Nokian Tyres PLC (OTCPK:NKRKF)

$ 7.655 -0.345 (-4.31%) Market Cap: 1.06 Bil Enterprise Value: 1.87 Bil PE Ratio: 0 PB Ratio: 0.76 GF Score: 79/100

Q1 2021 Nokian Tyres plc Earnings Call Transcript

May 04, 2021 / 12:00PM GMT

Release Date Price: $37.07

Transcript

Paivi Antola

Nokian Renkaat Oyj - SVP of IR & Corporate Communications

Good afternoon from Helsinki, and welcome to Nokian Tyres Q1 Results Conference Call. My name is Paivi Antola, and I am the Head of Investor Relations in Nokian Tyres. And together with me in the call, I have Jukka Moisio, the President and CEO; and Teemu Kangas-Karki, the CFO. As usual, we will start the call with a brief introduction into the results, and that will be then followed by a Q&A. So Jukka, please go ahead.

Jukka Moisio

Nokian Renkaat Oyj - President & CEO

Thank you, Paivi, and welcome on my behalf as well. I move directly to Page 2 on the presentation heading, sales. Net sales and operating profit increased significantly. Net sales was in first quarter EUR 341.8 million, that's a 28.5% increase in comparable currencies. All-time high first quarter volumes in Passenger Car Tyres as well as in Heavy Tyres. We also saw that the demand recovered in all markets. Most important recovery was in Russia and the weakest recovery in terms of percentages was in Nordics, which

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