Nokia Corporation Interim Report for Q3 and January-September 2020

Nokia Corporation Interim Report for Q3 and January-September 2020

Solid margin and free cash flow; net sales decline primarily due to services

• Continued improvements in our Mobile Access portfolio; reducing product costs and improving product performance; commitment to invest in R&D to drive product leadership
• 7% year-on-year decrease in net sales, largely driven by lower services within Mobile Access, consistent with our expectation for lower network deployment services
• Strong year-on-year growth in Nokia Enterprise
• Continued margin expansion year-on-year, primarily driven by Mobile Access and Optical Networks
• Positive operating profit, on a reported basis, in Q3 and first nine months of 2020
• Solid free cash flow in Q3 and the first nine months of 2020
• Adjusted 2020 outlook midpoints for non-IFRS EPS to EUR 0.23 (from EUR 0.25) and operating margin to 9.0% (from 9.5%), with the new midpoints and ranges within the previously provided outlook ranges
• Provided new outlook for 2021 non-IFRS operating margin of 7-10%
• Long term outlook to be provided latest at the Capital Markets Day on March 18, 2021

Full press release (ENG)