Nokia Says Fiscal Year Operating Margin Topped Guidance on One-Offs
January 11 2022 - 3:14AM
Dow Jones News
By Dominic Chopping
Nokia Corp. said Tuesday that it expects its 2021 operating
margin to exceed guidance after getting a boost from one-offs in
the fourth quarter.
The Finnish telecommunications-equipment supplier said it
expects to report a full-year comparable operating margin of 12.4%
to 12.6%, above its previous guidance of 10% to 12%, after getting
a 150 basis point benefit from one-offs related to venture fund
investments, a one-off software contract in the second quarter, bad
debt provision reversals, and some other one-time gains.
Nokia said its underlying business in the fourth quarter
performed largely as expected, with full-year sales estimated at
around 22.2 billion euros ($25.1 billion), within its previous
guidance of EUR21.7 billion to EUR22.7 billion.
The company added that it is also introducing new comparable
operating margin guidance for the financial year 2022 of 11% to
13.5%.
"This new guidance considers estimated continued improvements in
the underlying business, supply constraints and cost inflation,
with the year-on-year progression also impacted by the significant
one-offs seen in 2021," it said.
Nokia will release its fourth quarter and full year 2021
financial results on Feb. 3, when it will also revisit its
longer-term outlook.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
January 11, 2022 02:59 ET (07:59 GMT)
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