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6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Apr 19 01:22
Summary by Futu AI
Nokia Corporation released its interim report for Q1 2024 on April 18, 2024, revealing a 19% year-over-year decline in net sales in constant currency, attributed to market weakness. Despite the challenging environment, the company reported an improvement in order trends, especially in Network Infrastructure. The comparable gross margin increased significantly to 48.6%, and the comparable operating margin rose to 12.8%, driven by strong performance in Nokia Technologies due to significant catch-up net sales and improvements in Mobile Networks. The company's Q1 comparable diluted EPS was EUR 0.09, and it generated nearly EUR 1 billion in free cash flow, with a net cash balance of EUR 5.1 billion. Nokia maintains its full-year 2024 outlook, expecting a comparable operating profit of EUR 2.3 billion to EUR 2.9 billion and a free...Show More
Nokia Corporation released its interim report for Q1 2024 on April 18, 2024, revealing a 19% year-over-year decline in net sales in constant currency, attributed to market weakness. Despite the challenging environment, the company reported an improvement in order trends, especially in Network Infrastructure. The comparable gross margin increased significantly to 48.6%, and the comparable operating margin rose to 12.8%, driven by strong performance in Nokia Technologies due to significant catch-up net sales and improvements in Mobile Networks. The company's Q1 comparable diluted EPS was EUR 0.09, and it generated nearly EUR 1 billion in free cash flow, with a net cash balance of EUR 5.1 billion. Nokia maintains its full-year 2024 outlook, expecting a comparable operating profit of EUR 2.3 billion to EUR 2.9 billion and a free cash flow conversion rate of 30% to 60%. The report also announced a dividend distribution of EUR 0.04 per share to be paid on May 3, 2024, and the continuation of a share buyback program. Nokia's CEO, Pekka Lundmark, expressed confidence in a stronger second half of the year and achieving the full-year outlook, citing improvements in order intake and gross margin.

This announcement is a separate document:

Doc 1

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