Nokia Corporation
Stock Exchange Release
July 24, 2017 at 9:00 (CET 1)
Nokia provides recast comparative segment results for 2016 and Q1 2017 reflecting the new financial reporting structure
Espoo, Finland - Nokia today provided in advance of its next results announcement recast comparative segment financial information on a quarterly and annual basis for 2016 and for Q1 2017, reflecting the creation of the Global Services business group and its effect on Nokias financial reporting and organizational structure.
As announced earlier, Nokia will publish its financial report for the second quarter and half year 2017 on July 27, 2017 at approximately 8 a.m. Finnish time (CET 1).
Changes in reporting structure, effective from April 1, 2017
On March 17, 2017, Nokia announced changes in its organizational structure designed to accelerate the execution of its strategy, including strengthening Nokias ability to deliver strong financial performance, drive growth in services, meet changing customer demands in mobile networks, achieve cost savings and ongoing transformation goals, and enable strategic innovation across Nokias Networks business. These organizational changes included the separation of Nokias former Mobile Networks business group into two distinct organizations: one focused on products and solutions, called Mobile Networks, and the other on services, called Global Services.
As a result of these changes, Nokia has changed its financial reporting structure for its Networks business. As of the second quarter 2017, Nokias Networks business is comprised of three reportable segments and five business groups.
Ultra Broadband Networks, comprised of the Mobile Networks and Fixed Networks business groups.
The Mobile Networks business group is comprised of the products and solutions that resided within the previous Mobile Networks business group. As a result of the organization change, services no longer reside under Mobile Networks. The Mobile Networks business group provides radio networks, converged core networks and advanced mobile networks solutions.
The Fixed Networks business group provides broadband access, digital home, access management solutions and Fixed Networks services.
Global Services, comprised of the Global Services business group.
The Global Services business group is comprised of the services that resided within the previous Mobile Networks business group, including company-wide managed services. Global Services does not include the services of Fixed Networks, IP/Optical Networks and Applications & Analytics, which continue to reside within the respective business groups. The Global Services business group provides network planning and optimization, network implementation, system integration, company-wide managed services and care.
IP Networks and Applications, comprised of the IP/Optical Networks and Applications & Analytics business groups.
The IP/Optical Networks business group provides IP routing, optics and IP/Optical Networks services.
The Applications & Analytics business group provides intelligent software and services that help service providers build strong digital businesses including business support systems, operational support systems, service delivery platforms, network management, emerging businesses, as well as the software and services offerings from the Comptel acquisition.
Recast comparative segment financial information for 2016 and Q1 2017
To provide a basis for comparison, the following tables present a recasting of Nokias segment financial information on an unaudited basis for all four quarters of 2016 separately, as well as for the full year 2016 and Q1 2017.
The tables are also available in Excel format at http://nokia.com/financials.
Q117 Ultra Broad-
band Net-
works
1 Glo-
bal Servi-
ces IP Net-
works and Appli-
ca-
tions 2 Nokias Net-
works busi-
ness Total 3 Nokia Tech-
no-
logies Group Com-
mon and Other Eli-
mi-
na-
tions Non-IFRS total Non-IFRS exclu-
sions 4 Nokia Total
EUR
million
Net
sales 2 236 1 361 1 304 4 902 247 254 (15) 5 388 (11) 5 378
Cost of
sales (1 105) (1 118) (744) (2 967) (13) (227) 15 (3 192) (61) (3 252)
Gross
profit 1 131 243 560 1 935 234 27 0 2 196 (71) 2 125
% of
net sales 50.6% 17.9% 42.9% 39.5% 94.7% 10.6% 40.8% 39.5%
Research
and deve-
lopment
expenses (583) (23) (338) (944) (61) (76) 0 (1 080) (184) (1 265)
% of
net sales 26% 2% 26% 19% 25% 30% 20% 24%
Selling,
general
and admi-
nistra-
tive
expenses (300) (164) (203) (667) (58) (56) 0 (781) (138) (919)
% of
net sales 13% 12% 16% 14% 23% 22% 14% 17%
Other
income
and
expenses (3) (2) 4 0 0 6 0 6 (74) (69)
Opera-
ting
profit
(loss) 245 55 23 324 116 (99) 0 341 (468) (127)
% of
net sales 11.0% 4.0% 1.8% 6.6% 47.0% (39.0)% 6.3% (2.4)%
1 Mobile Networks net sales of EUR 1 735 million, Fixed Networks net sales of EUR 501 million.
2 IP Routing net sales of EUR 621 million, Optical Networks net sales of EUR 324 million and Applications & Analytics net sales of EUR 359 million.
3 Includes Total Services net sales of EUR 1 909 million which consists of all of the services sales of Nokias Networks business, including Global Services of EUR 1 361 million and the services of Fixed Networks, IP/Optical Networks and Applications & Analytics.
4 Non-IFRS results exclude costs related to the Alcatel-Lucent transaction and related integration, goodwill impairment charges, intangible asset amortization and purchase price related items, restructuring and associated charges, and certain other items that may not be indicative of Nokias underlying business performance.
Full
Year
2016 Ultra Broad-
band Net-
works 1 Glo-
bal Ser-
vi-
ces IP Net-
works and Appli-
ca-
tions
2 Nokias Net-
works busi-
ness Total
3 Nokia Tech-
no-
log
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