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Nokia posts strong network result

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Nokia posts strong network result

February 11
13:58 2016

Nokia-HQFinland’s Nokia has today reported better than expected profits for its mainstay telecom network equipment business. But the company also warned that roll-outs for new mobile networks would start to slow this year in its most vital market China.

Nokia’s network gear business, which accounts for more than 90% of its stand-alone sales, reported fourth-quarter operating profit margin of 14.6%. This compared with 14% a year earlier and 13.8% in a Reuters poll of analysts. Net sales for the Nokia group decreased 3% in constant currency terms to €3.609 billion.

Nokia last month started to combine its operations with Alcatel-Lucent, and this week said it holds 91% of Alcatel shares following a second round of its €15.6 billion all-stock offer.

Separately, Alcatel-Lucent said in a statement that its fourth-quarter adjusted operating profit grew to €560m from €284m a year ago, helped by stronger sales at the end of the year, notably in software.

Revenue over the period rose 13% to €4.16 billion.

Catch-up patent payments from Samsung Electronics helped Nokia’s total operating profit in the quarter grow 46% from a year ago to €734m, roughly in line with market consensus.

Nokia proposed an annual dividend of €0.16 per share and a special dividend of €0.10 per share, compared with analysts’ average expectation of €0.19e.

The company said it would issue its full-year outlook for the combined networks business in conjunction with its first quarter results.

The acquisition is aimed at helping Nokia compete with Sweden’s Ericsson and China’s Huawei in the network gear market where limited growth and tough competition are pressuring prices.

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