Nokia’s Q2 2013 Results

Nokia’s latest results will be available shortly today, July 18, 2013 at approximately 1:00 PM (CET+1)at:

http://www.results.nokia.com/results/Nokia_results2013Q2e.pdf

The main report page is over at:

http://www.nokia.com/global/about-nokia/investors/financials/reports/results—reports/

This post will be updated as the results come in.

Available:

Second quarter 2013 highlights:
Nokia Group non-IFRS EPS in Q2 2013 was EUR 0.00; reported EPS was EUR -0.06.

• Nokia Group achieved underlying operating profitability for the fourth consecutive quarter, with a Q2 non-IFRS operating margin of 5.3%, driven by strong performance of Nokia Siemens Networks.
• Nokia Group ended Q2 with a strong balance sheet and solid cash position, with gross cash of EUR 9.5 billion  and net cash of EUR 4.1 billion.
• Nokia Siemens Networks’ contribution to Nokia Group gross and net cash was  EUR 2.5 billion and EUR 1.4 billion respectively.
• Nokia Siemens Networks achieved underlying profitability for the fifth consecutive quarter, with a Q2 non-IFRS  operating margin of 11.8%, reflecting record non-IFRS gross margin and continued progress relative to its strategy. This exceeded the earlier expectation for Nokia Siemens Networks non-IFRS operating margin to be approximately 5%, plus or minus four percentage points.
• Devices & Services achieved Q2 non-IFRS operating margin of negative 1.2%, which was consistent with the earlier expectation for approximately negative 2%, plus or minus four percentage points.
• HERE achieved Q2 non-IFRS operating margin of 3.4%. This exceeded the earlier expectation for a negative non-IFRS operating margin.
• Nokia Group net sales in Q2 2013 were EUR 5.7 billion, down 3% quarter-on-quarter
• Nokia Siemens Networks Q2 net sales decreased 1% quarter-on-quarter to EUR 2.8 billion, reflecting Nokia Siemens Networks’ focused strategy.
• Devices & Services Q2 net sales decreased 6% quarter-on-quarter to EUR 2.7 billion.
• Lumia Q2 volumes increased 32% quarter-on-quarter to 7.4 million units, reflecting strong demand from customers for a broadened Lumia product range. Mobile Phones Q2 volumes decreased 4% quarter-on-quarter to 53.7 million units, but demonstrated  some signs of recovery in the latter part of the quarter.
• HERE Q2 net sales increased 8% quarter-on-quarter to EUR 0.2 billion.

January-June 2013 highlights:
Nokia Group net sales in January-June 2013 were EUR 11.5 billion

• Nokia Group net sales for the first half 2013 decreased 22% year-on-year.
• Reported EPS for the first half 2013 was EUR -0.13, compared to EUR -0.63 in the first half 2012.

Commenting on the second quarter results, Stephen Elop, Nokia CEO, said:
“We’re pleased to report an underlying operating profit for the fourth consecutive quarter on a group level. We
benefited from another strong performance at Nokia Siemens Networks, which continued to deliver well against its
focused strategy. With our recent announcement to purchase Siemens’ 50% stake in Nokia Siemens Networks, we
believe we will create value for Nokia shareholders and look forward to strengthening Nokia Siemens Networks as
a more independent entity.
In Devices & Services, our Mobile Phones business unit started to demonstrate some signs of recovery in the latter
part of the second quarter following a difficult start to the year. Also, towards the end of the second quarter, we
started to ship the Asha 501, which brings a new design and user experience to the highly competitive sub-100
USD market. While we are very encouraged by the consumer response to our innovations in this price category, our
Mobile Phones business unit is planning to take actions to focus its product offering and improve product
competitiveness.
In our Smart Devices business unit, we continue to focus on delivering meaningful differentiation to consumers
around the world. We are very proud of the recent creations by our Lumia team, from the Lumia 520 – our most
affordable Windows Phone 8 product which has enjoyed a strong start in markets like China, France, India,
Thailand, the UK, the US and Vietnam – to the Lumia 1020, our star imaging product which we unveiled to the
world last week. Overall, Lumia volumes grew to 7.4 million in the second quarter, the highest for any quarter so INTERIM REPORT 2(44)
Nokia Corporation July 18, 2013 at 13:00 (CET +1)
far and showing increasing momentum for the ecosystem. During the third quarter, we expect that our new Lumia
products will drive a significant part of our Smart Devices revenue.”

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Cheers Janne for the tip

Tags: featured

Category: Nokia