Nokia Corporation Interim Report
October 29, 2015 at 08:00 (CET +1)
Nokia Corporation Interim Report for Q3 2015 and January-September 2015
Nokia raises full year outlook for Networks based on strong Q3**
** This is a summary of the Nokia Corporation interim report for third quarter 2015 and January-September 2015 published today. The complete interim report for third quarter 2015 and January-September 2015 with tables is available at http://company.nokia.com/en/financials. Investors should not rely on summaries of our interim reports only, but should review the complete interim reports with tables.
FINANCIAL HIGHLIGHTS FOR NOKIA'S CONTINUING OPERATIONS
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Net sales in Q3 2015 of EUR 3.0 billion (EUR 3.1 billion in Q3 2014), down 2% year-on-year (down 10% year-on-year on a constant currency basis)
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Non-IFRS diluted EPS in Q3 2015 of EUR 0.08 (EUR 0.09 in Q3 2014), a decrease of 11% year-on-year; reported diluted EPS in Q3 2015 of EUR 0.05 (EUR 0.57 in Q3 2014). Reported diluted EPS in Q3 2014 benefitted from the recognition of a deferred tax asset due to Nokia's improved operating performance
Nokia Networks
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2% year-on-year net sales decrease (11% year-on-year decrease on a constant currency basis), as strong net sales growth in Greater China partially offset decreases in North America and Europe. On a sequential basis, strong net sales growth in Greater China also helped to offset the impact of industry seasonality
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Strong non-IFRS gross margin of 39.5% due to both Global Services and Mobile Broadband, with particular strength in the systems integration business line within Global Services
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Non-IFRS operating margin of 13.6% reflected strong operational performance and continued focus on execution excellence. Non-IFRS operating profit decreased 2% year-on-year
Nokia Technologies
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7% year-on-year net sales growth, primarily due to higher intellectual property licensing income
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4% year-on-year decrease in non-IFRS operating profit, primarily due to higher investments in business activities which target long-term growth opportunities
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