Press Release Nokia enhances TM's international optical network for hyperscaler connectivity demand Advanced optical backbone to enhance hyperconnectivity across data centers and support AI-readiness, in line with TM's strategic direction. Nokia's field-proven optical technology will strengthen TM's network capacity and performance, meeting growing traffic demand with reduced latency. TM to fulfil hyperscaler customers' demands and become a leading provider of high-speed and reliable optical network service ...

Press Release Nokia and illwerke vkw AG announce state-of-the-art optical transport network in Austria Leading Austrian energy service provider illwerke vkw AG offers telecom services to mobile network providers. Illwerke vkw AG evolving existing network to meet rapidly growing capacity demand. Nokia optical network deployed to major sites across state of Vorarlberg, providing 10G, 25G and 100G mobile backhaul and fronthaul transport services. 21 August 2024 Vorarlberg, Austria – Nokia has been selected by ...

Nokia Corporation (NOK) recently revealed that TIM Brasil, a prominent Brazilian telecommunication company, has opted to deploy Nokia's industry-leading 5G AirScale portfolio. This strategic move is part of TIM's plan to expand its 5G Radio Access Network coverage across Brazil and solidify its position as one of the leading 5G providers in the country. Access to fast and reliable connectivity has become the cornerstone of the modern digital-driven world. The growing proliferation of e-learning, remote work ...

Press release Bounteous x Accolite and Nokia sign agreement to boost network API use-case development leveraging 5G capabilities Bounteous x Accolite, headquartered in the US with offices in Europe, North America, and Asia, will utilize Nokia's Network as Code platform with developer portal, starting with its European entity. The two companies will initially focus on use cases in areas of health care, gaming, and utilities. 1 August 2024 Espoo, Finland – Bounteous x Accolite, a global digital transformation ...

Nokia Corporation Stock Exchange Release 29 July 2024 at 12:00 EET Correction to Nokia Oyj's stock exchange release regarding repurchase of own shares on 26 July 2024. In the English version of the release, total weighted average price per share was misreported. Below the corrected release. Trading venue (MIC Code) Number of shares Weighted average price / share, EUR* XHEL 1,385,661 3.53 CEUX 739,517 3.54 BATE - - AQEU - - TQEX - - Total 2,125,178 3.53 Correction: Nokia Corporation: Repurchase of own shares ...

Dublin, Ireland: eir, Ireland's leading telecommunications company, and Nokia today announced the extension of its IP collaboration to support the evolving needs and expectations of its customers with access to world-class technology and connectivity solutions. The agreement will see eir introduce the latest 400/800GE IP backbone for larger capacity to meet future traffic growth and Nokia's 7750 Service Router, powered by Nokia's in-house routing silicon, FP5, for greater flexibility, power efficiency and s ...

Nokia Corporation Stock Exchange Release 19 July 2024 at 16:00 EEST Nokia accelerates its share buybacks Espoo, Finland – Nokia Corporation ("Nokia" or the "Company") has on 18 March 2024 announced the first phase of its share buyback program and, in line with the announcement made on 18 July 2024, has today decided to accelerate its share buybacks by increasing the number of shares to be repurchased during the year 2024. The main terms of the ongoing phase of the share buyback program post-increase: The ag ...

Key Takeaways American depositary receipts (ADRs) of Nokia (NOK) dropped Thursday after the Finnish telecommunications company reported second-quarter results that included lower sales than analysts had expected and a surprise loss. Sales fell 18% year-over-year to EUR4.47 billion, with Chief Executive Officer (CEO) Pekka Lundmark noting that they were being impacted by "ongoing market weakness." Despite the worse-than-expected first- and second-quarter sales and lowered full-year sales projections for its ...

