Financials Nokia Oyj

Equities

NOKIA

FI0009000681

Communications & Networking

Market Closed - Nasdaq Helsinki Other stock markets 16:29:39 09/12/2024 GMT			After market 16:51:09
4.206 ^EUR	+2.57%		4.218	+0.27%

05:06pm	European Equities Traded in the US as American Depositary Rise in Monday Trading	MT
02:15pm	JPMorgan Upgrades Nokia to Overweight From Neutral, Raises Price Target to $6.35 From $4.35	MT

Projected Income Statement: Nokia Oyj

income-statement-evolution-chart NOKIA-OYJ

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	23,344	21,870	22,202	24,911	22,258	19,141	19,369	19,856
Change	-	-6.31%	1.52%	12.2%	-10.65%	-14%	1.19%	2.52%
EBITDA ¹	2,794	2,839	3,479	3,838	3,110	3,168	3,103	3,299
Change	-	1.61%	22.54%	10.32%	-18.97%	1.87%	-2.06%	6.31%
EBIT ¹	2,003	2,114	2,775	3,109	2,375	2,396	2,323	2,529
Change	-	5.54%	31.27%	12.04%	-23.61%	0.86%	-3.01%	8.83%
Interest Paid ¹	-337	-184	-176	-38	-137	-111	-66.75	-53
Earnings before Tax (EBT) ¹	156	834	1,926	2,184	1,499	1,924	1,718	2,043
Change	-	434.62%	130.94%	13.4%	-31.36%	28.37%	-10.71%	18.89%
Net income ¹	14	-2,431	1,623	4,250	665	1,121	1,333	1,561
Change	-	-	-	161.86%	-84.35%	68.61%	18.88%	17.14%
Announcement Date	06/02/20	04/02/21	03/02/22	26/01/23	25/01/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: Dicembre	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	6,903	4,914	5,093	5,294	6,569	5,076	5,313	5,399	6,414	5,348	5,873	6,241	7,449	5,859	5,710	4,982	5,707	4,667	4,466	4,326	5,682	4,421	4,609	4,648	5,738
Change	-	-28.81%	3.64%	3.95%	24.08%	-22.73%	4.67%	1.62%	18.8%	-16.62%	9.82%	6.27%	19.36%	-21.35%	-2.54%	-12.75%	14.55%	-18.22%	-4.31%	-3.13%	31.34%	-22.18%	4.25%	0.85%	23.45%
EBITDA ¹	1,228	299	607	765	1,270	822	858	808	1,086	757	896	840	1,345	656	811	604	1,040	760	613	615	1,137	496.9	632.2	703.9	1,198
Change	-	-75.65%	103.01%	26.03%	66.01%	-35.28%	4.38%	-5.83%	34.41%	-30.29%	18.36%	-6.25%	60.12%	-51.23%	23.63%	-25.52%	72.19%	-26.92%	-19.34%	0.33%	84.92%	-56.3%	27.23%	11.34%	70.18%
EBIT ¹	1,134	116	423	486	1,090	551	682	633	908	583	714	658	1,154	479	626	424	846	597	423	454	937.8	349.4	458.7	514.6	964.7
Change	-	-89.77%	264.66%	14.89%	124.28%	-49.45%	23.77%	-7.18%	43.44%	-35.79%	22.47%	-7.84%	75.38%	-58.49%	30.69%	-32.27%	99.53%	-29.43%	-29.15%	7.33%	106.56%	-62.74%	31.28%	12.18%	87.46%
Charge d'intérêts ¹	-46	-66	-27	-78	-13	-52	-39	-47	-38	-40	-27	29	1	-19	-54	-37	-32	-41	27	-29	-15	-25	-25	-13	-13
Earnings before Tax (EBT) ¹	809	-130	165	276	523	372	416	446	693	256	541	509	878	401	407	179	512	451	461	219	737.7	237	330	338	802
Change	-	-	-	67.27%	89.49%	-28.87%	11.83%	7.21%	55.38%	-63.06%	111.33%	-5.91%	72.5%	-54.33%	1.5%	-56.02%	186.03%	-11.91%	2.22%	-52.49%	236.83%	-67.87%	39.24%	2.42%	137.28%
Net income ¹	563	-117	80	193	-2,601	261	344	342	676	219	460	427	3,154	289	290	139	-43	438	-142	175	557.5	204.9	271.1	297.2	590
Change	-	-	-	141.25%	-	-	31.8%	-0.58%	97.66%	-67.6%	110.05%	-7.17%	638.64%	-90.84%	0.35%	-52.07%	-	-	-	-	218.6%	-63.25%	32.32%	9.63%	98.52%
Announcement Date	06/02/20	30/04/20	31/07/20	29/10/20	04/02/21	29/04/21	29/07/21	28/10/21	03/02/22	28/04/22	21/07/22	20/10/22	26/01/23	20/04/23	20/07/23	19/10/23	25/01/24	18/04/24	18/07/24	17/10/24	-	-	-	-	-

