Regrouping of Nokia quarterly and full year 201...
Nokia Corporation
Stock exchange release
July 19, 2011 at 15:00 (CET +1)
Espoo, Finland - Nokia today provided historical results for its Devices &
Services business, regrouped for comparability purposes according to the new
reporting format that reflects the operational structure that became effective
on April 1, 2011.
The historical results set forth below for each quarter and the full year of
2010 as well as the first quarter of 2011 are reported results regrouped (on an
unaudited basis) for comparability purposes according to Nokia's four reportable
segments effective from April 1, 2011:
- Smart Devices (within Devices & Services)
- Mobile Phones (within Devices & Services)
- NAVTEQ
- Nokia Siemens Networks
The key financial performance measures provided for these segments include net
sales, gross margin as well as an additional measure of profit. For Smart
Devices and Mobile Phones, we present these segments' profit contribution, which
consists of revenues less these segments' own costs as well as their directly
assignable and allocated costs. For NAVTEQ and Nokia Siemens Networks, we
present operating profit.
Devices & Services Other primarily includes Nokia's luxury phone business Vertu,
spare parts, intellectual property royalty income, as well as common research
and development expenses. Other income and expenses includes major restructuring
programs related to the Devices & Services business as well as other unallocated
items.
It should be noted that the information provided herein is historical and
therefore does not indicate future performance.
FIRST QUARTER 2010, REPORTED, EUR million
---------------------------------------------------------------------------------------------------------------------
(unaudited)
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
| | | | Devices & | | | Nokia | | | |
| | Smart | Mobile | Services |Devices & | | Siemens |Corporate | | Nokia |
| | Devices | Phones | Other | Services | NAVTEQ | Networks | Common |Eliminations| Group |
|Â | 1-3/2010 |1-3/2010 | 1-3/2010 | 1-3/2010 | 1-3/2010 | 1-3/2010 | 1-3/2010 | 1-3/2010 |1-3/2010 |
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Net sales | 3 362| 3 194| 107| 6 663| 189| 2 718| -| -48| 9 522|
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Cost of sales| -2 211| -2 234| -62| -4 507| -29| -1 936| -| 28| -6 444|
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Gross profit | | | | | | | | | |
|1) | 1 151| 960| 45| 2 156| 160| 782| -| -20| 3 078|
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|% of net | | | | | | | | | |
|sales | 34.2| 30.1| 42.1| 32.4| 84.7| 28.8| | Â | 32.3|
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Operating | | | | | | | | | |
|expenses | -829| -340| -194| -1 363| -237| -1 015| -12| -| -2 627|
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Other income | | | | | | | | | |
|and expenses | 28| -| 10| 38| -| 7| -8| -| 37|
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Contribution | 350| 620| -139| Â | Â | Â | Â | Â | Â |
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|% of net | | | | | | | | | |
|sales | 10.4| 19.4| -129.9| Â | Â | Â | Â | Â | Â |
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|Operating | | | | | | | | | |
|profit 1) | | | Â | 831| -77| -226| -20| -20| 488|
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
|% of net | | | | | | | | | |
|sales | Â | Â | Â | 12.5| -40.7| -8.3| Â | Â | 5.1|
+-------------+----------+---------+------------+----------+----------+-----------+----------+------------+---------+
1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service
sold in combination with Nokia's GPSÂ enabled smartphones.
---------------------------------------------------------------------------------------------------------------------
SECOND QUARTER 2010, REPORTED, EUR million
---------------------------------------------------------------------------------------------------------------------
(unaudited)
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
| | | |Devices | | | | | | |
| | | | & | | | Nokia | | | |
| | Smart | Mobile |Services|Devices & | | Siemens |Corporate | | Nokia |
| | Devices | Phones | Other | Services | NAVTEQ | Networks | Common |Eliminations | Group |
|Â | 4-6/2010 | 4-6/2010 |4-6/2010| 4-6/2010 | 4-6/2010 | 4-6/2010 | 4-6/2010 | 4-6/2010 |4-6/2010|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Net sales | 3 503| 3 190| 106| 6 799| 252| 3 039| -| -87| 10 003|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Cost of sales | -2 374| -2 304| -69| -4 747| -47| -2 170| -| 32| -6 932|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Gross profit 1) | 1 129| 886| 37| 2 052| 205| 869| -| -55| 3 071|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|% of net sales | 32.2| 27.8| 34.9| 30.2| 81.3| 28.6| Â | Â | 30.7|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Operating | | | | | | | | | |
|expenses | -848| -374| -206| -1 428| -283| -1 034| -29| -| -2 774|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Other income and| | | | | | | | | |
|expenses | 2| 1| 16| 19| -3| -14| -4| -| -2|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Contribution | 283| 513| -153| Â | Â | Â | Â | Â | Â |
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|% of net sales | 8.1| 16.1| -144.3| Â | Â | Â | Â | Â | Â |
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|Operating profit| | | | | | | | | |
|1) | | | Â | 643| -81| -179| -33| -55| 295|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
|% of net sales | Â | Â | Â | 9.5| -32.1| -5.9| Â | Â | 2.9|
+----------------+----------+----------+--------+----------+----------+-----------+----------+-------------+--------+
1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service
sold in combination with Nokia's GPSÂ enabled smartphones.
