Leadership Transition - Nokia announced a leadership transition with Justin Hotard appointed as the new President and CEO, succeeding Pekka Lundmark, effective April 1, 2025 [1][5] - Pekka Lundmark has led Nokia since 2020 and will step down on March 31, 2025, continuing as an advisor to Hotard until the end of the year [5][8] Justin Hotard's Background - Justin Hotard brings over 25 years of experience in global technology companies, currently leading the Data Center & AI Group at Intel [2] - His previous roles include leadership positions at Hewlett Packard Enterprise and NCR Corporation, indicating a strong background in technology and innovation [2][13] Strategic Vision - Sari Baldauf, Chair of Nokia's Board, expressed confidence in Hotard's ability to drive growth in critical areas such as AI and data centers, which are essential for Nokia's future [3] - Hotard emphasized the importance of networks in powering society and businesses, and his commitment to continuing Nokia's transformation for growth and value creation [4] Contributions of Pekka Lundmark - Under Lundmark's leadership, Nokia re-established its technology leadership in 5G radio networks and improved profitability in Network Infrastructure [6][7] - Lundmark's tenure included building a strong position in cloud-native core networks and refreshing the company's brand and culture [7]

Core Insights - Nokia will modernize Vietnam Air Traffic Management Corporation's (VATM) communication network by replacing the legacy Synchronous Digital Hierarchy (SDH) transport system with IP/MPLS technology to enhance safety and reliability in Vietnam's air traffic management [1][6] - The upgraded transport network will support mission-critical applications and comply with International Civil Aviation Organization standards, becoming operational in the second quarter of 2025 [2][3] Company and Industry Summary - The new network will provide advanced capabilities such as analytics, operational simplification, and improved performance, enhancing overall air traffic management efficiency and safety [3][6] - VATM will benefit from robust security features and the ability to evolve against quantum threats with Nokia's Quantum-Safe Network (QSN)-ready technology [6] - The initiative is expected to significantly improve the safety and reliability of air traffic networks in Vietnam, addressing the rapidly growing air traffic demands [1][4]

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Nokia's earnings exceeded expectations despite a slight revenue miss.Nokia (NOK 6.42%), a leading telecommunications and network infrastructure provider, announced its fourth-quarter 2024 results on Jan. 30. Earnings per share (EPS) for the quarter came in at 0.18 euros, which surpassed analyst forecasts of 0.14 euros by a notable margin. However, revenue fell slightly short of expectations, reaching 5.983 billion euros against an expected 6.006 billion euros. The quarter as a whole presented a robust perfo ...

Nokia's stock surged after its Q4 earnings report.Shares of wireless industry veteran Nokia (NOK 6.19%) had a great day on Thursday. Following a robust earnings release early in the morning, the Finnish company's stock jumped as much as 9.5%. It had cooled off somewhat to a 7.3% gain by 1 p.m. ET.A mixed bag with a positive outlookThe average analyst expected fourth-quarter earnings near 0.14 euros per diluted share (approximately $0.15) on revenue in the neighborhood of 6.2 billion euros (around $6.46 bill ...

