- Nokia Corp NOK reported a fourth-quarter FY22 net sales growth of 16% year-on-year (11% in constant currency) to €7.45 billion.
- Network Infrastructure sales grew 14% Y/Y in CC. Cloud and Network Services sales increased by 5% Y/Y in CC, while Nokia Tech rose 82% Y/Y as a long-term licensee exercised an option.
- Mobile Networks sales grew by 3% Y/Y in CC with a meaningful shift in regional mix.
- Also Read: Samsung, Nokia Ink New Multi-Year 5G Patent Deal
- Margins: Gross margin expanded by 330 bps to 42.8%. Comparable gross margin increased by 340 bps to 43.5%, driven by the Nokia Technologies option exercise.
- Operating margin increased by 30 bps to 11.8%, and the comparable operating margin rose by 130 bps to 15.5%.
- EPS was €0.56, and comparable EPS was €0.16.
- Nokia held €4.8 billion in cash and equivalents and generated €0.4 billion in free cash flow.
- Dividend: The board proposed a dividend of €0.12 per share for FY22 (€0.08 per share for FY21).
- Buyback: Nokia's second €300 million phase of the share buyback program started in January 2023, and it will end at the latest by Dec. 21, 2023.
- The first phase of the share buyback program, with a maximum aggregate purchase price of €300 million, started in February 2022 and ended in November 2022.
- FY23 Outlook: Nokia pronounced a net sales guidance of €24.9 billion - €26.5 billion (2% - 8% growth in constant currency).
- Nokia expects a comparable operating margin of 11.5% - 14.0%.
- Price Action: NOK shares closed higher by 1.76% at $4.63 on Wednesday.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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