Nokia / Miscellaneous
25.01.2012 14:06
Dissemination of a UK Regulatory Announcement, transmitted by
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The issuer is solely responsible for the content of this announcement.
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Nokia Corporation
Stock exchange release
January 25, 2012 at 15:00 (CET +1)
Espoo, Finland - Nokia today provided historical results for its Devices &
Services and Location & Commerce businesses, recasted for comparability
purposes according to the new reporting format that became effective on October
1, 2011, as a result of the formation of the Location & Commerce business which
combines NAVTEQ and Nokia's social location services operations from Devices &
Services. The recast also reflects certain reallocations regroupings within
Devices & Services to conform with the current reporting structure.
The historical results set forth below for each quarter and the full year of
2010 as well as the first, second and third quarter of 2011 are reported
results recasted (on an unaudited basis) for comparability purposes according
to Nokia's four reportable segments effective from October 1, 2011:
- Smart Devices (within Devices & Services)
- Mobile Phones (within Devices & Services)
- Location & Commerce
- Nokia Siemens Networks
The key financial performance measures provided for these segments include net
sales, gross margin as well as an additional measure of profit. For Smart
Devices and Mobile Phones, we present these segments' profit contribution,
which consists of revenues less these segments' own costs as well as their
directly assignable and allocated costs. For Location & Commerce and Nokia
Siemens Networks, we present operating profit.
The most significant amounts transferred relate to operating expenses which
were previously in Devices & Services Other - specifically, those relating to
social location services operations - to Location & Commerce. In order to
consistently reflect where the economic value of location services is created,
the recast also impacted Cost of Sales by reportable segment. Amounts
previously in Devices & Services Other Cost of Sales and Smart Devices Cost of
Sales were transferred to Location & Commerce Cost of Sales. As a consequence
of the higher value add performed in Location & Commerce, the recasted numbers
also reflect a higher internal transfer price, which impacted Location &
Commerce Net Sales positively and Smart Devices Cost of Sales negatively. The
internal transfer price represents revenue Net Sales to Location & Commerce and
Cost of Sales to Smart Devices. Location & Commerce will be responsible for
developing the services going forward whereas the services will continue to be
delivered to customers and consumers by Devices & Services in combination with
our devices. In order to consistently reflect deferral of services revenue over
the service period, the recast also impacted Location & Commerce revenue and
corporate Eliminations.
It should be noted that the information provided herein is historical and
therefore does not indicate future performance.
FIRST QUARTER 2010, REPORTED, EUR million
(unaudited)
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Smart Mobile Devices Device Locati Nokia Corpor Elimi Nokia
Device Phone & s on Siemen ate natin Group
s 1- s Service & & s Commo ns 1- 1-3/20
3/201 1-3/2 s Servi Comme Networ n 3/2010 10
0 01 other ce r ks 1-3/2
0 1- s 1- ce 1- 1-3/20 010
3/2010 3/2010 3/2010 10
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Net 3,363 3,194 107 6,664 193 2,718 - -53 9,522
sales
Cost of -2,243 -2,233 -55 -4,531 -30 -1,936 - 53 -6,444
sales
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Gross 1,120 961 52 2,133 163 782 - - 3,078
profit
% of 33.3 30.1 48.6 32.0 84.5 28.8 32.3
net
sales
Operati -846 -341 -107 -1,294 -306 -1,015 -12 - -2,627
ng
expense
s
Other 28 - 9 37 1 7 -8 - 37
income
and
expens
es
------------------------------------------------------------------------
Contrib 302 620 -46
ution
% of 9.0 19.4 -43.0
net
sales
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=------- -----------------------------------------------
Operati 876 -142 -226 -20 - 488
ng
profit
-------------------------
% of 13.1 -73.6 -8.3 5.1
net
sales
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SECOND QUARTER 2010, REPORTED, EUR million
(unaudited)
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-
Smart Mobile Devices Device Locati Nokia Corpor Elimin Nokia
Device Phones & s on Siemen ate ations Group
s 4- 4- Service & & s Common 4- 4-6/20
6/2010 6/2010 s other Servi Comme Networ 4- 6/2010 10
4- ces rce 4- ks 6/2010
6/2010 4-6/20 6/2010 4-6/20
10 10
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Net 3,503 3,190 105 6,798 208 3,039 - -42 10,003
sales
Cost of -2,389 -2,304 -60 -4,753 -51 -2,170 - 42 -6,932
sales
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Gross 1,114 886 45 2,045 157 869 - - 3,071
profit
% of 31.8 27.8 42.9 30.1 75.5 28.6 30.7
net
sales
Operati -862 -374 -115 -1,351 -360 -1,034 -29 - -2,774
ng
expens
es
Other 2 1 16 19 -3 -14 -4 - -2
income
and
expens
es
------------------------------------------------------------------------
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Contrib 254 513 -54
ution
% of 7.3 16.1 -51.4
net
sales
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Operati 713 -206 -179 -33 - 295
ng
profit
% of 10.5 -99.0 -5.9 2.9
net
sales
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THIRD QUARTER 2010, REPORTED, EUR million
(unaudited)
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-
Smart Mobile Device Device Locati Nokia Corpor Elimin Nokia
Device Phones s & s on Siemen ate ations Group
s 7- 7- Servic & & s Common 7- 7-
9/2010 9/2010 es Servi Comme Networ 7- 9/2010 9/2010
other ces rc ks 9/2010
7- 7- e 7- 7-9/20
9/2010 9/2010 9/2010 10
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Net 3,612 3,364 197 7,173 203 2,943 - -49 10,270
sales
Cost of -2,522 -2,506 -68 -5,096 -42 -2,241 1 49 -7,329
sales
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Gross 1,090 858 129 2,077 161 702 1 - 2,941
profit
% of net 30.2 25.5 65.5 29.0 79.3 23.9 28.6
sales
Operatin -785 -383 -105 -1,273 -329 -966 -19 - -2,587
g
expense
s
Other 5 3 57 65 1 -18 1 - 49
income
and
expenses
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Contrib 310 478 81
ution
% of net 8.6 14.2 41.1
sales
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Operati 869 -167 -282 -17 - 403
ng
profit
% of net 12.1 -82.3 -9.6 3.9
sales
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FOURTH QUARTER 2010, REPORTED, EUR million
(unaudited)
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-
Smart Mobile Device Devices Locatio Nokia Corpor Elimin Nokia
Device Phones s & & n & Siemen ate ations Group
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