Nokian Renkaat Oyj · OMXHEX:TYRES
Nokian Renkaat Oyj — Nokian Tyres — Q3 2026 Earnings Presentation
31 slides from Nokian Renkaat Oyj's earnings presentation, Oct 27, 2026
Slide 1: Strong profitability improvement continued in the third quarter
STRONG PROFITABILITY IMPROVEMENT CONTINUED IN THE THIRD QUARTER INTERIM REPORT JANUARY – SEPTEMBER 2026 PAOLO POMPEI, PRESIDENT AND CEO TIMO KOPONEN, CFO OCTOBER 27, 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: Tire market development in 1–9/2026
TIRE MARKET DEVELOPMENT IN 1 – 9/2026 PC/LT replacement tire markets remained soft, while European heavy tire segments were more resilient PASSENGER CAR & AGRI & FORESTRY TRUCK TIRES LIGHT TRUCK TIRES TIRES • Europe RT - 2% • Europe RT +11% • Europe RT & OE +2% • North America RT - 3% Market data ba
Slide 5: Highlights of Q3 2026
HIGHLIGHTS OF Q3 2026 • Operating profit improved significantly , driven by price repositioning and lower manufacturing and material costs. • Sales grew across all regions, reflecting high customer trust in our brand. • New flagship winter tires became available to consumers and ranked high in magaz
Slide 6: Latest test success reinforces our premium positioning in winter and all-season
LATEST TEST SUCCESS REINFORCES OUR PREMIUM POSITIONING IN WINTER AND ALL - SEASON HAKKAPELIITTA R5 (studless winter) #1 #1 NOKIAN TYRES HAKKAPELIITTA 01 Tekniikan Maailma (FI 18/2025) Aftonbladet (SE 9/2026) of 6 (studded winter) SNOWPROOF 3P (studless winter) Sport Auto (DE 10/2026) #2 of 9 (FI 7/2
Slide 7: Financial performance
FINANCIAL PERFORMANCE nokicin’ TYRES
Slide 8: Growth in all key metrics in Q3
GROWTH IN ALL KEY METRICS IN Q3 EUR million 344.1 359.1 • Net sales increased by 4.4 %, or 2.9 % in comparable currencies. NET SALES • Sales grew in all regions, supported by price repositioning. Q3’25 Q3’26 80.1 65.4 • Segments EBITDA increased by 22% to EUR 80.1 million (EUR 65.4 SEGMENTS EBITDA m
Slide 9: Net sales grew in all regions in Q3, led by Nordics and North America
NET SALES GREW IN ALL REGIONS IN Q3, LED BY NORDICS AND NORTH AMERICA NET SALES BY GEOGRAPHICAL AREA, EUR million NET SALES BY BUSINESS UNIT , EUR million +5.2 % 200 CC* 176.4 Q3’26 Q3’25 Change C hange 180 167.7 160 Passenger Car Tyres 247.1 234.0 +5.6% +4.3% 140 +1.2% 120 +5.3% 96.8 97.9 100 82.5
Slide 10: Winter tires dominate mix, larger tire sizes reached a record share of our sales
WINTER TIRES DOMINATE MIX, LARGER TIRE SIZES REACHED A RECORD SHARE OF OUR SALES WINTER TIRES ALL - SEASON & SUMMER TIRES 73% 76 % ALL - WEATHER TIRES 22% 19% 4% 5% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 9M’25: 55% 9M’26: 59% 9M’25: 29% 9M’26: 26% 9
Slide 11: Key financials
KEY FINANCIALS EUR million 7– 9/2026 7– 9/2025 1– 9/2026 1– 9/2025 2025 Net sales 359.1 344.1 1,018.7 957.3 1,373.6 Operating profit 37.9 21.8 54.9 0.7 35.8 Operating profit, % 10.5% 6.3% 5.4% 0.1% 2.6% Segments EBITDA 80.1 65.4 187.1 135.1 222.2 Segments EBITDA, % 22.3% 19.0% 18.4% 14.1% 16.2% Segm
Slide 12: Capex is normalizing after the major investment phase
CAPEX IS NORMALIZING AFTER THE MAJOR INVESTMENT PHASE EUR million Investments Estimate 400 Depreciation • Capex is normalizing towards depreciation 300 over time. • 2026 capex will be 200 lower than in the previous year as we leverage our state - of - 100 the - art manufacturing platform. 0 2022 202
Slide 13: Business units
BUSINESS UNITS nokicin’ TYRES
Slide 14: Q3: Passenger Car Tyres
Q3: PASSENGER CAR TYRES Update all Continued sales and profit growth • Net sales increased by 4.3% in comparable currencies. • ASP improved and the share of ≥18” tires was record high • The new Nokian Tyres Hakkapeliitta 01 and Snowproof 3P winter tires became available to consumers and ranked high
Slide 15: Q3: Passenger Car Tyres bridge
