logo
  

Nokia Updates FY21 Forecast, Sees Margin Growth In FY22; Stock Up

Shares of Nokia Corp. (NOK) were gaining around 3 percent in the morning trading in Helsinki after the Finnish communications company updated its fiscal 2021 forecast for comparable operating margin and net sales. The company also sees higher margin in fiscal 2022.

In its trading update, Nokia said it expects to exceed 2021 financial guidance. Nokia now estimates net sales of approximately 22.2 billion euros, within its previous guidance of 21.7 billion euros to 22.7 billion euros. Comparable operating margin is now expected to be 12.4 percent to 12.6 percent above its previous guidance of 10 percent to 12 percent.

In the fourth quarter, Nokia said its underlying business performed largely as expected. However, other operating income was higher than expected including further benefits from venture fund investments, leading to a stronger comparable operating margin exceeding the 2021 guidance.

For fiscal 2022, Nokia sees comparable operating margin guidance of 11 percent to 13.5 percent. The new guidance considers estimated continued improvements in the underlying business, supply constraints and cost inflation, with the year-on-year progression also impacted by the significant one-offs seen in 2021.

The company will release its fourth quarter and full year 2021 financial results on February 3 when it will also revisit its longer-term outlook.

In Finland, Nokia shares were trading at 5.59 euros, up 2.5 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Auto giant Ford Motor Co. (F) has issued a recall of about 39,000 2021 Expedition and Lincoln Navigator vehicles due to fire risk. The company has asked the customers of the recalled 2021 Ford Expedition and Lincoln Navigator SUVs to park their vehicles outside and away from structures while it investigates... The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Plumrose USA's ready-to-eat or RTE ham product citing that it may not be fully cooked due to underprocessing. The product subject to the public health alert is 1-lb resealable plastic packages containing "Great Value Black Forest Ham Water Added" with a "BEST IF USED BY 07/15/22". America New York Ri Wang Food Group Co., Ltd. is recalling around 14,635 pounds of ready-to-eat or RTE pork sausage products due to possible contamination with extraneous materials, specifically metal, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said.
Follow RTT