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, 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 andsolutions 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.
Currency rate March 31, 2000, 1 EUR = 0.966 USD, 1 EUR = 5.94573 FIM
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HELSINKI, Finland--(BUSINESS WIRE)--April 27, 2000-- 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 Organization 211 64 + 230 415 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 Organization - 70 - 23 - 175
Common Group Expenses - 48 - 51 - 98 Profit before tax and minority interests 1 333 758 + 76 3 845
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 |
