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Tyre maker Nokian lifts margin forecast after narrow earnings beat

By Reuters News

Oct 27 (Reuters) - Finnish tyre maker Nokian TYRES.HE reported slightly higher-than-expected quarterly core earnings and raised the bottom end of its profitability forecast on Tuesday, aided by lower costs of production.

It now expects a core operating profit margin of 9% to 10% in 2026, having previously guided for 8% to 10%.

Nokian's adjusted operating profit rose 45% from a year ago to €47 million ($52 million) in the third quarter, while analysts polled by the company were expecting €43.6 million on average.

Higher prices and cost savings drove the result higher, CEO Paolo Pompei said in a statement, but warned of continued market uncertainty.

European manufacturers of tyres and other car parts have faced stagnating sales volumes as rising inflation weighs on demand for new vehicles. Many top automakers, including Volkswagen and Volvo Cars, have launched big cost-cutting initiatives to offset slumping profits.

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