Nokia Oyj — Earnings Release 2001

Oct 19, 2001

News Details

Ad-hoc | 19 October 2001 12:06

Nokia Corp english

Nokia achieves third-quarter profitability targets Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Company continues strong market leadership posting pro forma pre-tax profit of nearly EUR 1.1 billion and net operating cash flow of EUR 1.4 billion – Third-quarter net sales were EUR 7 050 million, showing a decrease of 7% compared with the previous year. In Nokia Networks, net sales declined 14% and in Nokia Mobile Phones net sales decreased 3%. – Pro forma pre-tax profit was EUR 1 068 million. – Pro forma operating margin for Nokia was 15.2%, Nokia Networks 9.3% and Nokia Mobile Phones 19.0%. – Pro forma earnings per share (diluted) were EUR 0.16 compared with EUR 0.19 a year ago. – Non-cash pro forma adjustments for this quarter totaled EUR 787 million including a one-time charge of EUR 714 million to increase reserves for Telsim and Dolphin, resulting in reported net profit of EUR 186 million and reported EPS (diluted) of EUR 0.04 in the third quarter. end of ad-hoc-announcement (c)DGAP 19.10.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Jorma Ollila, Nokia Chairman and CEO, said: “Nokia, as a flexible, lean and focused organization has done more than just weather the storm of the past several months. We succeeded in sustaining solid profitability and high cumulative operating cash flow of EUR 3.9 billion for the first nine months in an intensely competitive and volatile environment. “While the market environment has had an inevitable impact on Nokia’s topline growth, we have continued to translate our core strengths of strong brand, excellence in execution and winning products into profitable results. In addition, we have not compromised on investments essential to our future business success. Nokia intends to remain at the forefront in providing useful and exciting ways for people to enrich their lives as well as new business opportunities for the wireless industry as a whole.” NOKIA Helsinki, October 19, 2001 For more information: Lauri Kivinen, Corporate Communications, tel. +358 7180 34495 Ulla James, Investor Relations, tel. +1 972 894 4880 Antti Räikkönen, Investor Relations, tel. +358 7180 34290 – Nokia will report 4Q 2001 results on January 24, 2002 and plans a mid-quarter update on December 11, 2001. – Results announcements for 1Q, 2Q and 3Q, 2002 are planned for April 18, July 18 and October 17, respectively. – The Annual General Meeting is expected to be held on March 21, 2002. (A full-length version of this release has been published on the Nokia website at http://www.nokia.com) ——————————————————————————– WKN: 870737; Index: Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 191206 Okt 01