13 July 2021 at 9:00 EET
Nokia expects to revise upwards its 2021 financial guidance
Espoo, Finland – Nokia is today providing an update to its financial guidance for full year 2021. In the second quarter Nokia saw continued strength in the business, improving its expectations for the full year. Nokia now expects to revise upwards its prior outlook ranges for 2021. Nokia plans to provide full details on its second quarter and half-year financial performance and revised full year 2021 guidance on 29 July 2021.
The previous outlook for 2021 (reiterated on 29 April 2021) was:
|Net sales, adjusted for currency fluctuations1||€20.6bn to €21.8bn|
|Comparable operating margin||7 to 10%|
|Free cash flow||Positive|
|Comparable ROIC||10 to 15%|
1)Assuming continuation of 2020 year-end EUR/USD rate of 1.23.
“We are progressing well with our three-phased plan to achieve sustainable, profitable growth and technology leadership laid out at our Capital Markets Day in March. Our first half performance has shown evidence of this in good cost control and also benefited from strength in a number of our end markets. We continue to expect some headwinds in the second half as we have previously highlighted but our performance in the first half provides a good foundation for the full year,” said Pekka Lundmark, Nokia President and CEO.
The company will release its second quarter and half year 2021 financial results on Thursday 29 July 2021.
Nokia will conduct a conference call with analysts and investors to discuss its second quarter performance and business outlook on 29 July 2021 at 11:30am EET / 9:30am BST / 4:30am US EST.
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