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Nokian Tyres plc Half Year Financial Report January-June 2026: Strong profitability improvement driven by higher sales volumes and enhanced pricing
Nokian Tyres plc Half Year Financial Report January-June 2026, July 17, 2026 at 1:00 p.m. EEST
This release is a summary of Nokian Tyres' Half Year Financial Report January-June 2026. The complete report is attached to this release. It is also available on the company's website at company.nokiantyres.com/investors.
April-June 2026
- Net sales were EUR 379.9 million (April-June 2025: 343.7), up by 10.6% or 9.7% in comparable currencies.
- Segments operating profit was EUR 45.0 million (26.3), an improvement of 71.0%. The increase was driven by higher sales and lower manufacturing and material costs. Operating profit was EUR 34.8 million (14.8), an improvement of 136.0%. Non-IFRS exclusions totaled EUR -10.2 million (-11.5).
- Earnings per share were EUR 0.14 (0.00).
- Cash flow from operating activities was EUR -2.2 million (16.5), mainly due to higher sales driving increased receivables.
January-June 2026
- Net sales were EUR 659.6 million (January-June 2025: 613.2), up by 7.6% with neutral currency effect. Sales growth outperformed the market in all regions.
- Segments operating profit was EUR 40.7 million (7.8), an improvement of 419.9%. The increase was driven by higher sales and lower manufacturing and material costs. Operating profit was EUR 17.0 million (-21.1), an improvement of 180.7%. Non-IFRS exclusions totaled EUR -23.6 million (-28.9).
- Earnings per share were EUR -0.02 (-0.27).
- Cash flow from operating activities was EUR -73.6 million (-105.3).
- Nokian Tyres' updated strategy and financial targets extending until the end of 2029 were announced in February.
Guidance for 2026 (unchanged)
In 2026, Nokian Tyres' net sales are expected to grow compared to the previous year and segments operating profit as a percentage of net sales to be 8-10%.
Assumptions for 2026
Tire demand in Nokian Tyres' markets is expected to remain flat in 2026. Development of global economy as well as geopolitical, trade and tariff uncertainties, including the ongoing conflict in the Middle East, may cause volatility to the company's business environment. Nokian Tyres' profitability improvement is supported by new high-performing products, price/mix and efficiency improvements.
Paolo Pompei, President and CEO:
"In April-June 2026, we delivered a strong quarter in line with our strategic ambition. Operating profit increased by 136%, driven by higher sales volumes and enhanced pricing. This reflects our continuous effort to improve our premium positioning and the trust consumers place in our brand. At the same time, we further improved efficiency through multiple initiatives across the organization, supporting profitability and long-term value creation. I am proud of the Nokian Tyres team for executing our strategy with discipline and delivering consistent progress quarter after quarter.
Passenger Car Tyres was the main driver of our improved performance, with both sales and profitability increasing during the quarter. Heavy Tyres returned to sales growth, while maintaining good profitability despite challenging market conditions. Vianor's profitability was affected by cost inflation and the early start of the spring season.
During the quarter, Nokian Tyres was once again recognized by the Financial Times as one of Europe's Climate Leaders, achieving the highest score among tire companies on the list. In addition, TIME magazine named Nokian Tyres one of the World's Most Sustainable Companies 2026. These recognitions acknowledge our long-term commitment to sustainability and inspire us to continue improving our performance in this area.
A strong brand and a competitive product portfolio remain key enablers of our premium positioning. We continued to invest in brand building and gained broad visibility as an official sponsor of the 2026 IIHF Ice Hockey World Championship. Products launched in recent quarters supported sales and further strengthened our premium offering. Winter tires remained our largest product segment by sales value, while all-season tires continued to grow. Initial customer response to our new flagship winter tire, Nokian Tyres Hakkapeliitta 01, has been positive and reinforces our position in a segment that is central to our heritage and business.
While investing in growth, we have continued to improve cost efficiency and maintain disciplined capital allocation. Following the successful completion of our major investment phase, capital expenditure will be somewhat lower this year than in the previous year.
Geopolitical tensions and market uncertainty are likely to persist, but our priorities remain clear. We continue to focus on executing our strategy, strengthening our premium positioning, and improving profitability. While there is still work ahead, we are on the right path to deliver profitable growth and create long-term value for all our stakeholders."
