Nokian 1Q sales down 13%, operating profit down 20%: Finnish manufacturer defends Russian approach

摘要

DESPITE SIGNIFICANT DROPS in first quarter sales and profitability, Nokian used the publication of its latest financial results as an opportunity to rebuff negativity relating to its exposure to the Russian market. In the first quarter of 2013 Nokian Tyres Group's net sales decreased by 13.3 per cent to 333.1 million euros (1Q 2012:384.3 million euros). Operating profit fell even more sharply, dropping 27 per cent to 76.3 million (1Q 2012:105 million euros).