Nokian, Lanxess, Bekaert all announce Q1 results

London - As the first quarter reporting season accelerates, Nokian, Bekaert and Lanxess all reported their Q1 results today.

Nokian Tyres said net sales were up by 33.8 percent to €199.9 million (Q1/2006: €149.4 million). Operating profit improved to €39.0 million (€13.4 million). Net sales of all profit centres were up, and operating profit improved. In 2007, the company said it is positioned to achieve strong sales growth and to outperform the year 2006 in line with the previous years.

In a statement, the company said, "The replacement markets of passenger car tyres in Russia, the CIS countries and Eastern Europe grew from the previous year. The Nordic tyre markets grew slightly. The winter tyre, SUV tyre and high-speed summer tyre markets accounted

for the strongest growth. Demand for winter tyres was brisk in the first quarter. Consumer sales of summer tyres in the Nordic countries began, but the main season is in the second quarter. The demand for heavy special tyres and truck tyres continued to be strong. Several tyre manufacturers raised the prices in response to the increase in the raw material prices."

Lanxess said, "Sales in the Performance Rubber segment in the first quarter of 2007 grew by 3 percent to €451 million (Q1 2006: €438 million). Further increases in petrochemical feedstock costs were passed along to the market through higher price levels in the segment as a whole.

"Volumes in the Butyl Rubber business unit rose considerably. The Polybutadiene Rubber business unit achieved slight price and volume increases. Business expanded in Asia-Pacific, while the weakness in the North American automotive economy that has persisted since mid-2006 hampered business in the Americas region. EBITDA pre exceptionals came in at €70 million, almost level with the prior year. The segment's 15.5 percent EBITDA margin pre exceptionals was level with the first quarter of 2006."

Bekaert's rapid growth in the Chinese steelcord market continued, with a 49 percent increase in sales. Sales of steelcord in other areas declined by 6 percent on lower activity in North America due to the Goodyear strike and currency movement.

Overall in advanced wire products, the company recorded sales of €437 million, up by 8 percent on the quarter a year earlier.

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Nokian results (press release)

Lanxess results (Lanxess website)

Bekaert results (Bekaert website)