Financial Data and Key Metrics - Q2 2024 sales declined by 18% YoY, primarily driven by a significant drop in India, which accounted for three-quarters of the decline [25][31][135] - Gross margin increased by 450 basis points, largely due to improvements in Mobile Networks, including €150 million in accelerated revenue recognition from the AT&T contract resolution [31] - Operating margin stood at 9.5%, down 190 basis points YoY, impacted by the decline in top-line revenue despite the AT&T benefit [32] - Free cash flow was strong at approximately €400 million in Q2, contributing to a net cash balance of €5.5 billion [20][44] - The company is tracking towards the midpoint or slightly below the midpoint of its comparable operating profit guidance of €2.3 billion to €2.9 billion for 2024 [28] Business Line Performance - **Network Infrastructure**: Sales declined by 11% YoY, with sequential improvement from Q1. Order intake trends are improving, supporting expectations of significant net sales growth in H2 2024 [33][26] - **Mobile Networks**: Sales decline was mainly driven by India, reflecting the peak of 5G deployments in Q2 2023. However, sequential growth was seen across all regions, and the AT&T contract resolution provided a €150 million revenue boost [35][36] - **Cloud and Network Services**: Sales declined by 16% YoY, impacted by the challenging environment and the disposal of the device management and service management platform business, which had a 3 percentage point negative impact [40][41] - **Nokia Technologies**: Solid quarter with a run rate of €1.3 billion, supported by smartphone renewals and a new agreement with a video streaming platform [42] Market Performance - **India**: Significant decline in sales, with Q2 2023 marking the peak of 5G deployments. Full-year revenue in India is expected to be between €1.5 billion to €2 billion, including contributions from fixed wireless contracts [35][139] - **North America**: Return to growth, supported by the AT&T benefit and improvements in Network Infrastructure [43] - **Other Regions**: Softness across most markets, with no significant growth drivers noted [43] Strategy and Industry Competition - The company is focusing on cost savings, having already achieved €400 million in run-rate savings out of a targeted €800 million to €1.2 billion by 2026 [27][65] - The acquisition of Infinera is expected to enhance the Network Infrastructure business, particularly in optical networks, with €200 million in synergies targeted by 2027 [49][50] - The divestment of the Submarine Networks business to the French State is part of the strategy to streamline operations and focus on core areas [24][51] - The company is making progress in Open RAN and Cloud RAN projects, with recent wins including Vodafone in Italy and stc in Saudi Arabia [58][59] Management Commentary on Operating Environment and Future Outlook - The industry is stabilizing, with expectations of significant net sales growth acceleration in H2 2024, though the recovery is slower than previously anticipated [4][26] - The company remains on track to achieve its 2024 outlook, supported by cost-saving measures and improving order intake trends [4][68] - Management expects a strong Q4, driven by sales volume and order backlog, though continued momentum in Q3 is required [7][8] Other Important Information - The company has signed 16 ecosystem agreements, including with Orange, Telefonica, and Turkcell, as well as partnerships with Infobip and Google, which are expected to drive demand for network APIs [3] - The board has accelerated the share buyback program, aiming to complete €600 million in buybacks by the end of 2024, a year ahead of schedule [69][110] Q&A Session Summary Question: Network Infrastructure EBIT Margins - The company expects Q3 margins to balance weaker Mobile Networks performance with improvements in Network Infrastructure. Q4 margins are expected to be strong, supported by order backlog and delivery schedules [74][75] Question: Strong H2 Recovery - The strong recovery in H2 is supported by existing order backlog, market recovery trends, and expected delivery times. The company anticipates continued order momentum in Q3 [77][78][79] Question: Cost Savings Impact - €400 million in cost savings have been implemented, with one-third impacting cost of sales and two-thirds impacting OpEx. The company is confident in achieving its cost-saving targets [81][82] Question: Cloud and Network Services Growth - CNS seasonality is expected to be similar to previous years, with a strong Q4. Core network traction in Europe and the decline of 3G core networks are key drivers [85][86][89] Question: AT&T Contract Impact - The €150 million from AT&T is an acceleration of revenue recognition, not a fee. Revenue from AT&T is expected to remain stable in 2024 but drop by half in 2025 [90][91][92] Question: German Government Actions on Chinese Vendors - The company is monitoring the situation in Germany regarding restrictions on Chinese vendors but lacks clarity on the impact on RAN opportunities [99][100] Question: Enterprise and Webscale Diversification - The company is making progress in diversifying into enterprise and webscale markets, with non-CSP business now accounting for 11.6% of group net sales [96][103] Question: Portfolio Management and Acquisitions - The company remains prudent on acquisitions, focusing on strong industrial logic and synergies. The divestment of ASN was driven by strategic considerations and favorable pricing [124][126] Question: Cash Flow and Working Capital - Strong cash flow in H1 was driven by normalization of working capital and India payments. The €150 million AT&T impact will lead to working capital inflows in subsequent quarters [128][129][132] Question: Revenue Decline and Right-Sizing - The revenue decline is primarily market-driven, with three-quarters of the decline coming from India. The right-sizing of the organization has not negatively impacted revenue [135][137] Question: Operating Model and Margins - The company is focusing on shifting more value to software and cloud-based models to improve margins. Large-scale CSP projects remain a margin drag, but enterprise and defense sectors offer better margin potential [150][151][155] Question: IPR and Tech Revenue - The company signed a video streaming deal in Q2 and is exploring new growth areas, with a run rate of €150 million in new growth areas as of December [158]

Nokia Corporation Half Year Report 18 July 2024 at 08:00 EEST Nokia Corporation Report for Q2 and Half Year 2024 Full year outlook reiterated in challenging environment Q2 net sales declined 18% y-o-y in constant currency (-18% reported) primarily due to strong year-ago quarter in India. Submarine Networks treated as discontinued operation. Positively, order intake trends continued to improve, particularly in Network Infrastructure. Comparable gross margin in Q2 increased by 450bps y-o-y to 44.7% (reported ...