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    TYRES   FI0009005318

NOKIAN RENKAAT OYJ

(TYRES)
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Nokian Renkaat Oyj : Vianor helps Nokian Tyres to strengthen its unique position in Nordics

10/11/2021 | 11:22am EST
Mon October 11 05:04 pm 2021 in category Articles Vianor helps Nokian Tyres to strengthen its unique position in Nordics

Nokian Tyres organized a Capital Markets Day in September. In the event, Anna Hyvönen, EVP, Nordics, Vianor and North America opened Nokian Tyres' strategy in the Nordics.

"Nokian Tyres has a long heritage in the Nordics. We are number one in the market and we have a strong team. Nokian Tyres is the only company designing tires for the Nordic market, and the brand awareness is very high. Our position is unique."

A good example of success is our flagship product, the studded winter tire Nokian Hakkapeliitta 10, which was recently awarded the number 1 position in independent tests conducted by the Finnish magazine Tekniikan Maailma, as well as the Swedish Aftonbladet and Dagbladet.

"To keep our loyal and demanding customer and consumer base happy, we are making sure that our customers have their tires in time, for preseason and during the season. This means developing our delivery capability, optimizing our local warehouse network, and developing further our Vianor service center network."

Nokian Tyres' products in the Nordics are custom-made according to the wishes of the Nordic drivers, for Nordic conditions, come rain or snow. One third of Nokian Tyres' tires sold in Nordics is distributed through the Vianor network. Currently, the company has 174 own service centers and around 150 partners in the Nordics.

"There is also one trend in the market where we want to invest, and that is the tire hotel. We have currently around 200,000 tire hotel customers, and we will be investing more in the tire hotel capacity. This is a very good way to strengthen the relationship and keep the customers with us", says Anna Hyvönen.

Anna Hyvönen's presentation at the Capital Markets Day can be viewed here.

Disclaimer

Nokian Tyres plc published this content on 11 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2021 15:21:03 UTC.


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Sales 2021 1 655 M 1 873 M 1 873 M
Net income 2021 235 M 266 M 266 M
Net cash 2021 11,1 M 12,6 M 12,6 M
P/E ratio 2021 20,0x
Yield 2021 4,04%
Capitalization 4 694 M 5 316 M 5 312 M
EV / Sales 2021 2,83x
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Nbr of Employees 5 080
Free-Float 89,8%
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 33,96 €
Average target price 31,90 €
Spread / Average Target -6,08%
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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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