Nokian Renkaat - Inside information

Nokian Tyres plc confirms its guidance for 2019 and provides preliminary outlook for 2020

Nokian Tyres plc Inside Information January 24, 2020, 8:00 a.m.

Nokian Tyres plc confirms its guidance for the full year 2019 and provides
preliminary outlook for 2020. In line with the guidance given in October 2019,
net sales in 2019 with comparable currencies were approximately at the level of
2018 and operating profit margin was approximately at the level of 20%. In 2020,
Nokian Tyres net sales with comparable currencies are expected to decline and
operating profit to be significantly below the level of 2019.

In 2019, the car and tire markets continued to be soft in Europe, which resulted
in tightening competition. Winter tire demand in October-December was negatively
impacted by the warm winter in Nokian Tyres key markets. During the year, the
Russian market declined against the expectations. Low consumer spending,
declining new car sales and increasing competition resulted in a significant
increase in carry-over stocks at the year-end in Russia. In 2020, Nokian Tyres
net sales and operating profit in Russia are expected to decline substantially.

Nokian Tyres continues with the growth strategy in Central Europe and North
America in 2020 in line with plan. Operating profit in 2020 will include costs
related to the North American expansion and other investment programs to support
long-term growth, as communicated in 2018.

Nokian Tyres will publish its Financial Statement Release 2019 on February 4,
2020 approximately at 2:00 p.m. Finnish time.

Nokian Tyres plc

Päivi Antola
SVP, Communications and IR

Further information:
Teemu Kangas-Kärki, CFO, tel: +358 10 401 7750
Päivi Antola, SVP, Communications and IR, tel: +358 10 401 7327

Distribution: Nasdaq Helsinki, media and www.nokiantyres.com

Nokian Tyres develops and manufactures premium tires for people who value safety
and sustainability. Inspired by our Scandinavian heritage, we craft innovative
products for passenger cars, trucks and heavy machinery that give you peace of
mind in all driving conditions. Our Vianor chain provides tire and car services.
In 2018, the company’s net sales were EUR 1.6 billion and it employed some 4,800
people. Nokian Tyres is listed on Nasdaq Helsinki. Further information:
www.nokiantyres.com