25th Jan 2012 12:06
Nokia / Miscellaneous 25.01.2012 14:06 Dissemination of a UK Regulatory Announcement, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.--------------------------------------------------------------------------- Nokia Corporation Stock exchange release January 25, 2012 at 15:00 (CET +1) Espoo, Finland - Nokia today provided historical results for its Devices &Services and Location & Commerce businesses, recasted for comparabilitypurposes according to the new reporting format that became effective on October1, 2011, as a result of the formation of the Location & Commerce business whichcombines NAVTEQ and Nokia's social location services operations from Devices &Services. The recast also reflects certain reallocations regroupings withinDevices & Services to conform with the current reporting structure. The historical results set forth below for each quarter and the full year of2010 as well as the first, second and third quarter of 2011 are reportedresults recasted (on an unaudited basis) for comparability purposes accordingto Nokia's four reportable segments effective from October 1, 2011: - Smart Devices (within Devices & Services) - Mobile Phones (within Devices & Services) - Location & Commerce - Nokia Siemens Networks The key financial performance measures provided for these segments include netsales, gross margin as well as an additional measure of profit. For SmartDevices and Mobile Phones, we present these segments' profit contribution,which consists of revenues less these segments' own costs as well as theirdirectly assignable and allocated costs. For Location & Commerce and NokiaSiemens Networks, we present operating profit. The most significant amounts transferred relate to operating expenses whichwere previously in Devices & Services Other - specifically, those relating tosocial location services operations - to Location & Commerce. In order toconsistently reflect where the economic value of location services is created,the recast also impacted Cost of Sales by reportable segment. Amountspreviously in Devices & Services Other Cost of Sales and Smart Devices Cost ofSales were transferred to Location & Commerce Cost of Sales. As a consequenceof the higher value add performed in Location & Commerce, the recasted numbersalso reflect a higher internal transfer price, which impacted Location &Commerce Net Sales positively and Smart Devices Cost of Sales negatively. Theinternal transfer price represents revenue Net Sales to Location & Commerce andCost of Sales to Smart Devices. Location & Commerce will be responsible fordeveloping the services going forward whereas the services will continue to bedelivered to customers and consumers by Devices & Services in combination withour devices. In order to consistently reflect deferral of services revenue overthe service period, the recast also impacted Location & Commerce revenue andcorporate Eliminations. It should be noted that the information provided herein is historical andtherefore does not indicate future performance. FIRST QUARTER 2010, REPORTED, EUR million (unaudited) --------------------------------------------------------------------------------- Smart Mobile Devices Device Locati Nokia Corpor Elimi Nokia Device Phone & s on Siemen ate natin Group s 1- s Service & & s Commo ns 1- 1-3/20 3/201 1-3/2 s Servi Comme Networ n 3/2010 10 0 01 other ce r ks 1-3/2 0 1- s 1- ce 1- 1-3/20 010 3/2010 3/2010 3/2010 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------------Net 3,363 3,194 107 6,664 193 2,718 - -53 9,522 sales Cost of -2,243 -2,233 -55 -4,531 -30 -1,936 - 53 -6,444 sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Gross 1,120 961 52 2,133 163 782 - - 3,078 profit % of 33.3 30.1 48.6 32.0 84.5 28.8 32.3 net sales Operati -846 -341 -107 -1,294 -306 -1,015 -12 - -2,627ng expense s Other 28 - 9 37 1 7 -8 - 37 income and expens es ------------------------------------------------------------------------Contrib 302 620 -46 ution % of 9.0 19.4 -43.0 net sales ---------------------------------------------------------------------------------------- -----------------------------------------------Operati 876 -142 -226 -20 - 488ng profit ------------------------- % of 13.1 -73.6 -8.3 5.1 net sales --------------------------------------------------------- SECOND QUARTER 2010, REPORTED, EUR million (unaudited) --------------------------------------------------------------------------------- Smart Mobile Devices Device Locati Nokia Corpor Elimin Nokia Device Phones & s on Siemen ate ations Group s 4- 4- Service & & s Common 4- 4-6/20 6/2010 6/2010 s other Servi Comme Networ 4- 6/2010 10 4- ces rce 4- ks 6/2010 6/2010 4-6/20 6/2010 4-6/20 10 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------------Net 3,503 3,190 105 6,798 208 3,039 - -42 10,003 sales Cost of -2,389 -2,304 -60 -4,753 -51 -2,170 - 42 -6,932sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Gross 1,114 886 45 2,045 157 869 - - 3,071profit % of 31.8 27.8 42.9 30.1 75.5 28.6 30.7net sales Operati -862 -374 -115 -1,351 -360 -1,034 -29 - -2,774ng expens es Other 2 1 16 19 -3 -14 -4 - -2income and expens es ------------------------------------------------------------------------ ------------------------------------------------------------------------Contrib 254 513 -54 ution % of 7.3 16.1 -51.4 net sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Operati 713 -206 -179 -33 - 295ng profit % of 10.5 -99.0 -5.9 2.9net sales -------------------------------------------------------------------------------- THIRD QUARTER 2010, REPORTED, EUR million (unaudited) --------------------------------------------------------------------------------- Smart Mobile Device Device Locati Nokia Corpor Elimin Nokia Device Phones s & s on Siemen ate ations Group s 7- 7- Servic & & s Common 7- 7- 9/2010 9/2010 es Servi Comme Networ 7- 9/2010 9/2010 other ces rc ks 9/2010 7- 7- e 7- 7-9/20 9/2010 9/2010 9/2010 10 ----------------------------------------------------------------------------------------------------------------------------------------------------------------Net 3,612 3,364 197 7,173 203 2,943 - -49 10,270sales Cost of -2,522 -2,506 -68 -5,096 -42 -2,241 1 49 -7,329sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Gross 1,090 858 129 2,077 161 702 1 - 2,941profit % of net 30.2 25.5 65.5 29.0 79.3 23.9 28.6sales Operatin -785 -383 -105 -1,273 -329 -966 -19 - -2,587g expense s Other 5 3 57 65 1 -18 1 - 49income and expenses ----------------------------------------------------------------------- -----------------------------------------------------------------------Contrib 310 478 81 ution % of net 8.6 14.2 41.1 sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Operati 869 -167 -282 -17 - 403ng profit % of net 12.1 -82.3 -9.6 3.9 sales -------------------------------------------------------------------------------- FOURTH QUARTER 2010, REPORTED, EUR million (unaudited) --------------------------------------------------------------------------------- Smart Mobile Device Devices Locatio Nokia Corpor Elimin Nokia Device Phones s & & n & Siemen ate ations Group s 10-12/ Servic Service Commerc s Common 10- 10- 10- 2010 es s e Networ 10- 12/201 12/201 12/201 other 10-12/ 10-12/ ks 12/201 0 0 0 10- 2010 2010 10-12/ 0 12/201 2010 0 ----------------------------------------------------------------------------------------------------------------------------------------------------------------Net 4,396 3,948 155 8,499 265 3,961 - -74 12,651sales Cost -3,133 -2,823 -76 -6,032 -46 -2,919 -1 74 -8,924of sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Gross 1,263 1,125 79 2,467 219 1,042 -1 - 3,727profit % of 28.7 28.5 51.0 29.0 82.6 26.3 29.5net sales Oper -899 -410 -125 -1,434 -365 -1,022 -46 - -2,867ating expe nses Other income and expens 146 1 -98 49 -2 -19 4 -8 24es ------------------------------------------------------------------------- -------------------------------------------------------------------------Contr 510 716 -144 ibutio n % of 11.6 18.1 -92.9 net sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Oper 1,082 -148 1 -43 -8 884ating profi t % of 12.7 -55.8 0.0 7.0net sales -------------------------------------------------------------------------------- FULL YEAR 2010, REPORTED, EUR million (unaudited) ---------------------------------------------------------------------------------- Smart Mobile Device Devices Locati Nokia Corpor Elimin Nokia Devices Phones s & on Siemen ate atio Group 1- 1- & Servic & s Common ns 1- 12/2010 12/201 Servic es Commer Networ 1- 1-12/ 12/2010 0 es 1- ce 1- ks 12/201 2 other 12/2010 12/201 1- 0 010 1- 0 12/201 12/201 0 0 --------------------------------------------------------------------------------- --------------------------------------------------------------------------------- Net 14,874 13,696 564 29,134 869 12,661 - -218 42,446 sales Cost -10,287 -9,866 -259 -20,412 -169 -9,266 - 218 -29,629 of sales --------------------------------------------------------------------------------- --------------------------------------------------------------------------------- Gross 4,587 3,830 305 8,722 700 3,395 - - 12,817 profit % of 30.8 28.0 54.1 29.9 80.6 26.8 30.2 net sales Operat -3,392 -1,508 -452 -5,352 -1,360 -4,037 -106 - -10,855 ing expens es Other 181 5 -16 170 -3 -44 -7 -8 108 income and expen ses -------------------------------------------------------------------------- -------------------------------------------------------------------------- Contri 1,376 2,327 -163 b ution % of 9.3 17.0 -28.9 net sales --------------------------------------------------------------------------------- --------------------------------------------------------------------------------- Operat 3,540 -663 -686 -113 -8 2,070 ing profit % of 12.2 -76.3 -5.4 4.9 net sales --------------------------------------------------------------------------------- FIRST QUARTER 2011, REPORTED, EUR million (unaudited) --------------------------------------------------------------------------------- Smart Mobile Device Device Locatio Nokia Corpor Elim Nokia Device Phones s & s n Siemen ate inatio Group s 1- 1- Servic & & s Common ns 1- 3/2011 3/2011 es Servi Commerc Networ 1- 1-3/2 3/2011 other ces e