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Nokia Reports Strong Financial Results for January - April Period
June 16, 1995
Results of all business groups continue to improve HELSINKI, Finland
Nokia, one of the leading international telecommunications and equipment suppliers, reported today a significant improvement in net sales and profits for January through April, 1995.
Taking into account changes in the structure of the Group and exchange fluctuations, net sales increased by 48% to FIM 11,416 million from FIM 8,565 for the same period of 1994. Operating profit for the four months increased 109% and totalled FIM 1,788 million, compared to FIM 854 million; pre-tax profit increased to FIM 1,802 million from FIM 969 million. Net profits for January-April 1995 were FIM 1,803 million, compared to FIM 752 million in the corresponding period of 1994.
According to Nokia President and CEO, Jorma Ollila, "Nokia Group results for the four first months of 1995 provide ample reason for satisfaction. The Group´s strong growth continued while profitability improved as the operating profit margin grew from 10.0% to 15.7%."
"This positive trend in profit development is projected to continue throughout the rest of 1995," said Mr Ollila, "although not necessarily as strongly as during the first tertial due to increasingly competitive market conditions. "
During the January-April 1995 period, 70% of Nokia net sales came from the telecommunications sector. Both Nokia Telecommunications and Nokia Mobile Phones continued their strong growth, with net sales increases of 43% and 75%, respectively. Nokia Consumer and Industrial Electronics´ first tertial net sales remained at last year´s level, while Nokia Cables and Machinery´s net sales were up 15%.
Separately Jorma Ollila announced creation of Nokia General Communications Products, consolidating Nokia Consumer and Industrial Electronics and Nokia Cables and Machinery. "The new business group clarifies the structure of the Nokia Group as a focused telecommunications company, emphasizing interactive home electronics."
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