EUR million 1Q/2000 1Q/1999 Change% 1999
Net sales 6 537 3 870 + 69 19 772
Nokia Networks 1 502 1 108 + 36 5 673
Nokia Mobile Phones 4 839 2 577 + 88 13 182
Nokia Ventures Organization 211 64 + 230 415
Operating profit 1 316 768 + 71 3 908
Nokia Networks 273 226 + 21 1 082
Nokia Mobile Phones 1 161 616 + 88 3 099
Nokia Ventures Organization - 70 - 23 - 175
Common Group Expenses - 48 - 51 - 98
Profit before tax and
minority interests 1 333 758 + 76 3 845
Net profit 891 505 + 76 2 577
EPS, EUR
Basic, split-adjusted 0.19 0.11 + 73 0.56
Diluted, split-adjusted 0.19 0.11 + 73 0.54
Nokia has started the new millennium with continued strong operating results. Net sales growth of 69% to EUR 6 537 million, compared to the first quarter of 1999, was fueled by strong market demand and Nokia's highly competitive product range. Operating profit was EUR 1 316 million, an increase of 71% compared to the same period in 1999. Operating margin was 20.1%, up from 19.8% a year ago.
Jorma Ollila, Nokia Chairman and CEO, said: "I am very pleased with the outstanding progress that has continued in all our operations during the first quarter of 2000. In a highly competitive and fast-moving environment we have continued to achieve industry-leading growth, profitability and increased market share in many areas. We will continue to keep the interests of our customers and partners at the forefront and endeavor to provide them with technologies and solutions that help them retain a competitive edge. The whole of our personnel deserves special thanks for their extraordinary achievements."
"Based on current market conditions and our globally strong position, we are confident we can achieve full-year revenue growth at, or higher than, the earlier stated 30 - 40% range, combined with continued strong profitability", said Ollila.
Currency rate March 31, 2000, 1 EUR = 0.966 USD, 1 EUR = 5.94573 FIM
Nokia is paving the way to the Mobile Information Society with its innovative products and solutions. The company is the leading mobile phone supplier and a leading supplier of mobile, fixed and IP networks, related services as well as multimedia terminals. In 1999, Nokia's net sales totaled EUR 19.8 billion (USD 19.9 billion). Headquartered in Finland, Nokia is listed on the New York (NOK), Helsinki, Stockholm, London, Frankfurt and Paris stock exchanges and employs more than 56 000 people.
For more information:
Lauri Kivinen, Corporate Communications,
tel. + 358 9 1807 495
Ulla James, Investor Relations, tel. + 1 972 894 4880
Antti Räikkönen, Investor Relations, tel. + 358 9 1807 290
The results release as a pdf-format is also available in different languages (English, Finnish, Swedish, German, French, Spanish and Italian) on http://www.nokia.com/investor/index.html