Nokian Board Sets Financial Goals

April 25, 2023

Nokian Tyres wants to get back to a two billion-euro "growth track" within the next five years, say company officials.

Nokian's board recently approved that and other long-term financial targets, including "segment operating profit at the level of 15%."

Nokian is about to begin construction on a new factory in Romania that will start building tires in early-2025. (The company recently exited Russia, where it had a high-capacity plant.)

"At the same time, we add capacity in Finland and the U.S. and increase contract manufacturing," says Nokian President and CEO Jukka Moisio.

"Increased capacity, new products and enhanced operational capabilities will support our development toward our new financial targets," he adds.