Sony Pixel Power calrec Sony

Nokia expects to revise upwards its 2021 financial guidance

13/07/2021

Nokia expects to revise upwards its 2021 financial guidance

Nokia Corporation

Inside information

13 July 2021 at 9:00 EET

Nokia expects to revise upwards its 2021 financial guidance

Espoo, Finland - Nokia is today providing an update to its financial guidance for full year 2021. In the second quarter Nokia saw continued strength in the business, improving its expectations for the full year. Nokia now expects to revise upwards its prior outlook ranges for 2021. Nokia plans to provide full details on its second quarter and half-year financial performance and revised full year 2021 guidance on 29 July 2021.

The previous outlook for 2021 (reiterated on 29 April 2021) was:

Net sales, adjusted for currency fluctuations1 20.6bn to 21.8bn

Comparable operating margin 7 to 10%

Free cash flow Positive

Comparable ROIC 10 to 15%

1)Assuming continuation of 2020 year-end EUR/USD rate of 1.23.

We are progressing well with our three-phased plan to achieve sustainable, profitable growth and technology leadership laid out at our Capital Markets Day in March. Our first half performance has shown evidence of this in good cost control and also benefited from strength in a number of our end markets. We continue to expect some headwinds in the second half as we have previously highlighted but our performance in the first half provides a good foundation for the full year, said Pekka Lundmark, Nokia President and CEO.

The company will release its second quarter and half year 2021 financial results on Thursday 29 July 2021.

Nokia will conduct a conference call with analysts and investors to discuss its second quarter performance and business outlook on 29 July 2021 at 11:30am EET / 9:30am BST / 4:30am US EST.

About Nokia

At Nokia, we create technology that helps the world act together.

As a trusted partner for critical networks, we are committed to innovation and technology leadership across mobile, fixed and cloud networks. We create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

Adhering to the highest standards of integrity and security, we help build the capabilities needed for a more productive, sustainable and inclusive world.

Inquiries:

Nokia

Communications

Phone: +358 10 448 4900

Email: press.services@nokia.com

Katja Antila, Head of Media Relations

Nokia

Investor Relations

Phone: +358 40 803 4080

Email: investor.relations@nokia.com

Forward-looking statements

It should be noted that Nokia and its businesses are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokias current expectations and views of future developments and include statements regarding: A) expectations, plans or benefits related to our strategies, growth management and operational key performance indicators; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of that impact of COVID-19 on our businesses, our supply chain and our customers' businesses) and any future dividends including timing and qualitative and quantitative thresholds associated therewith; C) expectations and targets regarding financial performance, cash generation, results, the timing of receivables, operating expenses, taxes, currency exchange rates, hedging, cost savings, product cost reductions and competitiveness, as well as results of operations including targeted synergies, better commercial management and those results related to market share, prices, net sales, income and margins; D) expectations, plans or benefits related to changes in organizational and operational structure; E) expectations regarding competition within our market, market developments, general economic conditions and structural and legal change globally and in national and regional markets, such as China; F) our ability to integrate acquired businesses into our operations and achieve the targeted business plans and benefits, including targeted benefits, synergies, cost savings and efficiencies; G) expectations, plans or benefits related to any future collaboration or to business collaboration agreements or patent license agreements or arbitration awards, including income to be received under any collaboration or partnership, agreement or award; H) timing of the deliveries of our products and services, including our short term and longer term expectations around the rollout of 5G, investment requirements with such rollout, and our ability to capitalize on such rollout; I) expectations and targets regarding collaboration and partnering arrangements, joint ventures or the creation of joint ventures, and the related administrative, legal, regulatory and other conditions, as well as our expected customer reach; J) outcome of pending and threatened litigation, arbitration, disputes, regulatory proceedings or investigations by authorities; K) expectations regarding restructurings, investments, capital structure optimization efforts, uses of proceeds from transactions, acquisitions and divestments and our ability to achieve the financial and operational targets set in connection with any such restructurings, investments, capital structure optimization efforts, divestments and acquisitions, including our current cost savings program; L) expectations, plans or benefits related to future capital expenditures, reduction of support function costs, temporary incremental expenditures or other R&D expenditures to develop or rollout software and other new products, including 5G, ReefShark and increased digitalization; M) expectations regarding our customers future actions, including our customers' capital expenditure constraints and our ability to satisfy customer's needs and retain their busin
LINK: https://www.nokia.com/about-us/news/releases/2021/07/13/nokia-expects-...
See more stories from nokia

More from Nokia

22/06/2022

Nokia donates EUR 1,1 million to universities in Finland

Nokia donates EUR 1,1 million to universities in Finland Nokia donates EUR 1,1 million to universities in Finland Nokia donates four Finnish universities a...

21/06/2022

Nokia and Elisa achieve over 2 Gbps 5G uplink speeds on mmWave with Qualcomm solutions

Nokia and Elisa achieve over 2 Gbps 5G uplink speeds on mmWave with Qualcomm sol...

16/06/2022

Nokia, LS ELECTRIC sign Memorandum of Understanding to develop ICT solutions and new service models

Nokia, LS ELECTRIC sign Memorandum of Understanding to develop ICT solutions and...

