Nokian Tyres (TYRES) Q2 2026 earnings summary

Executive summary

• Profitability improved significantly in H1 and Q2 2026, driven by higher sales volumes, enhanced pricing, efficiency gains, and lower manufacturing and raw material costs.

• Sales grew in all regions and business units, outpacing the market and reflecting high consumer trust and successful new product launches.

• Recognized for sustainability leadership by Financial Times and TIME Magazine, and listed among Europe's Climate Leaders.

• Operating profit and EBITDA rose sharply, supported by efficiency initiatives and lower costs.

• Updated strategy and financial targets through 2029 focus on premium positioning and sustainability.

Financial highlights

• Q2 2026 net sales increased by 10.6% to EUR 379.9 million; H1 net sales up 7.6% to EUR 659.6 million.

• Segment EBITDA rose 34% to EUR 76.8 million (20.2% of net sales); segment operating profit up 71% to EUR 45 million (11.8% margin).

• Operating profit more than doubled to EUR 34.8 million in Q2; H1 operating profit turned positive at EUR 17.0 million from a loss of EUR -21.1 million in H1 2025.

• Year-to-date net sales up 7.6%, segment EBITDA up 54%, and operating profit turned positive.

• Equity ratio at 47.7%, gearing at 71.8%, and interest-bearing net debt at EUR 815 million.

Outlook and guidance

• 2026 net sales expected to grow versus previous year; segment operating profit margin guided at 8–10%.

• Tire demand in core markets expected to remain flat; profitability supported by new products, price/mix, and efficiency.

• Passenger Car Tyres replacement market expected to remain stable (±2%) in H2 2026; truck tires market outlook positive (+5% to +10%), agricultural and forestry tires expected to grow 0% to +5%.

• Full-year CapEx expected below EUR 100 million; capex normalizing and lower than previous year.

• Volatility possible due to global economic and geopolitical uncertainties.