Q3: PASSENGER CAR TYRES BRIDGE Price/mix and materials supported segment operating profit positively NET SALES , EUR million 255 +6% 250 3 247 245 12 244 240 235 234 -2 230 - 0,9% +5,2% +1,3% 0 7- 9/2025 Sales Volume Price/Mix Net Sales excl Currency 7- 9/2026 FX effect SEGMENT OPERATING PROFIT , EU
Slide 16: Passenger Car Tyres net sales - quarterly changes
PASSENGER CAR TYRES NET SALES - QUARTERLY CHANGES YoY Change % Sales Volumes Price / Mix Currency 16,5% 21,7% 8,5% 6,4% 5,7% 10,5% 5,2% 4,9% 3,4% 3,1% 0,3% 1,3% - 3,3% - 4,6% - 0,9% 0,5% - 0,5% - 1,7% - 1,4% - 2,1% - 2,1% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2025 2026 2025
Slide 17: Q3: Heavy Tyres
Q3: HEAVY TYRES Sales grew slightly, profitability at a good level • Net sales increased by 1.7% in comparable currencies. • Strong growth in agri • Segment operating profit improved to EUR 8.7 million, representing 15.3% of net sales, supported by disciplined pricing and cost management. EUR millio
Slide 18: Q3: Vianor
Update all Q3: VIANOR Sales and profitability at the previous year’s level in the low season • Net sales were flat at EUR 77.2 million in comparable currencies. • Segment operating profit was EUR - 6.8 million, representing - 8.8% of net sales, impacted by cost inflation. EUR million 7−9/2026 7−9/20
Slide 19: Cash flow and financial position
CASH FLOW AND FINANCIAL POSITION
Slide 20: Higher EBITDA and lower investments supported cash flow
HIGHER EBITDA AND LOWER INVESTMENTS SUPPORTED CASH FLOW CHANGE IN CASH FLOWS , EUR million 1– 9/2026 vs. 1 – 9/2025 60 4 4 - 100 85 40 20 0 - 20 61 - 12 - 40 - 45 - 60 - 80 - 87 - 100 1- 9/2025 EBITDA Working Capital Investments Financial items Dividends Debts 1- 9/2026 and other and taxes and other
Slide 21: Net debt decreased year-over-year
NET DEBT DECREASED YEAR - OVER - YEAR NET DEBT , EUR million DEBT MATURITIES EUR 987 - 86 million 600 901 550 500 450 400 350 300 250 200 150 100 Q3’25 Q3’26 50 0 2026 2027 2028 2029 2030 2031- Liquidity Committed Credit Facilities | Withdrawn (Major) * Committed Credit Facilities | Undrawn (Major)
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% − 0% RT +5 − 10% OE & RT 0 − +3% Demand expected to be flat, Demand expected Demand expected with mixed regional to grow in Europe. to grow modestly development. in Europe. Market data base
Slide 24: Guidance for 2026
GUIDANCE FOR 2026 (updated on October 27, 2026) 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 at the higher end of the 9 – 10% range. Assumptions Tire demand in Nokian Tyres’ markets is expected to
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: nokia’
nokia’ TYRES
Slide 27: Appendix
APPENDIX 27
Slide 28: Group segments operating profit 2022 – Q3/2026
GROUP SEGMENTS OPERATING PROFIT APPENDIX 2022 – Q3/2026 SEGMENTS OPERATING PROFIT PER QUARTER , EUR million 7– 9/2026 60 • Net sales EUR 359.1 million 40 (344.1), +4.4% 20 • Segments operating profit 0 EUR 47.0 million (32.4) Q1 Q2 Q3 Q4 -20 2022 2023 2024 2025 2026 1– 9/2026 CUMULATIVE SEGMENTS OPE
Slide 29: 1–9/2026: Passenger Car Tyres bridge
APPENDIX 1– 9 /2026: PASSENGER CAR TYRES BRIDGE Volume, price/mix and materials supported segment operating profit positively NET SALES , EUR million 700 +9% 680 22 668 0 668 660 32 640 620 614 +5,2% +3,5% +0,0% 0 1- 9/2025 Sales Volume Price/Mix Net Sales excl Currency 1- 9/2026 FX effect SEGMENT O
Slide 30: Net debt and debt maturities
APPENDIX NET DEBT AND DEBT MATURITIES Net Debt Debt Maturities Q3/ 2026 Q3/ 2025 Q3/ 2026 1100 1100 600 500 1000 121 1000 450 110 500 76 900 900 400 24 800 308 800 23 271 350 400 700 700 100 300 EUR million EUR million 600 600 300 250 500 500 200 200 400 400 200 621 647 10 150 300 300 324 16 100 200
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