Year 2011: Strong growth

  • Demand of car tyres grew significantly in all Nokian Tyresí main markets. The groupís Net sales grew by 37.7% and market shares increased in the Nordic countries, Russia and Central Europe.
  • Order book was strong at the end of the year.
  • The Average Selling Price of Nokian Tyres was up due to improved sales mix and price increases. Profitability was excellent despite the increase of the raw material cost.
  • Nokian summer and winter tyres achieved magazine test victories, in both Nordic and Central European tyre categories.
  • Nokian Tyres is the market leader in brand, price position and distribution in core markets. Position and profitability improved clearly in CE.
  • Vianor tyre chain expanded to 910 stores in 23 countries. Addition of 139 stores in 2011.
  • Production output (tons) was up by 47%; weekly output of car tyres increased from 250 to 360 kpcs/week during 2011. Two new lines (9 and 10) commenced production in Russia. A decision was made to build a new factory next to the current one in Russia.

Key figures, IFRS 

EUR million

2011

2010

Change%

Net sales 1,456.8 1,058.1 37.7
Operating profit 380.1 222.2 71.1
   % net sales 26.1 21.0
Profit before taxes 359.2 208.8 72.0
   % of net sales 24.7 19.7
Return on capital employed (ROI), % 27.4 19.9
Return on equility (ROE), % 29.1 20.0
Interest bearing net debt -3.6 0.7 -643.0
   % of net sales -0.2 0.1
Gross investments 161.7 50.5 220.3
   % of net sales 11.1 4.8
Cash flow from operations 232.9 327.2 -28.8
Earnings/share, EUR 2.39 1.34 78.7
Cash flow per share (CFPS), EUR 1.80 2.58 -30.1
Shareholders equility per share, EUR 9.15 7.34 24.7
Equility ratio, % 63.2 68.4
Personnel, average during the year
3,866 3,338