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Nokian Tyres (TYRES) investor relations material
Nokian Tyres CMD 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic direction and market positioning
Focus on premium niche segments such as winter, all-season, all-weather, and agricultural/forestry tires, leveraging strong innovation and R&D for differentiation and pricing power.
Emphasis on sustainable, value-driven growth over market share, with a local-to-local business model reducing geopolitical and supply chain risks.
Expansion in Nordics (defend premium position), Central Europe (regain and rebuild), and North America (build and accelerate growth), supported by modern, automated factories and scalable, efficient manufacturing.
Vianor network and partnerships are key to premium positioning, sales, and deepening customer relationships, especially in Europe.
Brand investments, including partnerships and digital marketing, aim to boost consumer awareness and pull, especially in underpenetrated markets.
Financial targets and performance outlook
Updated 2029 targets: net sales EUR 1.8–2.0 billion, segment EBITDA above 24%, segment operating profit above 15%, net debt to EBITDA below 2x, and dividend payout of at least 50% of net earnings.
2025 marked a turnaround with 28% growth in operating profit and significant improvements in pricing mix and cash flow.
Over €200 million EBITDA improvement expected, with half from operational efficiency and cost actions, and the rest from volume, pricing, and mix enhancements.
CapEx normalizing to ~€150 million annually after major investments; strong, predictable cash flow expected.
Commercial and operational initiatives expected to deliver EUR 100–120 million EBITDA improvement by 2029.
Market trends and growth drivers
Electrification and aging vehicle parc drive demand for larger, high-value tires.
Growing replacement market and premium demand in selected segments, especially in Europe and North America.
Mobility trends (leasing, sharing, robotaxis) and sustainability requirements increase demand for durable, safe, and sustainable tires.
Regulatory support and consumer preference for all-season and all-weather tires fuel double-digit growth in these segments.
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