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Provider: Reuters Investment Profile
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Provider: Thomson Reuters StreetEvents
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Nokian Renkaat Oyj Maintains FY 2012 Financial Guidance; Comments on Q3 2012 and H2 2012 Operating Profit Guidance


Tuesday, 16 Oct 2012 07:00am EDT 

Nokian Renkaat Oyj announced that the guidance for the fiscal year 2012 remains unchanged. Operating profit in the second half of the fiscal year 2012 will be weaker than in the corresponding period a year earlier. In full fiscal year 2012, net sales and operating profit will improve compared with the fiscal year 2011. Due to Central European lower prices and clearly weakened demand, Nokian Renkaat Oyj’s operating profit in the third quarter of the fiscal year 2012 and in the second half of the fiscal year 2012 will be weaker than in the fiscal year 2011. In Nordic countries the full year sales are expected to be on previous year’s level and in Russia fiscal year 2012 sales will improve clearly compared with the fiscal year 2011. The Company’s third quarter fiscal year 2012 net sales are estimated to be EUR 365 million and third quarter fiscal year 2012 operating profit EUR 85 million. Operating profit in the second half of the fiscal year 2011 was EUR 338.80 million and in the third quarter of the fiscal year 2011 EUR 95.40 million. Fiscal year 2011 net sales were EUR 1,456.80 million and fiscal year 2011 operating profit was EUR 380.10 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2012 net sales of EUR 1,698.27 million. 

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7:13am EDT