Nokia Oyj — Earnings Release 2004

Sep 9, 2004

News Details

Ad-hoc | 9 September 2004 15:24

Nokia expects to exceed its previous third-quarter 2004 guidance:

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Nokia expects to exceed its previous third-quarter 2004 guidance: Third quarter expected to result in EPS (diluted) of EUR 0.11 – EUR 0.13 and net sales of EUR 6.8 billion – EUR 6.9 billion September 9, 2004 – Helsinki, Finland – Nokia today raised its guidance for the third quarter 2004. Based on the developments in the first two months of the third quarter 2004, EPS (diluted) for Nokia is expected to be EUR 0.11 – EUR 0.13 compared to the previous guidance range of EUR 0.08 to EUR 0.10, as given on July 15, 2004. Net sales for the company are expected to reach EUR 6.8 billion – EUR 6.9 billion (previous guidance EUR 6.6 billion – EUR 6.8 billion). The global mobile device market has continued its strong volume growth in the third quarter 2004, and Nokia expects healthy sequential volume growth in its mobile device sales. The company has been able to deliver mobile devices in higher volumes than previously estimated despite industry-wide tightness in some components. Higher than expected volumes and cost control are anticipated to result in higher than expected net sales and EPS (diluted). Nokia will report full third quarter 2004 results on October 14, 2004. A conference call for investors is scheduled for 3:30 PM Helsinki time, 1:30 PM London time, and 8:30 AM New York time on September 9, 2004. Investors outside North America: +1 706 634-5012 Investors in North America: +1 888 636-1561 A replay of the conference call will be available on the following: Investors outside North America: +1 706 645 9291 Investors in North America: +1 800 642 1687 It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding: A) the timing of product and solution launches and deliveries; B) our ability to develop, implement and commercialize new products, solutions and technologies; C) expectations regarding market growth, developments and structural changes; D) expectations and targets for our results of operations; E) the outcome of pending and threatened litigation; and F) statements preceded by ”believe,” ”expect,” ”anticipate,” ”foresee” or similar expressions are forward-looking statements. Because these statements involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors that could cause these differences include, but are not limited to: 1) developments in the mobile communications industry and the broader mobility industry, including the development of the mobile software and services market, as well as industry consolidation and other structural changes; 2) timing and success of the introduction and roll out of new products and solutions; 3) demand for and market acceptance of our products and solutions; 4) the impact of changes in technology and the success of our product and solution development; 5) the intensity of competition in the mobility industry and changes in the competitive landscape; 6) our ability to control the variety of factors affecting our ability to reach our targets and give accurate forecasts; 7) pricing pressures; 8) the availability of new products and services by network operators and other market participants; 9) general economic conditions globally and in our most important markets; 10) our success in maintaining efficient manufacturing and logistics as well as the high quality of our products and solutions; 11) inventory management risks resulting from shifts in market demand; 12) our ability to source quality components without interruption and at acceptable prices; 13) our success in collaboration arrangements relating to technologies, software or new products and solutions; 14) the success, financial condition, and performance of our collaboration partners, suppliers and customers; 15) any disruption to information technology systems and networks that our operations rely on; 16) our ability to have access to the complex technology involving patents and other intellectual property rights included in our products and solutions at commercially acceptable terms and without infringing any protected intellectual property rights; 17) developments under large, multi- year contracts or in relation to major customers; 18) the management of our customer financing exposure; 19) exchange rate fluctuations, including, in particular, fluctuations between the euro, which is our reporting currency, and the US dollar, the UK pound sterling and the Japanese yen; 20) our ability to recruit, retain and develop appropriately skilled employees; 21) our ability to implement our new organizational structure; and 22) the impact of changes in government policies, laws or regulations; as well as 23) the risk factors specified on pages 12 to 21 of the company’s Form 20-F for the year ended December 31, 2003 under “Item 3.D Risk Factors.” Media and Investor Contacts: Corporate Communications, tel. +358 7180 34495 or +358 7180 34900 Investor Relations Europe, tel. +358 7180 34289 Investor Relations US, tel. +1 914 368 0555 http://www.nokia.com end of ad-hoc-announcement (c)DGAP 09.09.2004 ——————————————————————————– WKN: 870737; ISIN: FI0009000681; Index: Listed: Amtlicher Markt in Frankfurt (General Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 091524 Sep 04