14/06/2022

Nokia to help Wire 3 accelerate 10G broadband network build in Florida

Nokia to help Wire 3 accelerate 10G broadband network build in Florida Press Release Nokia to help Wire 3 accelerate 10G broadband network build in Florida ...

13/06/2022

Nokia and Innventure collaborate to commercialize Nokia Bell Labs' high-performance cooling technology

Nokia and Innventure collaborate to commercialize Nokia Bell Labs' high-perf...

13/06/2022

Nokia helps Metronet future-proof its fiber network for multi-gig residential and commercial services

Nokia helps Metronet future-proof its fiber network for multi-gig residential an...

13/06/2022

Nokia showcases first 100Gb/second fiber broadband technology in the US

Nokia showcases first 100Gb/second fiber broadband technology in the US Press Release Nokia showcases first 100Gb/second fiber broadband technology in the U...

13/06/2022

Nokia launches a network-in-a-box program for rural broadband builders

Nokia launches a network-in-a-box program for rural broadband builders Press Release Nokia launches a network-in-a-box program for rural broadband builders ...

07/06/2022

Nokia wins ten-year network expansion deal with Orange Polska

Nokia wins ten-year network expansion deal with Orange Polska Press Release Nokia wins ten-year network expansion deal with Orange Polska The deal will...

06/06/2022

Nokia 5G Standalone Core selected by LMT to deliver advanced 5G services in Latvia

Nokia 5G Standalone Core selected by LMT to deliver advanced 5G services in Latv...

06/06/2022

Nokia, DOCOMO and NTT bring 6G vision to life

Nokia, DOCOMO and NTT bring 6G vision to life Press Release Nokia, DOCOMO and NTT bring 6G vision to life Joint 6G collaboration agreement signed Target ...

03/06/2022

Nokia, NS Solutions to deploy 5G SA private wireless network at Nara Institute of Science and Technology to advance research capabilities

Nokia, NS Solutions to deploy 5G SA private wireless network at Nara Institute o...

31/05/2022

Nokia Corporation: Repurchase of own shares on 31.05.2022

Nokia Corporation: Repurchase of own shares on 31.05.2022 Nokia Corporation Stock Exchange Release 31 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

30/05/2022

Nokia launches cloud-native IMS Voice Core product to simplify network operations for communication service providers

Nokia launches cloud-native IMS Voice Core product to simplify network operation...

30/05/2022

Nokia strengthens partnership with Microsoft to enhance performance at the mission critical industrial edge

Nokia strengthens partnership with Microsoft to enhance performance at the missi...

30/05/2022

Nokia Corporation: Repurchase of own shares on 30.05.2022

Nokia Corporation: Repurchase of own shares on 30.05.2022 Nokia Corporation Stock Exchange Release 30 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

27/05/2022

Nokia Corporation: Repurchase of own shares on 27.05.2022

Nokia Corporation: Repurchase of own shares on 27.05.2022 Nokia Corporation Stock Exchange Release 27 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

26/05/2022

Nokia and Taiwan Mobile strengthen partnership with energy-efficient 5G coverage expansion deal

Nokia and Taiwan Mobile strengthen partnership with energy-efficient 5G coverage...

26/05/2022

Nokia and Mobile Industrial Robots (MiR) showcase real-time robot fleet management using private 5G wireless at LogiMat, Germany

Nokia and Mobile Industrial Robots (MiR) showcase real-time robot fleet manageme...

25/05/2022

Nokia and UScellular ink mid-band 5G network expansion deal

Nokia and UScellular ink mid-band 5G network expansion deal Multi-year 5G network expansion deal in C-Band and 3.45 GHz mid-band spectrum will provide additi...

25/05/2022

Correction: Changes in Nokia Corporations own shares

Correction: Changes in Nokia Corporations own shares Nokia Corporation Stock Exchange Release 25 May 2022 at 20:20 EEST Correction: Changes in Nokia Corpo...

25/05/2022

Nokia Corporation: Repurchase of own shares on 25.05.2022

Nokia Corporation: Repurchase of own shares on 25.05.2022 Nokia Corporation Stock Exchange Release 25 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

24/05/2022

Nokia announces shipment of 1.5 millionth Quillion-powered PON port for broadband fiber nodes

Nokia announces shipment of 1.5 millionth Quillion-powered PON port for broadban...

24/05/2022

Nokia Corporation: Repurchase of own shares on 24.05.2022

Nokia Corporation: Repurchase of own shares on 24.05.2022 Nokia Corporation Stock Exchange Release 24 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

23/05/2022

Nokia and MCCA announce new global survey to measure and promote equity, inclusion and diversity in the legal field

Nokia and MCCA announce new global survey to measure and promote equity, inclusi...

23/05/2022

T-Mobile and Nokia Collaborate on Building Flexible and Scalable 5G Networks

T-Mobile and Nokia Collaborate on Building Flexible and Scalable 5G Networks DALLAS, Texas and BELLEVUE, Wash. - May 23, 2022 - Today, Nokia (NYSE: NOK) and ...