ks 3/2011 011 1- 1-3/20 1-3/20 1-3/20 3/2011 11 11 11 ----------------------------------------------------------------------------------------------------------------------------------------------------------------Net 3,528 3,407 152 7,087 232 3,171 - -91 10,399sales Cost of -2,508 -2,456 -84 -5,048 -44 -2,324 - 91 -7,325sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Gross 1,020 951 68 2,039 188 847 - - 3,074profit % of 28.9 27.9 44.7 28.8 81.0 26.7 29.6 net sales Operati -834 -387 -104 -1,325 -321 -990 -22 - -2,658ng expense s Other - -2 17 15 1 1 6 - 23income and expens e s ------------------------------------------------------------------------ ------------------------------------------------------------------------Contrib 186 562 -19 ution % of 5.3 16.5 -12.5 net sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Operati 729 -132 -142 -16 - 439ng profit % of 10.3 -56.9 -4.5 4.2 net sales -------------------------------------------------------------------------------- SECOND QUARTER 2011, REPORTED, EUR million (unaudited) --------------------------------------------------------------------------------- Smart Mobile Device Device Locati Nokia Corpor Elimin Nokia Device Phones s & s on Siemen at ations Group s 4- 4-6/20 Servic & & s e 4- 4- 6/2011 11 es Servi Comme Networ Commo 6/2011 6/2011 other ces rc ks n 4- 4- e 4-6/20 4-6/20 6/2011 6/2011 4-6/2 11 11 011 ----------------------------------------------------------------------------------------------------------------------------------------------------------------Net 2,351 2,568 548 5,467 271 3,642 - -105 9,275sales Cost of -1,811 -1,933 -56 -3,800 -50 -2,698 - 105 -6,443sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Gross 540 635 492 1,667 221 944 - - 2,832profit % of net 23.0 24.7 89.8 30.5 81.5 25.9 30.5sales Operatin -752 -420 -95 -1,267 -325 -1,056 -51 - -2,699g expenses Other -4 -1 -611 -616 - 1 -5 - -620income and expense s ----------------------------------------------------------------------- -----------------------------------------------------------------------Contribu -216 214 -214 tion % of net -9.2 8.3 -39.1 sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Operatin -216 -104 -111 -56 - -487g profit % of net -4.0 -38.4 -3.0 -5.3 sales -------------------------------------------------------------------------------- THIRD QUARTER 2011, REPORTED, EUR million (unaudited) --------------------------------------------------------------------------------- Smart Mobile Device Device Locati Nokia Corpor Elimin Nokia Device Phones s & s on Siemen ate ations Group s 7- Servic & & s Common 7- 7- 7-9/2 9/2011 es Servi Comme Networ 7- 9/2011 9/2011 011 other ces rc ks 9/2011 7- 7- e 7- 7-9/20 9/2011 9/2011 9/2011 11 ----------------------------------------------------------------------------------------------------------------------------------------------------------------Net 2,194 2,915 283 5,392 282 3,413 - -107 8,980sales Cost of -1,739 -2,226 -43 -4,008 -52 -2,518 - 107 -6,471sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Gross 455 689 240 1,384 230 895 - - 2,509profit % of net 20.7 23.6 84.8 25.7 81.6 26.2 27.9sales Operatin -656 -404 -67 -1,127 -314 -1,035 -37 -2,513g expense s Other 11 10 -110 -89 -1 26 -3 -67income and expense s ----------------------------------------------------------------------- -----------------------------------------------------------------------Contrib -190 295 63 ution % of net -8.7 10.1 22.3 sales ----------------------------------------------------------------------------------------------------------------------------------------------------------------Operatin 168 -85 -114 -40 - -71g profit % of net 3.1 -30.1 -3.3 -0.8sales -------------------------------------------------------------------------------- About Nokia Nokia is a global leader in mobile communications whose products have become anintegral part of the lives of people around the world. Every day, more than 1.3billion people use their Nokia to capture and share experiences, accessinformation, find their way or simply to speak to one another. Nokia'stechnological and design innovations have made its brand one of the mostrecognized in the world. For more information, visithttp://www.nokia.com/about-nokia Media Enquiries: Nokia Communications Tel. +358 7180 34900 Email: [email protected] Investor Relations Europe Tel. +358 7180 34927 Investor Relations US Tel. +1 914 368 0555 www.nokia.com Click on, or paste the following link into your web browser, to view theassociated documents https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=375565 News Source: NASDAQ OMX 25.01.2012 DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: EnglishCompany: Nokia FinlandPhone: Fax: E-mail: Internet: ISIN: FI0009000681Category Code: MSCLSE Ticker: 0HAFSequence Number: 970Time of Receipt: Jan 25, 2012 14:05:50 End of Announcement DGAP News-Service ---------------------------------------------------------------------------UK-Regulatory-announcement transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.
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