---------------------------------------------------------------------------------------------------------------------
THIRD QUARTER 2010, REPORTED, EUR million
---------------------------------------------------------------------------------------------------------------------
(unaudited)
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
| | | |Devices &| | | Nokia | | | |
| | Smart | Mobile |Services |Devices & | | Siemens |Corporate | | Nokia |
| | Devices | Phones | Other | Services | NAVTEQ | Networks | Common |Eliminations | Group |
|Â | 7-9/2010 | 7-9/2010 |7-9/2010 | 7-9/2010 | 7-9/2010 | 7-9/2010 | 7-9/2010 | 7-9/2010 |7-9/2010|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Net sales | 3 612| 3 364| 197| 7 173| 252| 2 943| -| -98| 10 270|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Cost of sales | -2 509| -2 506| -77| -5 092| -39| -2 241| 1| 42| -7 329|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Gross profit 1)| 1 103| 858| 120| 2 081| 213| 702| 1| -56| 2 941|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|% of net sales | 30.5| 25.5| 60.9| 29.0| 84.5| 23.9| | Â | 28.6|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Operating | | | | | | | | | |
|expenses | -773| -382| -184| -1 339| -263| -966| -19| -| -2 587|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Other income | | | | | | | | | |
|and expenses | 5| 3| 57| 65| 2| -18| -| -| 49|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Contribution | 335| 479| -7| Â | Â | Â | Â | Â | Â |
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|% of net sales | 9.3| 14.2| -3.6| Â | Â | Â | Â | Â | Â |
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|Operating | | | | | | | | | |
|profit 1) | | | Â | 807| -48| -282| -18| -56| 403|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
|% of net sales | Â | Â | Â | 11.3| -19.0| -9.6| Â | Â | 3.9|
+---------------+----------+----------+---------+----------+----------+-----------+----------+-------------+--------+
1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service
sold in combination with Nokia's GPSÂ enabled smartphones.
---------------------------------------------------------------------------------------------------------------------
FOURTH QUARTER 2010, REPORTED, EUR million
---------------------------------------------------------------------------------------------------------------------
(unaudited)
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
| | | |Devices & | | | Nokia | | | |
| | Smart | Mobile | Services |Devices & | | Siemens |Corporate | | Nokia |
| | Devices | Phones | Other | Services | NAVTEQ | Networks | Common |Eliminations| Group |
|Â |10-12/2010|10-12/2010|10-12/2010|10-12/2010|10-12/2010|10-12/2010|10-12/2010| 10-12/2010 |10-12/2010|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Net sales | 4 396| 3 947| 156| 8 499| 309| 3 961| -| -118| 12 651|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Cost of sales | -3 111| -2 822| -86| -6 019| -38| -2 919| -| 52| -8 924|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Gross profit | | | | | | | | | |
|1) | 1 285| 1 125| 70| 2 480| 271| 1 042| -| -66| 3 727|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|% of net sales| 29.2| 28.5| 44.9| 29.2| 87.7| 26.3| Â | Â | 29.5|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Operating | | | | | | | | | |
|expenses | -882| -410| -218| -1 510| -288| -1 022| -47| -| -2 867|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Other income | | | | | | | | | |
|and expenses | 145| 1| -98| 48| -2| -19| 4| -7| 24|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Contribution | 548| 716| -246| Â | Â | Â | Â | Â | Â |
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|% of net sales| 12.5| 18.1| -157.7| Â | Â | Â | Â | Â | Â |
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Â |Â | | | Â | Â | Â | Â | Â | Â |
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|Operating | | | | | | | | | |
|profit 1) | | |Â | 1 018| -19| 1| -43| -73| 884|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
|% of net sales|Â |Â |Â | 12.0| -6.1| 0.0| Â | Â | 7.0|
+--------------+----------+----------+----------+----------+----------+----------+----------+------------+----------+
1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service
sold in combination with Nokia's GPSÂ enabled smartphones.