Key figures
| EUR million | 4-6/2026 | 4-6/2025 | 1-6/2026 | 1-6/2025 | 2025 |
| Net sales | 379.9 | 343.7 | 659.6 | 613.2 | 1,373.6 |
| Net sales change, % | 10.6% | 5.9% | 7.6% | 9.3% | 6.5% |
| Net sales change in comparable currencies, % | 9.7% | 6.9% | 7.6% | 10.0% | 7.2% |
| Operating profit | 34.8 | 14.8 | 17.0 | -21.1 | 35.8 |
| Operating profit change, % | 136.0% |
| 180.7% |
| 1,923.3% |
| Operating profit, % | 9.2% | 4.3% | 2.6% | -3.4% | 2.6% |
| Result before tax | 23.5 | 2.4 | -4.0 | -44.9 | -15.9 |
| Result for the period | 19.5 | 0.6 | -2.7 | -37.2 | -15.0 |
| EPS, EUR | 0.14 | 0.00 | -0.02 | -0.27 | -0.11 |
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| Segments EBITDA | 76.8 | 57.2 | 107.1 | 69.7 | 222.2 |
| Segments EBITDA, % | 20.2% | 16.7% | 16.2% | 11.4% | 16.2% |
| Segments operating profit | 45.0 | 26.3 | 40.7 | 7.8 | 91.3 |
| Segments operating profit change, % | 71.0% | 30.6% | 419.9% | 56.5% | 28.0% |
| Segments operating profit, % | 11.8% | 7.7% | 6.2% | 1.3% | 6.6% |
| Segments ROCE, %* |
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| 6.1% | 3.7% | 4.7% |
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| Equity ratio, % |
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| 47.7% | 46.6% | 50.3% |
| Gearing, % |
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| 71.8% | 75.9% | 57.0% |
| Interest-bearing net debt |
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| 815.0 | 863.9 | 664.0 |
| Capital expenditure | 17.2 | 37.7 | 24.5 | 89.7 | 126.9 |
| Cash flow from operating activities | -2.2 | 16.5 | -73.6 | -105.3 | 146.2 |
* Rolling 12 months
In addition to IFRS figures, Nokian Tyres publishes alternative non-IFRS segments figures, which exclude the ramp-up of the Romanian factory and other possible items that are not indicative of the Group's underlying business performance.
BUSINESS UNIT REVIEWS
Passenger Car Tyres
| EUR million | 4-6/2026 | 4-6/2025 | 1-6/2026 | 1-6/2025 | 2025 |
| Net sales | 235.0 | 206.2 | 421.3 | 380.4 | 858.4 |
| Net sales change, % | 13.9% | 9.3% | 10.8% | 14.6% | 10.1% |
| Net sales change in comparable currencies, % | 13.7% | 11.3% | 11.6% | 16.0% | 11.5% |
| Operating profit | 27.0 | 4.7 | 29.6 | -18.6 | 28.3 |
| Operating profit, % | 11.5% | 2.3% | 7.0% | -4.9% | 3.3% |
| Segment operating profit | 35.5 | 15.9 | 45.7 | 9.7 | 80.9 |
| Segment operating profit, % | 15.1% | 7.7% | 10.8% | 2.6% | 9.4% |
Heavy Tyres
| EUR million | 4-6/2026 | 4-6/2025 | 1-6/2026 | 1-6/2025 | 2025 |
| Net sales | 67.1 | 60.8 | 122.0 | 116.6 | 232.0 |
| Net sales change, % | 10.4% | 1.0% | 4.6% | 1.2% | -1.3% |
| Net sales change in comparable currencies, % | 10.1% | 1.3% | 4.5% | 1.3% | -1.2% |
| Operating profit | 10.1 | 6.0 | 18.7 | 13.3 | 24.3 |
| Operating profit, % | 15.0% | 9.9% | 15.3% | 11.4% | 10.5% |
| Segment operating profit | 10.1 | 6.0 | 18.7 | 13.3 | 24.3 |
| Segment operating profit, % | 15.0% | 9.9% | 15.3% | 11.4% | 10.5% |
Vianor, own operations
| EUR million | 4-6/2026 | 4-6/2025 | 1-6/2026 | 1-6/2025 | 2025 |
| Net sales | 100.7 | 97.7 | 161.8 | 156.5 | 363.8 |
| Net sales change, % | 3.1% | 2.3% | 3.4% | 3.4% | 2.5% |
| Net sales change in comparable currencies, % | 0.2% | 1.2% | 0.8% | 2.9% | 1.6% |
| Operating profit | 5.2 | 7.1 | -11.9 | -8.3 | -3.5 |
| Operating profit, % | 5.2% | 7.2% | -7.4% | -5.3% | -1.0% |
| Segment operating profit | 5.7 | 7.1 | -11.4 | -8.3 | -3.5 |
| Segment operating profit, % | 5.7% | 7.2% | -7.0% | -5.3% | -1.0% |
| Number of own service centers at period end | 170 | 171 |
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| 170 |
CONFERENCE CALL
A conference call for investors, analysts and media will be held on the publishing day at 2:00 p.m. EEST. Nokian Tyres' President and CEO Paolo Pompei and CFO Timo Koponen will present the results. Participants can follow the call https://nokiantyres.events.inderes.com/q2-2026/register.
To ask questions, please join the teleconference by registering at https://events.inderes.com/nokiantyres/q2-2026/dial-in. Phone numbers and a conference ID to access the conference will be provided upon registration.
A recording of the conference call will be available on the company's website for 12 months after the event.
FINANCIAL REPORTING
Interim Report January-September 2026 will be published on October 27, 2026.
Releases and company information are available at company.nokiantyres.com/investors.
Further information:
Paolo Pompei, President and CEO, tel: +358 10 401 7000
Timo Koponen, CFO, tel: +358 10 401 7000
Annukka Angeria, Senior Manager, Investor Relations, tel: +358 10 401 7581