Income Statement Nokia Oyj

Equities

NOKIA

FI0009000681

Communications & Networking

Market Closed - Nasdaq Helsinki Other stock markets 09:30:00 06/09/2024 pm IST			5-day change	1st Jan Change
3.846 ^EUR	-2.12%		-3.31%	+26.03%

04/09	Vodafone: calls for consolidation in Europe's 5G sector	CF
04/09	Nokia: calls for more 5G investment in Europe	CF

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Published financial data: NOKIA OYJ

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.33TCr	2.19TCr	2.22TCr	2.49TCr	2.23TCr
Total Revenues	2.33TCr	2.19TCr	2.22TCr	2.49TCr	2.23TCr
Cost of Goods Sold, Total	1.49TCr	1.33TCr	1.33TCr	1.46TCr	1.34TCr
Gross Profit	844.9Cr	858.6Cr	887.5Cr	1.03TCr	883.8Cr
Selling General & Admin Expenses, Total	304.2Cr	282.2Cr	269.2Cr	286.9Cr	260.4Cr
R&D Expenses	441.1Cr	389.7Cr	415.2Cr	451.3Cr	426.6Cr
Other Operating Expenses	-6.1Cr	18Cr	3.9Cr	20Cr	-6.5Cr
Other Operating Expenses, Total	739.2Cr	689.9Cr	688.3Cr	757.8Cr	680.5Cr
Operating Income	105.7Cr	168.7Cr	199.2Cr	272.8Cr	203.3Cr
Interest Expense, Total	-30Cr	-24Cr	-21Cr	-22Cr	-36Cr
Interest And Investment Income	7.3Cr	5.9Cr	4.9Cr	8.2Cr	22Cr
Net Interest Expenses	-23Cr	-18Cr	-16Cr	-14Cr	-14Cr
Income (Loss) On Equity Invest.	1.2Cr	2.2Cr	90L	-2.6Cr	-3.9Cr
Currency Exchange Gains (Loss)	-19Cr	-30L	-1.5Cr	-8.7Cr	-11Cr
Other Non Operating Income (Expenses)	20L	2Cr	-5Cr	-8Cr	-1.2Cr
EBT, Excl. Unusual Items	65Cr	155Cr	177.9Cr	239.5Cr	173.7Cr
Restructuring Charges	-44Cr	-65Cr	-26Cr	-17Cr	-35Cr
Merger & Related Restructuring Charges	-17Cr	1.1Cr	-	-	-
Impairment of Goodwill	-	-20Cr	-	-	-
Gain (Loss) On Sale Of Investments	4.7Cr	6.1Cr	19Cr	-4.5Cr	-5.6Cr
Gain (Loss) On Sale Of Assets	-1.1Cr	-90L	6.6Cr	70L	17Cr
Asset Writedown	-3.6Cr	-	-2Cr	-	-
Legal Settlements	-1.8Cr	-1.9Cr	9Cr	-	-
Other Unusual Items	13Cr	-	8Cr	-	-
EBT, Incl. Unusual Items	16Cr	74Cr	192.6Cr	218.4Cr	149.9Cr
Income Tax Expense	14Cr	325.6Cr	27Cr	-202.6Cr	82Cr
Earnings From Continuing Operations	1.8Cr	-251.3Cr	165.4Cr	421Cr	67Cr
Earnings Of Discontinued Operations	-70L	-30L	-90L	4.9Cr	50L
Net Income to Company	1.1Cr	-251.6Cr	164.5Cr	425.9Cr	68Cr
Minority Interest	-40L	-70L	-2.2Cr	-90L	-1.4Cr
Net Income - (IS)	70L	-252.3Cr	162.3Cr	425Cr	66Cr
Net Income to Common Incl Extra Items	70L	-252.3Cr	162.3Cr	425Cr	66Cr
Net Income to Common Excl. Extra Items	1.4Cr	-252Cr	163.2Cr	420.1Cr	66Cr
Per Share Items
Net EPS - Basic	0	-0.45	0.29	0.76	0.12
Basic EPS - Continuing Operations	0	-0.45	0.29	0.75	0.12
Basic Weighted Average Shares Outstanding	559.99Cr	561.24Cr	563Cr	561.42Cr	554.95Cr
Net EPS - Diluted	0	-0.45	0.29	0.75	0.12
