Nokian Renkaat Oyj · OMXHEX:TYRES
Nokian Renkaat Oyj — Nokian Tyres — Q2 2026 Earnings Presentation
31 slides from Nokian Renkaat Oyj's earnings presentation, Jul 17, 2026
Slide 1: Strong profitability improvement driven by higher sales volumes and enhanced pricing
STRONG PROFITABILITY IMPROVEMENT DRIVEN BY HIGHER SALES VOLUMES AND ENHANCED PRICING HALF YEAR FINANCIAL REPORT JANUARY – JUNE 2026 PAOLO POMPEI, PRESIDENT AND CEO TIMO KOPONEN, CFO JULY 17, 2026
Slide 2: Agenda
AGENDA 1 Quarterly highlights 2 Financial performance 3 Business units 4 Ca sh flow and financial position 5 Assumptions and guidance 2
Slide 3: Quarterly highlights
QUARTERLY HIGHLIGHTS nokicin’ TYRES
Slide 4: Recognition for our sustainability performance
RECOGNITION FOR OUR SUSTAINABILITY PERFORMANCE Financial Times TIME magazine Among #1 tire company The World’s Most Sustainable Highest - scoring tire company on Europe’s Climate Leaders list Companies Ranked 39 th among 600 companies. Ranked 100 th among top 750 companies. 4
Slide 5: Highlights of Q2 2026
HIGHLIGHTS OF Q2 2026 • Operating profit improved significantly , supported by higher sales volumes, price increases as well as lower manufacturing and material costs. • Sales grew across all regions, reflecting high customer trust in our brand. • Pre - sales exceeded expectations for the new flagsh
Slide 6: Financial performance
FINANCIAL PERFORMANCE nokicin’ TYRES
Slide 7: Tire market development in 1-6/2026
TIRE MARKET DEVELOPMENT IN 1 – 6/2026 PC/LT replacement tire markets remained soft especially in North America , while European heavy tire segments were more resilient PASSENGER CAR & AGRI & FORESTRY TRUCK TIRES LIGHT TRUCK TIRES TIRES • Europe RT 0% • Europe RT +10% • Europe RT & OE +5% • North Ame
Slide 8: Growth in all key metrics in Q2
GROWTH IN ALL KEY METRICS IN Q2 EUR million • Net sales increased by 10.6%, or 9.7% in comparable currencies. • Sales grew in all regions, outperforming the market, supported by higher volumes and price increases. • Segment EBITDA increased by 34% to EUR 76.8 million (EUR 57.2 million), representing
Slide 9: Net sales grew in all regions in Q2, led by Central and Southern Europe
NET SALES GREW IN ALL REGIONS IN Q2, LED BY CENTRAL AND SOUTHERN EUROPE NET SALES BY BUSINESS UNIT , EUR million YoY change in comparable currencies Q2’26 Q2’25 Change Passenger 235.0 206.2 +13.7% Car Tyres Heavy Tyres 67.1 60.8 +10.1% Vianor 100.7 97.7 +0.2% 9
Slide 10: All-season growth and larger tire sizes supporting premium mix
ALL - SEASON GROWTH AND LARGER TIRE SIZES SUPPORTING PREMIUM MIX • All segments grew, with all - season tires growing fastest, increasing their share of the mix. • Winter tires were clearly the largest segment by sales value. • ≥18” tires increased to 50% from 48% in the prior year. 10 Shares based
Slide 11: Key financials
KEY FINANCIALS EUR million 4 – 6/2026 4 – 6/2025 1– 6/2026 1– 6/2025 2025 Net sales 379.9 343.7 659.6 613.2 1,373.6 Operating profit 34.8 14.8 17.0 - 21.1 35.8 Operating profit, % 9.2% 4.3% 2.6% - 3.4% 2.6% Segments EBITDA 76.8 57.2 107.1 69.7 222.2 Segments EBITDA, % 20.2% 16.7% 16.2% 11.4% 16.2% S
Slide 12: Capex is normalizing after the major investment phase
CAPEX IS NORMALIZING AFTER THE MAJOR INVESTMENT PHASE • Capex is normalizing towards depreciation over time. • 2026 capex will be somewhat lower than in the previous year. 12
Slide 13: Business units
BUSINESS UNITS nokicin’ TYRES
Slide 14: Q2: Passenger Car Tyres
Q2: PASSENGER CAR TYRES Update all Continued sales and profit growth • Net sales increased by 13.7% in comparable currencies. • ASP improved and the share of ≥18” tires increased • Positive initial customer response to new flagship winter tire Nokian Tyres Hakkapeliitta 01 • Segment operating profit
