Finland's Nokia Tire recently announced that its net sales in 2012 reached 1.61 billion euros, an increase of 10.7% year-on-year, and net sales for 2011 were 1.46 billion euros.
Among all business units, sales of Nokia passenger car tires reached 12.2 billion euros in 2012, an increase of 13.9% year-on-year; sales of heavy-duty tires fell, dropping 7.4% from 2011 to 104 million euros; truck tire sales fell year-on-year 10.8% to US$ 52.9 million.
From the perspective of regional markets, Russia and the Commonwealth of Independent States (CIS) contributed 35% of net sales for Nokia Tire in 2012, which jumped to the company’s largest regional market; Nokia Tire’s 2011 largest regional market for Central and Eastern Europe Last year, the company only contributed 23% of sales to the company and retreated to the second largest regional market. The company’s sales in Finland’s local market last year accounted for 14% of its total sales.
Nokia Tire's operating profit in 2012 reached 420 million euros, an increase of 9.2% from 380 million euros in 2011, but operating profit margin declined, falling from 26.1% in 2011 to 25.7%.
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