Diluted EPS - Continuing Operations	0	-0.45	0.29	0.74	0.12
Diluted Weighted Average Shares Outstanding	562.64Cr	561.24Cr	568.42Cr	567Cr	558.59Cr
Normalized Basic EPS	0.07	0.17	0.19	0.27	0.19
Normalized Diluted EPS	0.07	0.17	0.19	0.26	0.19
Dividend Per Share	-	-	0.08	0.12	0.13
Payout Ratio	8T	-5.87	0.55	7.91	91.88
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	249.2Cr	259.6Cr	287.3Cr	364.3Cr	290.4Cr
EBITA	204.1Cr	215.9Cr	244.1Cr	319.3Cr	245.6Cr
EBIT	105.7Cr	168.7Cr	199.2Cr	272.8Cr	203.3Cr
EBITDAR	258.2Cr	261.8Cr	288.6Cr	-	-
Effective Tax Rate - (Ratio)	88.46	438.22	14.12	-92.77	55.04
Total Current Taxes	37Cr	30Cr	41Cr	43Cr	43Cr
Total Deferred Taxes	-23Cr	296.1Cr	-14Cr	-245.2Cr	39Cr
Normalized Net Income	40Cr	96Cr	108.99Cr	148.79Cr	107.16Cr
Interest on Long-Term Debt	2.8Cr	2.5Cr	2.4Cr	2.6Cr	2.8Cr
Non-Cash Pension Expense	-2.3Cr	-5.8Cr	-3.9Cr	-14Cr	-24Cr
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	449.4Cr	408.7Cr	421.4Cr	455Cr	432.7Cr
Net Rental Expense, Total	9Cr	2.2Cr	1.3Cr	-	-
Imputed Operating Lease Interest Expense	4.72Cr	70.14L	35.27L	-	-
Imputed Operating Lease Depreciation	4.28Cr	1.5Cr	94.73L	-	-
Stock-Based Comp., Other (Total)	7.7Cr	7.6Cr	12Cr	15Cr	20Cr
Total Stock-Based Compensation	7.7Cr	7.6Cr	12Cr	15Cr	20Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	591Cr	694Cr	669.1Cr	546.7Cr	623.4Cr
Short Term Investments	20Cr	118.5Cr	259.9Cr	308Cr	156.5Cr
Trading Asset Securities, Total	-	-	-	-	2.4Cr
Total Cash And Short Term Investments	611Cr	812.5Cr	929Cr	854.7Cr	782.3Cr
Accounts Receivable, Total	651.4Cr	658.3Cr	652.8Cr	675.2Cr	605.7Cr
Other Receivables	116.7Cr	109.6Cr	105.1Cr	98Cr	88Cr
Notes Receivable	-	-	-	-	-
Total Receivables	768.1Cr	767.9Cr	757.9Cr	773.6Cr	694.1Cr
Inventory	293.6Cr	224.2Cr	239.2Cr	326.5Cr	271.9Cr
Prepaid Expenses	-	-	-	10Cr	19Cr
Other Current Assets, Total	8.1Cr	17Cr	34Cr	62Cr	50Cr
Total Current Assets	1.68TCr	1.82TCr	1.96TCr	2.03TCr	1.82TCr
Gross Property Plant And Equipment	559.7Cr	582.3Cr	642Cr	691Cr	685.7Cr
Accumulated Depreciation	-282.9Cr	-323.5Cr	-361.2Cr	-396.6Cr	-400Cr
Net Property Plant And Equipment	276.8Cr	258.8Cr	280.8Cr	294.4Cr	285.7Cr
Long-term Investments	135Cr	128.4Cr	100.1Cr	172.4Cr	178.4Cr
Goodwill	552.7Cr	507.4Cr	543.1Cr	679.9Cr	550.4Cr
Other Intangibles, Total	242.9Cr	195.3Cr	162Cr	13Cr	108.6Cr
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	512.4Cr	182.2Cr	127.2Cr	383.4Cr	387.3Cr
Other Long-Term Assets, Total	512.2Cr	525.5Cr	832Cr	724.5Cr	659Cr
Total Assets	3.91TCr	3.62TCr	4TCr	4.29TCr	3.99TCr
Liabilities
Accounts Payable, Total	378.6Cr	317.4Cr	367.9Cr	473Cr	342.3Cr
Accrued Expenses, Total	247.6Cr	292.1Cr	314.1Cr	300.2Cr	234.5Cr
