23/2020 | 09:11am EST

Levypyörä, part of the Nokian Tyres, has achieved an important occupational safety milestone: the company has worked for one year without any lost-time occupational accidents. Levypyörä joined Nokian Tyres through an acquisition in August 2019.

"Initially, the company was on our occupational safety "watch list". Improving occupational safety was one of the first things that we focused on after the acquisition, and Levypyörä's personnel were given plenty of coaching and encouragement. Safety is the number one priority in everything that we do. For this, we owe thanks to our entire staff", says Pasi Antinmaa, managing director for Levypyörä.

Nokian Tyres aims to reduce lost-time occupational accidents by 20% each year. In 2019, Nokian Tyres' Lost-Time Injury Frequency (LTIF) was 4.3 (accidents/million work hours), down by 69% from 2015. When Levypyörä's figures are included, the LTIF number was 5.0. The good development has continued, and the next milestone will be 4.5 accidents per one million work hours.

"This development has been astonishing," says Jukka Rikkinen, Nokian Tyres' Head of Global Safety. "When everyone commits themselves to the common goal of improving safety, we will have a firm foundation for development. I trust that this development will continue in the coming years. Safety is a choice, as Nokian Tyres' safety slogan puts it," Jukka emphasizes.

Levypyörä was founded 65 years ago and it employs approximately 90 people in Nastola, Finland. The company is a premier provider of wheels for heavy OE and aftermarket applications.

Nokian Tyres plc

Päivi Antola

SVP, Investor Relations & Corporate Communications

Tel. +358 10 401 7327

Contact requests: Tarja Kuittinen, Communications Manager, tel. +358 10 401 7912

Nokian Tyres develops and manufactures premium tires for people who value safety and sustainability. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2019, the company's net sales were EUR 1.6 billion and it employed some 4,700 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials
Sales 2020 1 349 M 1 632 M 1 632 M
Net income 2020 99,8 M 121 M 121 M
Net Debt 2020 43,7 M 52,9 M 52,9 M
P/E ratio 2020 42,2x
Yield 2020 3,66%
Capitalization 4 203 M 5 077 M 5 085 M
EV / Sales 2020 3,15x
EV / Sales 2021 2,85x
Nbr of Employees 4 785
Free-Float 85,9%
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Technical analysis trends NOKIAN RENKAAT OYJ
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 17
Average target price 25,63 €
Last Close Price 30,41 €
Spread / Highest target 8,52%
Spread / Average Target -15,7%
Spread / Lowest Target -50,7%
EPS Revisions
Managers and Directors
NameTitle
Jukka Matias Moisio President & Chief Executive Officer
Jukka Hienonen Chairman
Teemu Johannes Kangas-Krki Chief Financial Officer
Juha Pirhonen Vice President-Research & Development
Frans Westerlund Head-Information Technology & Processes
Sector and Competitors