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nokianⓇ TYRES Nokian Tyres plc Interim Report January - March 2021 , May 4 , 2021 at 2:00 p.m. Nokian Tyres plc Interim Report January - March 2021 : Strong volume growth in all markets , demand recovering January - March 2021 Net sales were EUR 341.8 million ( 279.8 in January - March 2020 ) and grew by 22.1 % . With comparable currencies , net sales increased by 28.5 % . ● ● ● ● Segments operating profit was EUR 50.3 million ( 16.3 ) , with negative currency impact of approximately EUR 10 million . Operating profit was EUR 44.3 million ( 9.0 ) . Segments earnings per share were EUR 0.29 ( 0.09 ) . Earnings per share were EUR 0.26 ( 0.02 ) . Cash flow from operating activities was EUR -24.4 million ( -38.9 ) . 1 ( 25 ) Guidance for 2021 In 2021 , Nokian Tyres ' net sales with comparable currencies and segments operating profit are expected to grow significantly . The global car and tire demand is expected to pick up , but the COVID - 19 pandemic continues to cause uncertainties for the development . Jukka Moisio , President and CEO : " Demand for replacement tires has recovered rapidly since the end of 2020. In the first quarter , we reached an all - time high sales volume . Thanks to a great performance by all our business units and business areas , net sales increased by 28.5 % with comparable currencies . Segments operating profit grew substantially driven by higher sales volume . In Passenger Car Tyres , volume growth was particularly strong in Russia as we gained market share especially in summer tires . On the other hand , a weak Russian ruble together with the higher share of Russian volume had a significant negative impact on the average sales price . Heavy Tyres reached an all - time high quarterly net sales and segment operating profit . To ensure the availability of our premium products , we have operated the Russian factory at full capacity . In the US , we continue to ramp - up production to reach an output of around one million tires in 2021. In Finland , we are increasing our production capacity for passenger car tires by approximately 30 % this year as announced in March . Raw material costs are estimated to increase significantly in the second half of the year compared to 2020 . In 2021 , our focus will remain on growth and cash flow . New products and continuous improvements in go - to - market activities will help us build an even stronger foothold in our core markets . We want to benefit from a good momentum in the market while still acting prudently to keep our company strong and competitive for years to come . " Nokian Tyres plc Interim Report January - March 2021