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    TYRES   FI0009005318

NOKIAN RENKAAT OYJ

(TYRES)
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Nokian Renkaat Oyj : TYRES CELEBRATED ITS NEW, ULTRA-MODERN TIRE WAREHOUSE IN RUSSIA

06/18/2021 | 09:41am EDT

Last year Nokian Tyres finalized its ultra-modern tire warehouse, which enables a high-tech loading and storage of tires. At the end of May it was time to organize a small event with a small group of invitees at the warehouse in Vsevolozhsk, where the Russian factory is situated.

The new warehouse has 17,000 squaremeters of space and automated storage capacity for 550,000 tires. Together with the old warehouse, the capacity is 1.6 million tires. The unique technology increases the storage capacity, improves warehouse logistics, and reduces time spent on receiving and shipping tires. Reducing the downtime of heavy vehicles also has a positive impact on the environment.

'Automation of the logistics complex is a necessary step in the development of the company, and it will enable providing better service to our clients. We have the most modern tire factory in Europe, and now we can state with confidence that we also have the most modern tire warehouse in the world,' says Andrei Pantioukhov, Executive Vice President Russia and Asia and Global Marketing.

The automated tire warehouse allows arranging not only high-tech loading and storage of tires, but also automatic identification of a specific product, its movement and shipment.

'What's unique about the new automated warehouse is that all tires are stored vertically, without additional packaging, and the storage unit is a single tire, not a cage or a pallet. The new technology allows increasing the storage capacity of the area by 2.3 times compared to the traditional method. This is a unique logistics solution on the tire market,' says Tatiana Budennaya, Supply Chain & Procurement Director, Nokian Tyres Russia.

The construction of the automated warehouse began in 2018 and it was finalized in 2020. Due to COVID-19, the company did not carry out a grand opening ceremony, but a small event in May with limited number of guests. All attendees were either vaccinated or with negative PCR tests to meet the safety regulations present at the factory.

As part of the event, Alexander Drozdenko, Governor of the Leningrad Region, visited the Nokian Tyres factory. During the event, Nokian Tyres also published a donation of 15 tire sets for vehicles of the Vsevolozhsk Regional Hospital to support medical staff.

Alexander Drozdenko, Governor of the Leningrad Region, where the factory is located, visited the Nokian Tyres factory in May. Andrei Pantioukhov, Executive Vice President Russia and Asia and Global Marketing, hosted the event.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 1 573 M 1 843 M 1 843 M
Net income 2021 216 M 253 M 253 M
Net cash 2021 12,2 M 14,3 M 14,3 M
P/E ratio 2021 20,3x
Yield 2021 4,30%
Capitalization 4 371 M 5 118 M 5 122 M
EV / Sales 2021 2,77x
EV / Sales 2022 2,58x
Nbr of Employees 4 822
Free-Float 89,8%
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 31,62 €
Average target price 31,12 €
Spread / Average Target -1,59%
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Managers and Directors
Jukka Matias Moisio President & Chief Executive Officer
Teemu Johannes Kangas-Kńrki Chief Financial Officer
Jukka Hienonen Chairman
Juha Pirhonen Vice President-Research & Development
Frans Westerlund Head-Information Technology & Processes
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