1:th Q 2000: "...outstanding growth and profitability"
--------------------------------------------------
NOKIA PRESS RELEASE
April 27, 2000
Nokia starts millennium with outstanding growth and profitability
Nokia has started the new millennium with continued strong operating
results. Net sales growth of 69% to EUR 6 537 million, compared to
the first quarter of 1999, was fueled by strong market demand and
Nokia's highly competitive product range. Operating profit was EUR
1 316 million, an increase of 71% compared to the same period in
1999. Operating margin was 20.1%, up from 19.8% a year ago.
Jorma Ollila, Nokia Chairman and CEO, said: "I am very pleased with
the outstanding progress that has continued in all our operations
during the first quarter of 2000. In a highly competitive and fast-
moving environment we have continued to achieve industry-leading
growth and profitability, and increased market share in many areas. We
will continue to keep the interests of our customers and partners at
the forefront and endeavor to provide them with technologies and
solutions that help them retain a competitive edge. The whole of our
personnel deserves special thanks for their extraordinary
achievements."
"Based on current market conditions and our globally strong
position, we are confident we can achieve full-year revenue growth
at, or higher than, the earlier stated 30 - 40% range, combined with
continued strong profitability", said Ollila.
EUR million 1Q/2000 1Q/1999 Change% 1999
Net sales 6 537 3 870 + 69 19 772
Nokia Networks 1 502 1 108 + 36 5 673
Nokia Mobile Phones 4 839 2 577 + 88 13 182
Nokia Ventures 211 64 + 230 415
Organization
Operating profit 1 316 768 + 71 3 908
Nokia Networks 273 226 + 21 1 082
Nokia Mobile Phones 1 161 616 + 88 3 099
Nokia Ventures - 70 - 23 - 175
Organization
Common Group Expenses - 48 - 51 - 98
Profit before tax and 1 333 758 + 76 3 845
minority interests
Net profit 891 505 + 76 2 577
EPS, EUR
Basic, split-adjusted 0.19 0.11 + 73 0.56
Diluted, split-adjusted 0.19 0.11 + 73 0.54
NOKIA IN JANUARY - MARCH 2000
(International Accounting Standards, IAS, comparisons given to the
first quarter of 1999)
Nokia's net sales increased by 69% and totaled EUR 6 537 million
(EUR 3 870 million). Sales of Nokia Networks increased by 36% to EUR
1 502 million (EUR 1 108 million) and sales of Nokia Mobile Phones
increased by 88% to EUR 4 839 million (EUR 2 577 million). Sales of
Nokia Ventures Organization increased by 230% and totaled EUR 211
million (EUR 64 million).
Sales growth was strong in all regions. Europe accounted for 53% of
net sales, Asia-Pacific for 23% and the Americas for 24%. The five
largest markets were the U.S., China, Germany, the UK and Italy.
Nokia Networks' sales grew fastest in the Asia-Pacific region,
whereas the strongest sales growth for Nokia Mobile Phones took
place in the Americas.
Operating profit increased by 71% to EUR 1 316 million (EUR 768
million), representing an operating margin of 20.1% (19.8%).
Operating profit in Nokia Networks increased by 21% to EUR 273
million (EUR 226 million), representing an operating margin of 18.2%
(20.4%). Operating profit in Nokia Mobile Phones increased by 88% to
EUR 1 161 million (EUR 616 million), representing a continued strong
operating margin of 24.0% (23.9%). Nokia Ventures Organization
reported an operating loss of EUR 70 million (EUR 23 million).
Common Group Expenses, which incorporates Nokia Head Office and
Nokia Research Center, totaled EUR 48 million (EUR 51 million).
Financial income totaled EUR 20 million (financial expense
EUR 8 million). Profit before tax and minority interests was
EUR 1 333 million (EUR 758 million). Net profit totaled EUR
891 million (EUR 505 million).
Earnings per share (adjusted for the share split as of April 10,
2000) increased to EUR 0.19 (basic) and to EUR 0.19 (diluted)
compared to EUR 0.11 (basic) and EUR 0.11 (diluted).
At March 31, 2000, Nokia's net debt-to-equity ratio (gearing) was
-42% (-41% at the end of 1999). Capital expenditures amounted to EUR
311 million (EUR 179 million).
Continued at:
kauppalehti.fi
Source: KAUPPALEHTI ONLINE 2000-04-27
Joar |
