Net sales grew by 10.6% year-over-year.
Nokian Tyres released its 2024 Financial Statement, reporting strong growth in Central Europe, and progress in toward expanded factory capacity in North America and Romania.
Q4 2024 Performance
Nokian Tyres’ net sales grew to EUR 415.0 million (approx. $430 million), a 12.8% increase from the previous year. With comparable currencies, net sales rose by 13.1%.
- Segments operating profit reached EUR 35.9 million (approx. $37 million), while total operating profit stood at EUR 15.4 million (approx. $15.9 million).
- Non-IFRS exclusions accounted for EUR -20.5 million (approx. -$20 million).
- Earnings per share hit EUR 0.04.
- Cash flow from operating activities totaled EUR 314.8 million (approx. $326 million).
Full-Year 2024 Nokian Financial Statement Overview
For Jan.–Dec. 2024, Nokian Tyres’ net sales climbed 9.9% to EUR 1,289.8 million (approx. $1.3 billion). With comparable currencies, net sales grew by 10.6%.
- Segments operating profit reached EUR 71.4 million (approx. $74 million), while operating profit stood at EUR 1.8 million (approx. $1.9 million).
- Non-IFRS exclusions accounted for EUR -69.6 million (approx. -$7 million).
- Earnings per share dropped to EUR -0.17.
- Cash flow from operating activities totaled EUR 77.4 million (approx. $80 million).
Challenges and Investments
The first half of 2024 presented disruptions from the Red Sea crisis and political strikes in Finland, leading to production losses, shipment delays, and higher logistics costs, Nokian said.
