|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.68 - 8.68|
|52 Week Range||8.68 - 16.80|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||11.62|
|Forward Dividend & Yield||0.58 (4.87%)|
|Ex-Dividend Date||Nov 02, 2022|
|1y Target Est||N/A|
As many other international companies withdrew from Russia in response to the Ukraine war, Nokian Tyres said last year it would exit the Russian tyre-making business. The final impact of the transaction would be disclosed in the company's first quarter 2023 interim report, the statement said.
Nokian Tyres said on Tuesday it had been informed that Russia's Governmental Commission on Monitoring Foreign Investment has approved the Finnish group's sale of its Russian operations to PJSC Tatneft. Nokian Tyres last year said it would sell the Russian tyre making business in response to the war in Ukraine. The price approved by the Russian commission corresponds to 286 million euros ($306.85 million), Nokian Tyres said on Tuesday, significantly less than the 400 million euros that the group originally expected when a deal was first announced in October.
HELSINKI (Reuters) -Finland's Nokian Tyres posted a surprise fourth-quarter operating loss on Tuesday after its supply of passenger car tyres dropped sharply with the loss of its Russian output which accounted for the bulk of production. The company's shares were 11% lower on the Helsinki stock exchange following the release of the earnings report. Following the invasion of Ukraine, Nokian agreed in October to sell the Russian plant where it made 80% of its passenger car tyres, but it has not been able to sufficiently ramp up production elsewhere.