GlobeNewswire by notified

Nokia expects to exceed 2021 financial guidance and provides operating margin guidance for 2022

Share

Nokia Corporation 
Inside information
11 January 2022 at 09:15 EET

Nokia expects to exceed 2021 financial guidance and provides operating margin guidance for 2022

Espoo, Finland – Nokia is today providing an update to its financial guidance for 2021 and a comparable operating margin guidance for 2022.

In Q4 2021 Nokia’s underlying business performed largely as expected. However, other operating income was higher than expected including further benefits from venture fund investments, leading to a stronger comparable operating margin exceeding the 2021 guidance.

Based on preliminary and unaudited financial results for 2021 Nokia now estimates net sales of approximately €22.2bn within its previous guidance of €21.7 to 22.7bn and a comparable operating margin of 12.4 to 12.6% above its previous guidance of 10 to 12%. The company estimates it has benefited from approximately 150bps of one-offs in financial year 2021 to its comparable operating margin (up from 100bps expected at our Q3 earnings) related to venture fund investments, a one-off software contract in Q2, bad debt provision reversals and some other one-time benefits.

Updated 2021 guidance based on preliminary and unaudited 2021 financials:

Previous (28 Oct ’21) Updated
Net sales €21.7bn to €22.7bn1 Approx. €22.2bn
Comparable operating margin 10 to 12% 12.4 to 12.6%
Free cash flow Clearly positive Clearly positive
Comparable ROIC 17 to 21% 17 to 21%

1 Assuming actual currency rates until Sept 2021 and end of Sept EUR/USD rate of 1.16 continues in the remainder of 2021.

2022 outlook:

Nokia is also introducing a new comparable operating margin guidance for financial year 2022 of 11% to 13.5%. This new guidance considers estimated continued improvements in the underlying business, supply constraints and cost inflation, with the year-on-year progression also impacted by the significant one-offs seen in 2021.

The company will release its fourth quarter and full year 2021 financial results on Thursday 3 February 2022 when it will also revisit its longer-term outlook.

Nokia will conduct a conference call with analysts and investors to discuss its fourth quarter performance and business outlook on 3 February 2022 at 11:30am EET / 9:30am BST / 4:30am US EST.

About Nokia
At Nokia, we create technology that helps the world act together.

As a trusted partner for critical networks, we are committed to innovation and technology leadership across mobile, fixed and cloud networks. We create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

Adhering to the highest standards of integrity and security, we help build the capabilities needed for a more productive, sustainable and inclusive world.

Inquiries:

Nokia
Communications
Phone: +358 10 448 4900
Email: press.services@nokia.com
Katja Antila, Head of Corporate Communications

Nokia
Investor Relations
Phone: +358 40 803 4080
Email: investor.relations@nokia.com

Forward-looking statements

Nokia and its business are exposed to a number of risks and uncertainties which include but are not limited to (i) competitive intensity, which is particularly impacting Mobile Networks and is expected to continue at a high level; (ii) our ability to accelerate our product roadmaps and cost competitiveness through additional 5G investments; (iii) some customers are reassessing their vendors in light of security concerns, creating near-term pressure to invest in order to secure long-term benefits; (iv) the scope and duration of the COVID-19 impact, and the pace and shape of the economic recovery following the pandemic; (v) our ability to procure certain standard components and the costs thereof, such as semiconductors; and the disturbance in the global supply chain, including shortage of individual components, including semiconductors, which will continue to pose a risk for impact on sales; (vi) the timing of completions and acceptances of certain projects; (vii) our product and regional mix; (viii) macroeconomic, industry and competitive dynamics; (ix) the timing and value of new and existing patent licensing agreements with smartphone vendors, automotive companies and consumer electronics companies; (x) our ability to meet our sustainability targets, including with respect to changes to our greenhouse gas emission; (xi) results in brand and technology licensing; costs to protect and enforce our intellectual property rights; and the regulatory landscape for patent licensing; as well as the risk factors specified under Forward-looking Statements of this report, and our 2020 annual report on Form 20-F published on March 4, 2021 under Operating and financial review and prospects-Risk factors.
Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia's current expectations and views of future developments and include statements regarding: A) our expectations, plans, benefits or outlook related to our strategies, product launches, growth management and operational key performance indicators and B) preliminary and unaudited 2021 financial results. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in the preceding risk factors above.