¹EUR in Million

Estimates

Forecast Balance Sheet: Nokia Oyj

Fiscal Period: Dicembre	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-1,730	-2,485	-3,942	-4,767	-4,323	-4,301	-4,616	-5,260
Change	-	-243.64%	-258.63%	-220.93%	-190.69%	-199.49%	-207.32%	-213.95%
Announcement Date	06/02/20	04/02/21	03/02/22	26/01/23	25/01/24	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Nokia Oyj

Fiscal Period: Dicembre	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	690	479	560	601	652	470	520.5	528.2
Change	-	-30.58%	16.91%	7.32%	8.49%	-27.91%	10.75%	1.47%
Free Cash Flow (FCF) ¹	-300	1,280	2,065	873	665	1,736	1,640	1,771
Change	-	-526.67%	61.33%	-57.72%	-23.83%	161.1%	-5.56%	7.99%
Announcement Date	06/02/20	04/02/21	03/02/22	26/01/23	25/01/24	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Nokia Oyj

Fiscal Period: Dicembre	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	11.97%	12.98%	15.67%	15.41%	13.97%	16.55%	16.02%	16.61%
EBIT Margin (%)	8.58%	9.67%	12.5%	12.48%	10.67%	12.52%	12%	12.73%
EBT Margin (%)	0.67%	3.81%	8.67%	8.77%	6.73%	10.05%	8.87%	10.29%
Net margin (%)	0.06%	-11.12%	7.31%	17.06%	2.99%	5.86%	6.88%	7.86%
FCF margin (%)	-1.29%	5.85%	9.3%	3.5%	2.99%	9.07%	8.47%	8.92%
FCF / Net Income (%)	-2,142.86%	-52.65%	127.23%	20.54%	100%	154.85%	123.02%	113.4%
Profitability
ROA	0.04%	3.86%	4.26%	10.24%	1.61%	2.59%	3.87%	4.25%
ROE	8%	10.45%	12.4%	12.78%	7.68%	8.74%	8.57%	8.11%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.96%	2.19%	2.52%	2.41%	2.93%	2.46%	2.69%	2.66%
CAPEX / EBITDA (%)	24.7%	16.87%	16.1%	15.66%	20.96%	14.84%	16.78%	16.01%
CAPEX / FCF (%)	-230%	37.42%	27.12%	68.84%	98.05%	27.07%	31.74%	29.83%
Items per share
Cash flow per share ¹	0.0693	0.3134	0.4618	0.26	0.2358	0.402	0.3551	0.4441
Change	-	352.11%	47.35%	-43.7%	-9.31%	70.5%	-11.68%	25.08%
Dividend per Share ¹	-	-	0.08	0.12	0.13	0.1361	0.1469	0.1625
Change	-	-	-	50%	8.33%	4.72%	7.9%	10.65%
Book Value Per Share ¹	2.73	2.24	3.08	3.82	3.72	3.82	3.955	4.16
Change	-	-17.95%	37.5%	24.03%	-2.62%	2.68%	3.54%	5.17%
EPS ¹	-	-0.43	0.29	0.75	0.12	0.1989	0.2389	0.2855
Change	-	-	-167.44%	158.62%	-84%	65.72%	20.12%	19.52%
Nbr of stocks (in thousands)	5,617,087	5,628,955	5,646,452	5,587,016	5,537,060	5,404,464	5,404,464	5,404,464
Announcement Date	06/02/20	04/02/21	03/02/22	26/01/23	25/01/24	-	-	-