Nordea julkaisi päivitetyn Nokian Renkaat -analyysinsä. Suositus (PIDÄ) ja Fair value (9,00 €) pysyvät ennallaan.
Key upside risks: The Ukraine war ends and consumer confidence improves; falling raw material prices and strongerend demand for replacement tyres; new tyre capacity could be ramped up faster than expected.
Key downside risks: Factories in the US and Finland cannot reach the same operating profit margins as those of their main competitors; loss of market share in Central Europe; higher raw material prices and car market weakness, which could increase costs and shrink volumes in the tyre markets. The ramp-up of production in Romania could also take longer than expected.