"Nizhnekamskshina" doubled its net profit

In the first half of 2024, the revenue of PJSC "Nizhnekamskshina" amounted to 6.2 billion rubles, an increase of 20.1% compared to January-June 2023, according to the company's report.

Gross profit grew by 71% to 821 million rubles, and net profit by 123% to 305.4 million rubles.

Last year, Nizhnekamskshina's revenue was 11.1 billion rubles, and the company occupied 22% of the domestic market for tires for passenger and light commercial vehicles, with products also being supplied to 13 automakers. The secondary market accounted for 81% of the company's sales, and due to "structurization and building an effective distribution network", the turnover increased by 14% compared to 2022.

Summing up the results of the previous year, Nizhnekamskshina also noted that due to Western sanctions and aggressive price competition from Chinese manufacturers in the neighboring countries, the implementation of products was reoriented to the domestic Russian market.

At the moment, new winter tires from Nizhnekamskshina, to be called Viatti Nordicco 2, are being prepared for the premiere.