Short-term Borrowings	29Cr	-	-	-	-
Current Portion of Long-Term Debt	-	56Cr	12Cr	33Cr	58Cr
Current Portion of Leases	26Cr	19Cr	18Cr	18Cr	20Cr
Current Income Taxes Payable	19Cr	19Cr	20Cr	18Cr	20Cr
Unearned Revenue Current, Total	290.7Cr	254.9Cr	244.8Cr	197.7Cr	215.7Cr
Other Current Liabilities	214.8Cr	217.9Cr	233Cr	236.9Cr	202.5Cr
Total Current Liabilities	1.21TCr	1.18TCr	1.21TCr	1.28TCr	1.09TCr
Long-Term Debt	398.5Cr	501.5Cr	453.7Cr	424.9Cr	363.7Cr
Long-Term Leases	77Cr	72Cr	82Cr	86Cr	80Cr
Unearned Revenue Non Current	153Cr	102.6Cr	66Cr	12Cr	21Cr
Pension & Other Post Retirement Benefits	434.3Cr	404.6Cr	340.8Cr	245.9Cr	229.9Cr
Deferred Tax Liability Non Current	39Cr	26Cr	28Cr	33Cr	72Cr
Other Non Current Liabilities	65Cr	82Cr	78Cr	72Cr	63Cr
Total Liabilities	2.37TCr	2.36TCr	2.26TCr	2.15TCr	1.92TCr
Common Stock, Total	25Cr	25Cr	25Cr	25Cr	25Cr
Additional Paid In Capital	43Cr	44Cr	45Cr	50Cr	63Cr
Retained Earnings	-161.3Cr	-414.3Cr	-253.7Cr	137.5Cr	140.4Cr
Treasury Stock	-35Cr	-35Cr	-35Cr	-35Cr	-35Cr
Comprehensive Income and Other	1.66TCr	1.63TCr	1.95TCr	1.96TCr	1.86TCr
Total Common Equity	1.53TCr	1.25TCr	1.74TCr	2.13TCr	2.05TCr
Minority Interest	7.6Cr	8Cr	10Cr	9.3Cr	9.1Cr
Total Equity	1.54TCr	1.25TCr	1.75TCr	2.14TCr	2.06TCr
Total Liabilities And Equity	3.91TCr	3.62TCr	4TCr	4.29TCr	3.99TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	560.56Cr	561.75Cr	563.5Cr	558.7Cr	552.56Cr
ECS Total Common Shares Outstanding	560.56Cr	561.75Cr	563.5Cr	558.7Cr	552.56Cr
Book Value / Share	2.73	2.22	3.08	3.82	3.72
Tangible Book Value	736.9Cr	543.8Cr	1.03TCr	1.44TCr	1.39TCr
Tangible Book Value Per Share	1.31	0.97	1.83	2.58	2.52
Total Debt	530.7Cr	648.6Cr	566.2Cr	561.8Cr	521.6Cr
Net Debt	-80Cr	-163.9Cr	-362.8Cr	-292.9Cr	-260.7Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	-337.8Cr	-376.7Cr	-568Cr	-535.7Cr	-484.2Cr
Debt Equivalent Oper. Leases	72Cr	18Cr	10Cr	-	-
Minority Interest, Total (Incl. Fin. Div)	7.6Cr	8Cr	10Cr	9.3Cr	9.1Cr
Equity Method Investments, Total	16Cr	23Cr	24Cr	20Cr	8.8Cr
Account Code - Inventory Valuation	3	3	5	5	5
Inventories - Raw Materials, Total	57Cr	55Cr	67Cr	107.5Cr	115.6Cr
Inventories - Work In Process, Total	128.1Cr	75Cr	68Cr	82Cr	58Cr
Inventories - Finished Goods, Total	108.7Cr	94Cr	103.9Cr	137.5Cr	98Cr
Land - (BS)	-	126.5Cr	122.8Cr	140.9Cr	143.4Cr
Buildings, Total	119.4Cr	-	-	-	-
Machinery, Total	298.9Cr	313.5Cr	337.1Cr	358.9Cr	354.7Cr
Full Time Employees	93.78T	92.04T	87.93T	86.9T	86.69T
Part Time Employees	947	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	15Cr	30Cr	-	-	-
Order Backlog	1.88TCr	1.66TCr	2.03TCr	1.95TCr	2.2TCr