Slide 15: Q2: Passenger Car Tyres bridge
Q2: PASSENGER CAR TYRES BRIDGE V olume , price/mix and materials supported segment operating profit positively NET SALES, EUR million SEGMENT OPERATING PROFIT, EUR million 15
Slide 16: Passenger Car Tyres net sales - quarterly changes
PASSENGER CAR TYRES NET SALES - QUARTERLY CHANGES YoY Change % 16
Slide 17: Q2: Heavy Tyres
Q2: HEAVY TYRES Sales returned to growth, profitability at a good level • Net sales increased by 10.1% in comparable currencies. • Broad - based growth across end - use segments, led by agri tires • Segment operating profit improved to EUR 10.1 million, representing 15.0% of net sales, supported by
Slide 18: Q2: Vianor
Update all Q2: VIANOR Sales on the previous year’s level, profitability declined • Net sales were flat at EUR 100.7 million. • Segment operating profit declined to EUR 5.7 million, representing 5.7% of net sales, impacted by cost inflation and the early start of the spring season. EUR million 4 −6/2
Slide 19: Cash flow and financial position
CASH FLOW AND FINANCIAL POSITION
Slide 20: Sales growth led to increased working capital, impacting cash flow
SALES GROWTH LED TO INCREASED WORKING CAPITAL, IMPACTING CASH FLOW CHANGE IN CASH FLOWS , EUR million 1– 6/2026 vs. 1 – 6/2025 20
Slide 21: Net debt decreased year-over-year
NET DEBT DECREASED YEAR - OVER - YEAR 21
Slide 22: Assumptions and guidance
ASSUMPTIONS AND GUIDANCE nokicin’ TYRES
Slide 23: Tire industry assumptions for 2026
TIRE INDUSTRY ASSUMPTIONS FOR 2026 PASSENGER CAR & AGRI & FORESTRY TRUCK TIRES LIGHT TRUCK TIRES TIRES RT - 2% − + 2% RT +5 − 10% OE & RT 0 − +5% Demand expected to be flat, Demand expected Demand expected with mixed regional to grow in Europe. to grow modestly development. in Europe. Market data ba
Slide 24: Guidance for 2026
GUIDANCE FOR 2026 (unchanged) In 2026, Nokian Tyres’ net sales are expected to grow compared to the previous year and segments operating profit as a percentage of net sales to be 8 – 10%. Assumptions Tire demand in Nokian Tyres’ markets is expected to remain flat in 2026. Development of global econo
Slide 25: Strategy execution underway and delivering results
STRATEGY EXECUTION UNDERWAY AND DELIVERING RESULTS Premium positioning strengthening through brand, products and pricing Disciplined execution and efficiency improvements across the organization supporting profitability improvement New products driving growth in our selected segments (winter, all -
Slide 26: Nokian Tyres
nokia’ TYRES
Slide 27: Appendix
APPENDIX 27
Slide 28: Group segments operating profit
GROUP SEGMENTS OPERATING PROFIT APPENDIX 2022 – H1/2026 4 – 6/2026 • Net sales EUR 379.9 million (343.7), +10.6% • Segments operating profit EUR 45.0 million (26.3 ) 1– 6/2026 • Net sales EUR 659.6 million (613.2), +7.6% • Segments operating profit EUR 40.7 million (7.8) 28
Slide 29: H1: Passenger Car Tyres bridge
APPENDIX H1 : PASSENGER CAR TYRES BRIDGE Volume, price/mix and materials supported segment operating profit positively 29
Slide 30: Net debt and debt maturities
APPENDIX NET DEBT AND DEBT MATURITIES Available liquidity, Q2/2026 Q2/2025 EUR million Cash 88 125 Committed undrawn credit 292 264 facilities Total 380 389 *Withdrawn loans due in Q3/2026 30
Slide 31: Disclaimer
DISCLAIMER Statements in this presentation, which are not historical facts, such as expectations, anticipations, beliefs and estimates, are forward - looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncerta