NKRKF - Nokian Renkaat Oyj (NKRKF) Q2 2024 Earnings Call Transcript
2024-07-19 11:24:04 ET
Nokian Renkaat Oyj (NKRKF)
Q2 2024 Earnings Conference Call
July 19, 2024, 7:00 AM ET
Company Participants
Paivi Antola - Investor Relations
Jukka Moisio - President and Chief Executive Officer
Niko Haavisto - Chief Financial Officer
Conference Call Participants
Miika Ihamaki - DNB Markets
Boleslaw Lasocki - Thomson Reuters
Thomas Besson - Kepler Cheuvreux
Rauli Juva - Inderes
Akshat Kacker - JPMorgan
Artem Beletski - SEB
Pierre-Yves Quemener - Stifel
Pasi Vaisanen - Nordea
Michael Jacks - Bank of America
Presentation
Paivi Antola
Good afternoon from Helsinki and welcome to Nokian Tyres Q2 2024 Results Conference Call. My name is Paivi Antola, I am heading the Investor Relations in Nokian Tyres. And together in this call I have Jukka Moisio, the President and CEO of the company and Niko Haavisto, the CFO.
As usual, in this call, we will go through the results and talk about some other topics as well, and these will be presented by Jukka and Niko followed by a Q&A.
So Jukka, floor is yours.
Jukka Moisio
Thank you, Paivi. Welcome on my behalf and indeed we'll talk about the results and some of the recent highlights that have happened in the company, but we will go through the presentation. I go through the presentation called improved tire availability driving sales growth in a challenging environment dated on July 19 and I moved to page one which is the Romanian factory in progress. And we reported on July 1 that the first tire was manufactured at Oradea factory in Romania.
We are going to remind that the commercial production is expected to start in early 2025. However, the 60-member launch team has been trained in Finland and they are now ready to start the preparations for the commercial production. And we are also saying that the investment is in budget and on schedule, and indeed this is the first zero CO2 emission tire factory in the world. And so in that sense we are making history. And you see the theme and you see also the first tire making Romania on page two.
And then I move to page three which is just an aerial picture of the Romania factory, the site in June 2024 and on the left-hand side you see the mixing building which is being prepared right now. You see in the middle the production building and also on the right-hand side the small office which is part of the production building and then on the right-hand side finished goods warehouse. And as you see at the end of June, the site has been prepared, the buildings are being prepared and we are very much on schedule to have the ribbon cutting in September and then to have the full commercial production in early 2025....
Nokian Renkaat Oyj (NKRKF) Q2 2024 Earnings Call Transcript