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Calibre Enters Pre-Commissioning and Commissioning Contract with Reliable Controls Corporation and Executes A Gold Prepayment28.3.2024 11:00:16 CET | Press release

VANCOUVER, British Columbia, March 28, 2024 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce the Company has entered into a key pre-commissioning and commissioning contract with Reliable Controls Corporation of Salt Lake City (“RCC”) for the Company’s Valentine Gold Mine (“VGM”) in Newfoundland and Labrador. The Company has also executed a US$60 million short term, gold prepayment agreement with Asahi Refining USA Inc. (“Asahi”), pursuant to which Asahi has agreed to purchase a total of 27,600 ounces of gold from the Company, comprising less than 10% of the Company’s expected 2024 gold production. Darren Hall, President and Chief Executive Officer of Calibre, stated: “With construction at Valentine 61% complete I remain confident in our ability to deliver first gold during H1, 2025. To further derisk delivery, I am pleased to announce that we have secured RCC, a team of highly experienced commissioning experts to lead

Zymeworks Announces Appointment of Dr. Neil Gallagher to its Board of Directors28.3.2024 11:00:00 CET | Press release

VANCOUVER, British Columbia, March 28, 2024 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat diseases, today announced the appointment of Dr. Neil Gallagher to its board of directors effective April 2, 2024. “Dr. Gallagher is the sixth director to join our board of directors in the past twelve months as we continue to refresh and strengthen the Board governance and oversight required for the next stage of the Company’s development and growth,” said Kenneth Galbraith, Chair and Chief Executive Officer of Zymeworks. “His experience and leadership in leading multiple development programs through to global regulatory approval will support our efforts to rapidly advance our ‘5 by 5’ programs into clinical studies and our continued pipeline expansion of novel antibody-drug conjugates and multispecific antibodies in the years a

NGS Group AB: NGS Group AB (publ) offentliggör prospekt avseende tidigare offentliggjord företrädesemission och riktad emission28.3.2024 10:20:00 CET | Pressemelding

NGS Group AB (publ) offentliggör prospekt avseende tidigare offentliggjord företrädesemission och riktad emission NGS Group AB (publ) ("NGS Group" eller "Bolaget"), offentliggjorde den 29 februari 2024 att styrelsen, under förutsättning av bolagsstämmans efterföljande godkännande, fattat beslut om en kapitalanskaffning om högst cirka 51,3 MSEK (“Transaktionen”), som omfattas av en företrädesemission av aktier om högst cirka 35,2 MSEK (”Företrädesemissionen”) samt en riktad emission av aktier till strategiska investerare om högst cirka 16,1 MSEK (den “Riktade Emissionen”). Den 26 mars 2024 godkände extra bolagsstämman styrelsens beslut om Företrädesemissionen och den Riktade Emissionen. Prospektet för Företrädesemissionen och den Riktade Emissionen har idag godkänts och registrerats av Finansinspektionen samt offentliggjorts på Bolagets hemsida. Publicering av prospektet Fullständig information om Företrädesemissionen och den Riktade Emissionen återfinns i det prospekt som har upprättat

New number of votes and shares outstanding28.3.2024 10:00:00 CET | Press release

Where the company increases or reduces the total number of shares or votes in the company, the company shall by law publish information regarding the change. At the 2011 Annual General Meeting, a share conversion clause was added to Industrivärden’s articles of association. Shareholders have the right at any time to request conversion of Class A shares to Class C shares. During the month of March 2024, 5,017,577 Class A shares were converted to 5,017,577 Class C shares. Following the share conversion, the number of votes in the company is 266,190,340.3. The total number of registered shares in the company is 431,899,108, of which 247,778,255 are Class A shares and 184,120,853 are Class C shares. Stockholm, March 28, 2024 AB INDUSTRIVÄRDEN (publ) For further information, please contact: Sverker Sivall, Head of Corporate Communications and Sustainability, tel. +46-8-666 64 00 This information is information that AB Industrivärden is obliged to make public pursuant to the Financial Instru

Nytt antal röster och utestående aktier28.3.2024 10:00:00 CET | Pressemelding

Bolaget har en skyldighet enligt lag att offentliggöra uppgifter om en förändring i totala antalet aktier eller röster i bolaget. Vid årsstämman 2011 infördes ett omvandlingsförbehåll i Industrivärdens bolagsordning. Aktieägare har rätt att när som helst begära omvandling av A-aktier till C-aktier. Under mars månad 2024 har omvandlingar skett av 5 017 577 A-aktier till 5 017 577 C-aktier. Efter omvandlingen uppgår antalet röster i bolaget till 266 190 340,3. Det totala antalet registrerade aktier i bolaget uppgår till 431 899 108, varav 247 778 255 A-aktier och 184 120 853 C-aktier. Stockholm den 28 mars 2024 AB INDUSTRIVÄRDEN (publ) För ytterligare information kontakta: Sverker Sivall, Kommunikations- och hållbarhetschef, tel. 08-666 64 00 Denna information är sådan information som AB Industrivärden är skyldigt att offentliggöra enligt lagen om handel med finansiella instrument. Informationen lämnades, genom kommunikations- och hållbarhetschefen Sverker Sivalls försorg (tel. 08-666 64

HiddenA line styled icon from Orion Icon Library.Eye