---------------------------------------------------------------------------------------------------------------------
FULL YEAR 2010, REPORTED, EUR million
---------------------------------------------------------------------------------------------------------------------
(unaudited)
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
| | | |Devices &| | | Nokia | | | |
| | Smart | Mobile |Services |Devices &| | Siemens |Corporate| | Nokia |
| | Devices | Phones | Other |Services | NAVTEQ |Networks | Common | Eliminations | Group |
|Â |1-12/2010|1-12/2010|1-12/2010|1-12/2010|1-12/2010|1-12/2010|1-12/2010| 1-12/2010 |1-12/2010 |
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Net sales | 14 873| 13 695| 566| 29 134| 1 002| 12 661| -| -351| 42 446|
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Cost of sales| -10 205| -9 866| -294| -20 365| -153| -9 266| 1| 154| -29 629|
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Gross profit | | | | | | | | | |
|1) | 4 668| 3 829| 272| 8 769| 849| 3 395| 1| -197| 12 817|
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|% of net | | | | | | | | | |
|sales | 31.4| 28.0| 48.1| 30.1| 84.7| 26.8| Â | Â | 30.2|
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Operating | | | | | | | | | |
|expenses | -3 332| -1 506| -802| -5 640| -1 071| -4 037| -107| -| -10 855|
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Other income | | | | | | | | | |
|and expenses | 180| 5| -15| 170| -3| -44| -8| -7| 108|
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Contribution | 1 516| 2 328| -545| Â | Â | Â | Â | Â | Â |
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|% of net | | | | | | | | | |
|sales | 10.2| 17.0| -96.3| Â | Â | Â | Â | Â | Â |
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|Operating | | | | | | | | | |
|profit 1) | | | Â | 3 299| -225| -686| -114| -204| 2 070|
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
|% of net | | | | | | | | | |
|sales | Â | Â | Â | 11.3| -22.5| -5.4| Â | Â | 4.9|
+-------------+---------+---------+---------+---------+---------+---------+---------+--------------------+----------+
1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service
sold in combination with Nokia's GPSÂ enabled smartphones.
---------------------------------------------------------------------------------------------------------------------
FIRST QUARTER 2011, REPORTED, EUR million
---------------------------------------------------------------------------------------------------------------------
(unaudited)
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
| | | | Devices & | | | | | | |
| | Smart | Mobile | Services | Devices & | |Nokia Siemens |Corporate| | Nokia |
| |Devices | Phones | Other | Services | NAVTEQ | Networks | Common |Eliminations| Group |
| Â |1-3/2011|1-3/2011| 1-3/2011 | 1-3/2011 |1-3/2011| 1-3/2011 |1-3/2011 | 1-3/2011 |1-3/2011 |
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
| Â | Â | | |Â |Â |Â |Â |Â |Â |
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Net sales | 3 528| 3 407| 152| 7 087| 232| 3 171| -| -91| 10 399|
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Cost of | | | | | | | | | |
|sales | -2 475| -2 457| -92| -5 024| -37| -2 324| -| 60| -7 325|
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Gross profit| | | | | | | | | |
|1) | 1 053| 950| 60| 2 063| 195| 847| -| -31| 3 074|
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|% of net | | | | | | | | | |
|sales | 29.8| 27.9| 39.5| 29.1| 84.1| 26.7| Â | Â | 29.6|
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Operating | | | | | | | | | |
|expenses | -835| -386| -167| -1 388| -258| -990| -22| -| -2 658|
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Other income| | | | | | | | | |
|and expenses| -| -2| 17| 15| 1| 1| 6| -| 23|
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Â | Â | | | Â | Â | Â | Â | Â | Â |
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Contribution| 218| 562| -90| Â | Â | Â | Â | Â | Â |
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|% of net | | | | | | | | | |
|sales | 6.2| 16.5| -59.2| Â | Â | Â | Â | Â | Â |
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Â | | | | Â | Â | Â | Â | Â | Â |
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|Operating | | | | | | | | | |
|profit 1) | | | Â | 690| -62| -142| -16| -31| 439|
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
|% of net | | | | | | | | | |
|sales | Â | Â | Â | 9.7| -26.7| -4.5| Â | Â | 4.2|
+------------+--------+--------+-------------+-------------+--------+--------------+---------+------------+---------+
1) Elimination of profits recognized in NAVTEQ that are deferred in Devices & Services related to Ovi Maps service
sold in combination with Nokia's GPSÂ enabled smartphones.
About Nokia
Nokia is committed to connecting people to what matters to them by combining
advanced mobile technology with personalized services. More than 1.3 billion
people connect to one another with a Nokia, from our most affordable voice-
optimized mobile phones to advanced Internet-connected smartphones sold in
virtually every market in the world. Through Ovi (www.ovi.com), people also
enjoy access to maps and navigation on mobile, a rapidly expanding applications
store, a growing catalog of digital music, free email and more. Nokia's NAVTEQ
is a leader in comprehensive digital mapping and navigation services, and Nokia
Siemens Networks is one of the leading providers of telecommunications
infrastructure hardware, software and professional services globally.
Media Enquiries:
Nokia
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com
Investor Relations Europe
Tel. +358 7180 34927
Investor Relations US
Tel. +1 914 368 0555
www.nokia.com
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(i) the releases contained herein are protected by copyright and
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originality of the information contained therein.
Source: NOKIA via Thomson Reuters ONE
[HUG#1531939]
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