- Pro forma pre-tax operating profit was EUR 1 166 million
- Pro forma operating margin for Nokia was 15.5%, Nokia Networks 15.8% and Nokia Mobile Phones 17.9%
- Pro forma earnings per share (diluted) were EUR 0.17 (0.21), on a reported basis EPS (diluted) were EUR 0.12 (0.20)
PRO FORMA (excl. goodwill amortization)
Change Full year
EUR million 2Q/2001 2Q/2000 (%) 1H/2001 1H/2000 2000
Net sales 7 346 6 980 +5 15 353 13 517 30 376
Nokia Networks 1 896 1 925 -2 3 918 3 427 7 714
Nokia Mobile Phones 5 349 4 883 +10 11 179 9 722 21 887
Nokia Ventures 134 193 -31 303 404 854
Organization
Operating profit 1 137 1 445 -21 2 577 2 780 5 861
Nokia Networks 300 357 -16 664 637 1 400
Nokia Mobile Phones 960 1 222 -21 2 167 2 384 4 897
Nokia Ventures -92 -85 -194 -144 -307
Organization
Common Group -31 -49 -60 -97 -129
Expenses
Profit before tax and 1 166 1 457 -20 2 651 2 809 5 947
minority interests
Net profit 830 984 -16 1 876 1 894 4 027
EPS, EUR
Basic 0.18 0.21 -14 0.40 0.41 0.86
Diluted 0.17 0.21 -19 0.39 0.40 0.84
Jorma Ollila, Nokia Chairman and CEO, said "Backed by our ability to manage working capital and control costs, we were able to retain our leading market position while sustaining good profitability and positive cash flow. This kind of resourcefulness is a product of the long-term commitment from all parts of our organization to improve efficiency and flexibility.
"We believe firmly in the long-term opportunities of the mobile communications industry. With market growth expected to pick up again next year, we are in a unique position to build on our strengths. I am confident that our solid financial base, proven excellence in execution, focussed R&D and strong brand will continue to translate very well into profitable future growth."
Closing rate, 1 EUR = 0.855 USD
For more information:
Lauri Kivinen, Corporate Communications, tel. +358 7180 34495
Ulla James, Investor Relations, tel. +1 972 894 4880
Antti Räikkönen, Investor Relations, tel. +358 7180 34290
(A full-length version of this release has been published on the Nokia website at www.nokia.com)