Suomeksi

Year 2013

  • Demand of passenger car tyres decreased in Russia, Nordic countries and Central Europe. Nokian Tyres’ net sales were down by 5.7% due to the challenging markets.

  • Profitability was good: Operating profit percentage was 25.3%. Winter tyres represented 79% (74%) of the company’s sales volume, which improved mix and supported ASP. Raw material costs (€/kg) were down 12.9% year-over-year, which supported margins. The Passenger car tyre unit accounted for 95% of the company’s operating profit.

  • The company’s product offering improved further with the launch of the new Hakkapeliitta winter tyre family in January 2013. Nokian Tyres’ products achieved record-breaking success in magazine tests: Both summer and winter tyres won important tests in the Nordic countries, Russia, and Central Europe.

  • Production on lines 12 and 13 commenced in Russia. The annual production capacity increased to 18 million tyres. The company’s annual production output in the Finnish and Russian factories totalled 15.0 million passenger car tyres (-4% versus 2012). Productivity improved by 2%.

  • Net profit was penalized by EUR 100 million of additional taxes in Finland concerning years 2007–2010. The taxation decision is disputable and the final ruling on the matter is likely to take place after several appeals and many years.

Key figures IFRS

EUR million

2013

2012

change%

Net sales

1,521.0

1,612.4

-5.7

Operating profit

385.5*

415.0

-7.1

% net sales

25.3

25.7

Profit before tax

312.8

387.7

-19.3

% of net sales

20.6

24.0

Return on capital employed (ROI), %

21.8

24.3

Return on equity (ROE), %

13.0

25.2

Interest bearing net debt

-56.4

-65.2

13.5

% of net sales

-0.9

-4.0

Gross investments

125.6

209.2

-40.0

% of net sales

8.3

13.0

Net cash flow from operating activities

317.6

388.7

-18.3

Earnings/share, EUR

1.39

2.52

-45.0

Cash flow per share (CFPS), EUR

2.39

2.96

-19.2

Shareholders equity per share, EUR

10.45

10.89

-4.1

Equity ratio, %

67.6

71.2

Personnel, average during the year

4,194

4,083

*) Incl. bad debt provision of 8.4 m in Q4, (full year 14.3 m)