Financial Data and Key Metrics Changes - The company reported a net sales growth of 9% in Q4 2024, with a gross margin increase of 250 basis points to 47.2% and an operating margin of 19.1%, the highest since 2015 [10][12][16] - Free cash flow for the year was EUR2 billion, with a year-end net cash balance of EUR4.9 billion after returning EUR1.4 billion to shareholders [13][29] Business Line Data and Key Metrics Changes - Network Infrastructure grew by 17% in Q4, with IP networks growing 24% [11][17] - Mobile Networks saw a 2% decline in net sales, but trends stabilized with double-digit growth in North America [18][19] - Cloud and Network Services grew by 7%, despite a 4 percentage point headwind from a prior disposal [11][20] - Nokia Technologies experienced an impressive 85% growth in net sales in Q4, with a run rate of EUR1.3 billion to EUR1.4 billion [23][24] Market Data and Key Metrics Changes - North America and India were the biggest contributors to net sales growth, with strong demand from telecom operators in North America [25][26] - The competitive environment remains challenging in Latin America, while Europe showed resilient market performance mainly due to Nokia Technologies [26] Company Strategy and Development Direction - The company plans to accelerate investments in its IP networks business, targeting an additional EUR1 billion in net sales by 2028 through a EUR100 million annual operating expense increase [41][99] - The acquisition of Infinera is expected to strengthen Nokia's position in optical networking and data center markets [34][72] - The company aims to diversify its business and accelerate growth outside traditional service provider markets, with a focus on enterprise and defense sectors [37][110] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improved visibility for 2025, with a growing order backlog and robust CapEx commentary from customers [64] - The company expects strong growth in Network Infrastructure and stable sales in Mobile Networks, despite a headwind from AT&T [51][65] - Management highlighted the importance of private wireless and defense sectors as key growth areas moving forward [110][112] Other Important Information - The company returned EUR1.4 billion to shareholders in 2024, with EUR710 million through dividends and EUR680 million via buybacks [30][31] - A dividend authorization of EUR0.14 per share is proposed for the financial year 2024, an increase from EUR0.13 the previous year [31] Q&A Session Summary Question: Guidance on gross margin and visibility for 2025 - Management indicated improved visibility for 2025 compared to the previous year, with a growing order backlog and optimistic growth opportunities in enterprise markets [64][66] Question: Trends with hyperscalers and data centers - Management sees significant growth opportunities in the data center market, with good deal traction and plans to strengthen capabilities through the Infinera acquisition [71][72] Question: Growth trajectory in Network Infrastructure - Management expects strong growth across all segments of Network Infrastructure, particularly in optical, but refrained from providing specific figures [86][87] Question: Data center growth plans and operating expenses - Management confirmed plans to grow operating expenses by EUR100 million to achieve an additional EUR1 billion in sales by 2028, focusing on both R&D and go-to-market investments [99][100] Question: Mobile Networks business turnaround - Management acknowledged the need to drive top-line growth in Mobile Networks, emphasizing the importance of private wireless and defense sectors for future growth [108][110] Question: Opportunities in Nokia Technologies - Management highlighted growth opportunities in new areas such as automotive and multimedia, with ongoing investments in R&D [90][115]

Earnings Call Overview - Nokia held its Q4 2024 earnings conference call on January 30, 2025, with key participants including President and CEO Pekka Lundmark and CFO Marco Wiren [1][2] - The call included forward-looking statements regarding future business, transactions, and financial performance, with actual results subject to risks and uncertainties [3] - Growth rates and margins discussed during the call were based on constant currency and comparable reporting, with detailed financial results available in the Q4 report on the company's website [4] Call Agenda - Pekka Lundmark will present key messages for the quarter, followed by Marco Wiren discussing financial performance [5] - Pekka Lundmark will also highlight specific achievements or notable developments from the quarter [5]

Q4 2024 Financial results 30 January 2025 1 © 2025 Nokia Disclaimer It should be noted that Nokia and its business are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia's current expectations and views of future developments and include statements preceded by "believe", "expect", "expectations", "commit", "envisage", "anticipate", "foresee", "see", "target", "estimate", "design ...

Company Performance - Nokia's stock has been underperforming and largely overlooked by investors due to a disappointing decade of stagnation in revenue, despite the broader technology sector experiencing significant growth [1] Industry Context - The technology sector has seen a golden era of growth, but Nokia has failed to capitalize on technological advancements, leading to its revenue stagnation [1] Analyst Perspective - The author, a senior data analyst, focuses on identifying growth opportunities in technology-related sectors and manages a tech-focused portfolio that has consistently outperformed the market [1]

Press Release StarHub and Nokia partner on network APIs to drive 5G and 4G application development in enterprise verticals Working closely with developers, the two companies are targeting new applications for enterprises in banking, finance, ports, online streaming, and the public sector.StarHub’s 5G and 4G networks will connect to Nokia’s Network as Code platform with developer portal to give developers a seamless pathway for creating new applications. 23 January 2025 Espoo, Finland — StarHub, one of Sing ...