- Pro forma pre-tax profit was EUR 1 068 million.
- Pro forma operating margin for Nokia was 15.2%, Nokia Networks 9.3% and Nokia Mobile Phones 19.0%.
- Pro forma earnings per share (diluted) were EUR 0.16 compared with EUR 0.19 a year ago.
- Non-cash pro forma adjustments for this quarter totaled EUR 787 million including a one-time charge of EUR 714 million to increase reserves for Telsim and Dolphin, resulting in reported net profit of EUR 186 million and reported EPS (diluted) of EUR 0.04 in the third quarter.
PRO FORMA
(excludes goodwill amortization and non-recurring items)
Change
EUR million 3Q/2001 3Q/2000 (%) 1-3Q 2001 1-3Q 2000 FY 2000
Net sales 7 050 7 575 -7 22 403 21 092 30 376
Nokia Networks 1 659 1 926 -14 5 577 5 353 7 714
Nokia Mobile Phones 5 269 5 456 -3 16 448 15 178 21 887
Nokia Ventures 140 209 -33 443 613 854
Organization
Operating profit 1 071 1 353 -21 3 648 4 133 5 861
Nokia Networks 155 357 -57 819 993 1 400
Nokia Mobile Phones 1 002 1 069 -6 3 169 3 453 4 897
Nokia Ventures -72 -60 -20 -267 -203 -307
Organization
Common Group -14 -13 -8 -73 -110 -129
Expenses
Profit before tax and 1 068 1 366 -22 3 719 4 175 5 947
minority interests
Net profit 760 923 -18 2 636 2 817 4 027
EPS, EUR
Basic 0.16 0.20 -20 0.56 0.60 0.86
Diluted 0.16 0.19 -16 0.55 0.59 0.84
Jorma Ollila, Nokia Chairman and CEO, said: "Nokia, as a flexible, lean and focused organization has done more than just weather the storm of the past several months. We succeeded in sustaining solid profitability and high cumulative operating cash flow of EUR 3.9 billion for the first nine months in an intensely competitive and volatile environment.
"While the market environment has had an inevitable impact on Nokia's topline growth, we have continued to translate our core strengths of strong brand, excellence in execution and winning products into profitable results. In addition, we have not compromised on investments essential to our future business success. Nokia intends to remain at the forefront in providing useful and exciting ways for people to enrich their lives as well as new business opportunities for the wireless industry as a whole."
NOKIA
Helsinki, October 19, 2001
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
- Nokia will report 4Q 2001 results on January 24, 2002 and plans a mid-quarter update on December 11, 2001.
- Results announcements for 1Q, 2Q and 3Q, 2002 are planned for April 18, July 18 and October 17, respectively.
- The Annual General Meeting is expected to be held on March 21, 2002.
(A full-length version of this release has been published on the Nokia website at http://www.nokia.com/investor/2001/3Q/index.html)