STRONG PROFITABILITY MARKS NOKIA´S THIRD QUARTER
October 30, 1997
Nokia today reports its third quarter results showing strong profitability and continued sales growth. Compared to the same period in 1996, Nokia´s July-September net sales grew by 27% to FIM 12 363 million. At the same time operating profit grew by 89% to FIM 2 254 million.
Million FIM 3Q/97 3Q/96 1-9/97 1-9/96 1996
Net sales 12 363 9 773 36 755 26 652 39 321
Operating profit 2 254 1 192 5 624 2 529 4 266
Operating profit % 18.2 12.2 15.3 9.5 10.8
Profit before tax
and minority
interests 2 205 1 101 5 536 2 228 3 898
Net profit 1 836 776 4 241 1 618 3 263
Earnings per share
(FIM) from
continuing
operations 5.56 2.74 14.05 5.70 10.73
Operating profit (IAS, International Accounting Standards) for the third quarter was FIM 2 254 million (FIM 1 192 million in 1996), 18.2% of net sales (12.2% in 1996), reflecting the continued improvement in the operating profit of all business groups.
Net interest and financial expenses for the July-September period were FIM 56 million (FIM 123 million in 1996). Profit before tax and minority interests totaled FIM 2 205 million (FIM 1 101 million in 1996). Net profit totaled FIM 1 836 million (FIM 776 million in 1996).
Commenting on the results, Nokia President and CEO Jorma Ollila stated, "We are extremely pleased to have achieved another record quarter with excellent profitability and continued growth. Our industry-first solutions bringing added value to our customers have firmly established our reputation as an innovative leader and we intend to continue to build upon this position."
"We will continue to invest in product development and manufacturing capacity in response to growing customer demand. For the first nine months our infrastructure order inflow was 67% higher than a year ago. We will also introduce a number of new, leading-edge digital terminals within the next two weeks."
Currency rate September 30, 1997, 1 FIM = 0.187 USD
Headquartered in Finland, Nokia is a leader in digital technologies including mobile phones, cellular and fixed telecommunications networks, wireless data solutions and multimedia terminals. With sales in approximately 130 countries, net sales totaled FIM 39.3 billion ($8.5 billion) in 1996. Nokia employs more than 36,000 people in 45 countries. Nokia's shares are listed in Helsinki, New York, London, Stockholm, Frankfurt and Paris.
For further information, please contact:
Mr. Lauri Kivinen, Senior Vice President, Corporate Communications, Nokia
tel. +358 9 1807 495
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