23/05/2022

Nokia Corporation: Repurchase of own shares on 23.05.2022

Nokia Corporation: Repurchase of own shares on 23.05.2022 Nokia Corporation Stock Exchange Release 23 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

20/05/2022

Nokia Corporation: Repurchase of own shares on 20.05.2022

Nokia Corporation: Repurchase of own shares on 20.05.2022 Nokia Corporation Stock Exchange Release 20 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

19/05/2022

Nokia launches MX Boost for private wireless to optimize reliability and performance for the most demanding industry use cases

Nokia launches MX Boost for private wireless to optimize reliability and perform...

19/05/2022

Nokia expands industrial-grade private wireless solution with Wi-Fi to provide more connectivity options for industries

Nokia expands industrial-grade private wireless solution with Wi-Fi to provide m...

19/05/2022

Nokia Corporation: Repurchase of own shares on 19.05.2022

Nokia Corporation: Repurchase of own shares on 19.05.2022 Nokia Corporation Stock Exchange Release 19 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

18/05/2022

Nokia Corporation: Repurchase of own shares on 18.05.2022

Nokia Corporation: Repurchase of own shares on 18.05.2022 Nokia Corporation Stock Exchange Release 18 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

17/05/2022

Nokia Corporation: Repurchase of own shares on 17.05.2022

Nokia Corporation: Repurchase of own shares on 17.05.2022 Nokia Corporation Stock Exchange Release 17 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

16/05/2022

Nokia Corporation: Repurchase of own shares on 16.05.2022

Nokia Corporation: Repurchase of own shares on 16.05.2022 Nokia Corporation Stock Exchange Release 16 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

15/05/2022

Nokia and University of Technology Sydney target the perfect pint with world's first 5G connected microbrewery

Nokia and University of Technology Sydney target the perfect pint with world'...

13/05/2022

Nokia Corporation: Repurchase of own shares on 13.05.2022

Nokia Corporation: Repurchase of own shares on 13.05.2022 Nokia Corporation Stock Exchange Release 13 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

12/05/2022

Nokia and Contela collaborate on private wireless 5G network solutions for Korean public sector

Nokia and Contela collaborate on private wireless 5G network solutions for Korea...

12/05/2022

Nokia revamps Japan research facility to showcase end-to-end Local 5G portfolio and Lab-as-a-Service

Nokia revamps Japan research facility to showcase end-to-end Local 5G portfolio ...

12/05/2022

Nokia to deploy its Access DWDM solution to upgrade Vi's transport network to 5G

Nokia to deploy its Access DWDM solution to upgrade Vi's transport network t...

12/05/2022

Nokia Corporation: Repurchase of own shares on 12.05.2022

Nokia Corporation: Repurchase of own shares on 12.05.2022 Nokia Corporation Stock Exchange Release 12 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

11/05/2022

Nokia announces new SaaS services targeting network energy efficiency and home device management

Nokia announces new SaaS services targeting network energy efficiency and home d...

11/05/2022

Nokia enables stc to launch managed SD-WAN services for enterprises in Saudi

Nokia enables stc to launch managed SD-WAN services for enterprises in Saudi Press Release Nokia enables stc to launch managed SD-WAN services for enterpris...

11/05/2022

Nokia Corporation: Repurchase of own shares on 11.05.2022

Nokia Corporation: Repurchase of own shares on 11.05.2022 Nokia Corporation Stock Exchange Release 11 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

10/05/2022

Nokia Corporation: Repurchase of own shares on 10.05.2022

Nokia Corporation: Repurchase of own shares on 10.05.2022 Nokia Corporation Stock Exchange Release 10 May 2022 at 21:00 EEST Nokia Corporation: Repurchase...

09/05/2022

Nokia launches groundbreaking cybersecurity-focused testing lab in the U.S.

Nokia launches groundbreaking cybersecurity-focused testing lab in the U.S. Press Release Nokia launches groundbreaking cybersecurity-focused testing lab in...

09/05/2022

Nokia Corporation: Repurchase of own shares on 09.05.2022

Nokia Corporation: Repurchase of own shares on 09.05.2022 Nokia Corporation Stock Exchange Release 9 May 2022 at 21:00 EEST Nokia Corporation: Repurchase ...

06/05/2022

Chief People Officer, Stephanie Werner-Dietz, to leave Nokia

Chief People Officer, Stephanie Werner-Dietz, to leave Nokia Nokia Corporation Stock Exchange Release 6 May 2022 at 09:00 EEST Chief People Officer, Steph...

06/05/2022

Nokia wins coveted Red Dot and iF Design Awards

Nokia wins coveted Red Dot and iF Design Awards Press Release Nokia wins coveted Red Dot and iF Design Awards Nokia Design receives a total of 6 Red Dot Aw...

06/05/2022

Nokia Corporation: Repurchase of own shares on 06.05.2022

Nokia Corporation: Repurchase of own shares on 06.05.2022 Nokia Corporation Stock Exchange Release 6 May 2022 at 21:00 EEST Nokia Corporation: Repurchase ...