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	70L	-252.3Cr	162.3Cr	425Cr	66Cr
Depreciation & Amortization - CF	68Cr	66Cr	65Cr	68Cr	66Cr
Amortization of Goodwill and Intangible Assets - (CF)	98Cr	47Cr	45Cr	46Cr	42Cr
Depreciation & Amortization, Total	166Cr	113.2Cr	109.5Cr	114Cr	108.7Cr
Minority Interest in Earnings - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-6.3Cr	-30L	-5.9Cr	-3.5Cr	-14Cr
(Gain) Loss on Sale of Investments - (CF)	6.6Cr	-5.6Cr	-19Cr	-2.7Cr	5.6Cr
Asset Writedown & Restructuring Costs	43Cr	70Cr	22Cr	28Cr	34Cr
(Income) Loss On Equity Investments - (CF)	-1.2Cr	-2.6Cr	-90L	2.6Cr	-
Stock-Based Compensation (CF)	8.1Cr	7.6Cr	11Cr	15Cr	20Cr
Net Cash From Discontinued Operations	-60L	-	-	-	-
Other Operating Activities, Total	1.2Cr	317.4Cr	10Cr	-246.3Cr	39Cr
Change In Accounts Receivable	16Cr	-42Cr	24Cr	-45Cr	30Cr
Change In Inventories	28Cr	55Cr	-4.8Cr	-99Cr	44Cr
Change in Other Net Operating Assets	-223.2Cr	-84Cr	-46Cr	-40Cr	-202.9Cr
Cash from Operations	39Cr	175.9Cr	262.5Cr	147.4Cr	131.7Cr
Capital Expenditure	-69Cr	-48Cr	-56Cr	-60Cr	-65Cr
Sale of Property, Plant, and Equipment	3.9Cr	1.3Cr	10Cr	3.3Cr	19Cr
Cash Acquisitions	-	-10Cr	-3.3Cr	-2Cr	-1.9Cr
Divestitures	1.9Cr	1.1Cr	-	-	1.7Cr
Investment in Marketable and Equity Securities, Total	48Cr	-97Cr	-124.7Cr	-126.4Cr	147.8Cr
Net (Increase) Decrease in Loans Originated / Sold - Investing	-2.1Cr	-	-	-	-
Other Investing Activities, Total	40L	1Cr	-5.8Cr	-2.8Cr	3Cr
Cash from Investing	-17Cr	-151.7Cr	-179.5Cr	-188Cr	104.3Cr
Short Term Debt Issued, Total	4Cr	-	-	2.7Cr	-
Long-Term Debt Issued, Total	103.9Cr	159.5Cr	1.7Cr	80L	50Cr
Total Debt Issued	107.9Cr	159.5Cr	1.7Cr	3.5Cr	50Cr
Short Term Debt Repaid, Total	-	-8.3Cr	-6.7Cr	-	-4Cr
Long-Term Debt Repaid, Total	-99Cr	-48Cr	-115.3Cr	-22Cr	-103.7Cr
Total Debt Repaid	-99Cr	-56Cr	-122Cr	-22Cr	-107.7Cr
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-30Cr	-30Cr
Common Dividends Paid	-56Cr	-15Cr	-90L	-34Cr	-61Cr
Common & Preferred Stock Dividends Paid	-56Cr	-15Cr	-90L	-34Cr	-61Cr
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-1.1Cr	-10L	-	-1.7Cr	-1Cr
Cash from Financing	-48Cr	88Cr	-121.2Cr	-84Cr	-150.2Cr
Foreign Exchange Rate Adjustments	-9.5Cr	-9.5Cr	13Cr	1.9Cr	-9.1Cr
Net Change in Cash	-35Cr	103Cr	-25Cr	-122.4Cr	77Cr
Supplemental Items
Cash Interest Paid	10L	3.5Cr	19Cr	18Cr	24Cr
Cash Income Tax Paid (Refund)	52Cr	28Cr	31Cr	38Cr	58Cr
Levered Free Cash Flow	46Cr	175.15Cr	238.62Cr	132.72Cr	95Cr
Unlevered Free Cash Flow	65Cr	189.84Cr	251.5Cr	146.6Cr	117.36Cr
Change In Net Working Capital	106Cr	-12Cr	-62Cr	93Cr	73Cr
Net Debt Issued / Repaid	9.2Cr	103.2Cr	-120.3Cr	-18Cr	-58Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.68	2.8	3.27	4.11	3.07
Return on Total Capital	3.31	5.31	5.91	6.8	4.8
Return On Equity %	0.12	-17.98	11.02	21.65	3.21
Return on Common Equity	0.09	-18.14	10.94	21.71	3.15
Margin Analysis
Gross Profit Margin %	36.24	39.29	39.97	41.37	39.71
SG&A Margin	13.05	12.91	12.12	11.52	11.7
EBITDA Margin %