Key Developments: Nokian Tyres plc (NRE1V.HE)

NRE1V.HE on Helsinki Stock Exchange

28.25EUR
17 Apr 2014
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€0.55 (+1.99%)
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Latest Key Developments (Source: Significant Developments)

Nokian Tyres plc lowers FY 2014 financial guidance
Thursday, 3 Apr 2014 02:00am EDT 

Nokian Tyres plc:Sees FY 2014 net sales and operating profit to decline compared to fiscal year 2013.Says previously expected to see growth in net sales and operating profit for FY 2014.FY 2013 net sales 1,521.00 mln euros and FY 2013 operating profit 385.50 mln euros.FY 2014 net sales 1,557.71 mln euros and FY 2014 operating profit 410.00 mln euros - Thomson Reuters I/B/E/S.  Full Article

Nokian Tyres plc proposes 1.45 euros dividend per share for FY 2013
Friday, 7 Feb 2014 01:00am EST 

Nokian Tyres plc:Says the Board proposes to the Annual General Meeting that a dividend of 1.45 euros per share be paid for the period ending on Dec. 31, 2013.Says the dividend shall be paid to shareholders included in the shareholder list maintained by Euroclear Finland on the record date of Apr. 11.Says the proposed dividend payment date is Apr. 25.  Full Article

Nokian Tyres issues FY 2014 outlook in line with analysts' estimates
Thursday, 6 Feb 2014 07:00pm EST 

Nokian Tyres plc:Expects to show growth in net sales and operating profit in FY 2014.Reported FY 2013 net sales of 1,521.0 million euros and operating profit of 385.5 million euros.FY 2014 revenue 1,625 million euros, operating profit 408.05 million euros - Thomson Reuters I/B/E/S Estimates.  Full Article

Nokian Tyres plc received 73.3 mln euros additional payable tax in Finland regarding years 2008-2010; to propose FY 2013 dividend on previous year's level
Tuesday, 21 Jan 2014 08:00am EST 

Nokian Tyres plc:Says it has received a reassessment decision from the Tax Administration, according to which the company is obliged to pay 73.3 million euros additional taxes with punitive tax increases and interests concerning tax years 2008-2010.Says the company will make a complaint against the decision.Says payment must be made in Feb.Says the total sum demanded by the tax authorities is 73.3 million euros, of which 51.0 million euros are additional taxes and 22.3 million euros punitive tax increases and interests.Says it has previously announced on Dec. 30, 2013 that it received a reassessment decision from the Tax Administration, according to which it is obliged to pay 26.9 million euros additional taxes with punitive tax increases and interests concerning tax year 2007.Says it will record the 2007-2010 total additional taxes of 100.3 million euros in full to the financial statement and result of year 2013.Says the Tax Administration's ruling does not affect the company's dividend distribution.Says the Board of Directors will propose to the Annual General Meeting that the dividend per share for the year 2013 would be at least on the previous year’s level.Says if the claim to the Administrative Court does not lead to annulment of the tax decision, the Group's corporate tax rate is expected to rise in the next 5 years, from the previously announced 17 percent to maximum 22 percent.  Full Article

Nokian Tyres says EUR 26.9 mln additional payable tax in Finland does not change proposed FY 2013 dividend
Monday, 30 Dec 2013 07:00am EST 

Nokian Tyres plc:Says received on Dec. 30 a reassessment decision from the Tax Administration, according to which the company is obliged to pay 26.9 million euros additional taxes with punitive tax increases and interests concerning tax year 2007.Says Large Taxpayers’ Office carried out a transfer pricing tax audit regarding tax years 2007-2011, investigating if the intercompany transactions between Nokian Tyres and its subsidiaries were concluded based on market prices.Says the Tax Administration states the transfer pricing was market-based with all other but the Russian subsidiaries.Says reassessment decisions regarding 2008-2011 have not been received yet.Says payment must be made in Jan. 2014.Says the company will make a complaint against the decision.Says the Tax Administration's ruling does not affect the company's dividend distribution.Says will propose that the dividend per share for the FY 2013 would be at least on the previous year’s level.  Full Article

Nokian Tyres plc Repeats FY 2013 Financial Guidance Revised on October 4, 2013
Thursday, 31 Oct 2013 02:00am EDT 

Nokian Tyres plc announced that in 2013, the Company's net sales and operating profit are expected to show some decline compared to 2012. The guidance was revised on October 4, 2013. Earlier, according to the guidance published on August 9, 2013, the Company estimated that the results would show flat to some growth in net sales and operating profit compared to 2012. For the fiscal year 2012 the Company reported net sales of EUR 1,612.4 million and operating profit of EUR 415.0 million. According to I/B/E/S Estimates analysts on average are expecting Nokian Tyres to report revenue of EUR 1,569.56 million and operating profit of EUR 394.65 million for the fiscal year 2013.  Full Article

Nokian Tyres plc Lowers FY 2013 Financial Guidance
Friday, 4 Oct 2013 03:30am EDT 

Nokian Tyres plc announced that the Company has updated its fiscal year 2013 financial guidance. The Company now expects that net sales and operating profit will show some decline in the fiscal year 2013 compared to 2012. Previously the Company estimated that it is positioned to show flat to some growth in net sales and operating profit compared to 2012.  Full Article

Nokian Tyres plc Integrate its Heavy Tyres and Truck Tyres Business Units into Commercial Tyres Business Unit
Monday, 23 Sep 2013 04:00am EDT 

Nokian Tyres plc announced that the Company will integrate its Heavy Tyres and Truck Tyres profit centers and form a new Commercial Tyres profit centre as of January 1, 2014. The combined profit centres employ about 280 people in Nokia, Finland. The aim is to obtain a better chance to develop operations and improve sales.  Full Article

Nokian Renkaat Oyj Comments on FY 2013 Financial Guidance
Friday, 9 Aug 2013 01:00am EDT 

Nokian Renkaat Oyj announced that in the fiscal year 2013 the Company is positioned to show flat to some growth in net sales and operating profit compared to 2012. For the fiscal year 2012 the Company reported net sales of EUR 1,612.4 million and operating profit of EUR 415.0 million. According to I/B/E/S Estimates analysts on average are expecting Nokian Renkaat to report revenue of EUR 1,666.48 million and operating profit of EUR 439.90 million for the fiscal year 2013.  Full Article

Nokian Renkaat Oyj Updates on H1 2013 Earning Guidance and Repeats FY 2012 Financial Outlook-Reuters
Tuesday, 30 Apr 2013 01:14am EDT 

Reuters reported that Nokian Renkaat Oyj stated that the Company's earnings in the first half (H1) of the fiscal year 2013 will likely be weaker than a year earlier, but repeated its forecast for fiscal year 2013 sales and profit to grow thanks to strength in the Russia market. For the fiscal year 2012 the Company reported revenue of EUR 1,612.40 million. According to I/B/E/S Estimates analysts on average are expecting Nokian Renkaat to report revenue of EUR 1,719.40 million for the fiscal year 2013.  Full Article

UPDATE 2-Tyre maker Nokian cuts profit forecast as Russian demand falls

* Third of Nokian's 2013 sales came from Russia (Adds comments from CFO, analyst, share reaction, background)

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