Nokia Corporation Interim Report for Q1 2014
FINANCIAL AND OPERATING HIGHLIGHTS
First quarter 2014 highlights for continuing operations*:
Nokia's non-IFRS diluted EPS in Q1 2014 of EUR 0.04 (0.01 in Q1 2013); reported diluted EPS of EUR 0.03 (-0.03 in Q1 2013)
Nokia's net sales in Q1 2014 were EUR 2.7 billion, down 15% compared to Q1 2013.
- In Q1 2014, underlying operating profitability for Nokia's continuing operations increased to EUR 304 million, or 11.4% of net sales, compared to EUR 254 million, or 8.1% of net sales, in Q1 2013.
- Networks achieved solid underlying operating profitability, with Q1 2014 non-IFRS operating profit of EUR 216 million, or 9.3% of net sales, compared to EUR 196 million, or 7.0%, in Q1 2013. This was primarily due to a higher gross margin which benefitted from a higher proportion of software sales, significant efficiency improvements in Global Services and a higher proportion of Mobile Broadband sales.
- HERE's external net sales were EUR 185 million, an increase of 13% year-on-year, driven by strong sales to vehicle customers.
- Technologies entered in to an agreement with HTC, validating Nokia's implementation patents and enabling Technologies to focus on further licensing opportunities.
*See note 4 to our Summary Financial Information table below concerning our current operational and reporting structure
Balance sheet highlights:
- Nokia Group ended Q1 2014 with a strong balance sheet and solid cash position with gross cash of EUR 6.9 billion and net cash of EUR 2.1 billion compared to EUR 9.0 billion and EUR 2.3 billion, respectively, at the end of Q4 2013. The sequential decline in Nokia's gross cash was primarily due to repayment of certain debt facilities totalling approximately EUR 1.8 billion during the first quarter 2014.
- If the transaction to sell to Microsoft substantially all of our Devices & Services business would have closed before the end of the first quarter 2014, Nokia would have ended the quarter with gross cash of approximately EUR 10.5 billion and net cash of approximately EUR 7.1 billion.
RM-SYSTÉM, česká burza cenných papírů a.s.
- Nokia Corporation - Financial Report for Q1 2021 (30.04.2021 16:20)
- Nokia Corporation - Changes in Nokia Corporation's own shares (15.04.2021 16:23)
- Nokia Corporation - Usnesení výroční VH a představenstva společnosti Nokia Corporation (13.04.2021 14:15)
- Nokia Corporation - Report on Form 20-F for 2020, published its Nokia in 2020 Annual Report (09.03.2021 14:26)
- Nokia Corporation - Changes in Nokia Corporation's own shares (11.02.2021 15:23)