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    NOKIA   FI0009000681

NOKIA OYJ

(NOKIA)
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Nokia Raises Guidance as 2Q Earnings Beat

07/29/2021 | 01:51am EDT

By Dominic Chopping

Nokia Corp. on Thursday posted a forecast-beating rise in second-quarter net profit and raised guidance, driven by market share gains and higher sales of its 5G network equipment.

The company's comparable net profit for the quarter rose to 532 million euros ($628.7 million) from EUR311 million a year earlier, as sales rose 4.3% to EUR5.31 billion.

Analysts polled by FactSet had expected comparable net profit of EUR238 million on sales of EUR5.15 billion.

On a reported basis, Nokia net profit rose to EUR344 million, it said.

The company said that considering its "robust" start to 2021, it now expects full-year net sales of EUR21.7 billion to EUR22.7 billion, from EUR20.6 billion-EUR21.8 billion previously. Adjusted operating margin for the year is now seen at 10%-12%, from 7%-10% previously, and free cash flow is now seen as being "clearly positive," compared with "positive" previously.

"We have executed faster than planned on our strategy in the first half which provides us with a good foundation for the full year," Chief Executive Pekka Lundmark said.

"We still, however, expect to face the earlier communicated headwinds in the second half, particularly with market-share loss and price erosion in North America," he said.

Nokia said it continues to accelerate research and development investments and monitor risks around component availability, considering the strong demand for its products.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

07-29-21 0150ET

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Analyst Recommendations on NOKIA OYJ
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Financials
Sales 2021 22 182 M 26 020 M 26 020 M
Net income 2021 1 159 M 1 360 M 1 360 M
Net cash 2021 3 465 M 4 065 M 4 065 M
P/E ratio 2021 22,9x
Yield 2021 0,74%
Capitalization 26 116 M 30 602 M 30 634 M
EV / Sales 2021 1,02x
EV / Sales 2022 0,95x
Nbr of Employees 92 039
Free-Float 93,3%
Chart NOKIA OYJ
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Technical analysis trends NOKIA OYJ
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 4,63 €
Average target price 5,74 €
Spread / Average Target 24,0%
EPS Revisions
Managers and Directors
Pekka Ilmari Lundmark President & Chief Executive Officer
Marco WirÚn Chief Financial Officer
Sari Maritta Baldauf Chairman
Nishant Batra Chief Strategy & Technology Officer
Kari Henrik Stadigh Vice Chairman
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