Nokian posted sales, profit growth in 2007
Nokian Tyres plc posted sales of more than one billion euros in 2007, a 22.6% increase over 2006 results. Nokian's operating profit for 2007 totaled 234 million euros versus 153.1 million euros in 2006.
Kim Gran, president and CEO of Nokian, says most growth came from passenger car tires, "but also all other profit centers recorded improved net sales and operating profit. Sales grew in all key markets and particularly in Russia.
"Despite significant investments, our cash flow improved. The average tire price rose as a result of the improved sales mix, new products and successfully implemented price increases.
"The outlook for 2008 is good," he adds, "and we expect the strong growth to continue."