NOKIA, Finland—Nokian Tyres P.L.C. reported record sales and earnings last year, and management expects improvement this year despite slow start.
For the year ended Dec. 31, Nokian reported net income increased 7.1 percent to $423.3 million on a 10.7-percent hike in sales.
Operating profits rose 9.2 percent to $533.4 million.
For fiscal 2013, Nokian anticipates steady growth in Russia and the Nordic countries and said pressure on margins will ease because of falling raw materials prices.