Nokia Q3 Sales Above Estimates, To Share New Strategy At CMD

Oct 23 (Reuters) - Nokia Oyj NOKIA.HE:

• EBIT EUR 239 MILLION

• EBIT MARGIN 5%

• Q3 GROSS MARGIN 43.7%

• Q3 EPS EUR 0.01

• Q3 SALES EUR 4,828 MILLION VERSUS. IBES ESTIMATE EUR 4,650 MILLION

• Q3 ADJUSTED EBIT MARGIN 9%

• Q3 ADJUSTED EPS EUR 0.06

• Q3 COMPARABLE OPER PROFIT EUR 435 MLN VS IBES ESTIMATE EUR 340.1 MLN

• OUTLOOK IS UNCHANGED FOR FULL YEAR 2025

• TO SCALE DOWN OUR PASSIVE VENTURE FUND INVESTMENTS

• CHANGE IN VENTURE FUND REPORTING LEADS TO A EUR 0.1 BILLION REVISION TO OPERATING PROFIT

• COMPARABLE OPERATING PROFIT GUIDANCE IS REVISED TO BETWEEN EUR 1.7 AND 2.2 BILLION (WAS BETWEEN EUR 1.6 AND 2.1 BILLION).

• GROSS MARGIN DECLINED 150 BASIS POINTS COMPARED TO PRIOR YEAR.

• WE HAVE DECIDED TO SCALE DOWN OUR PASSIVE VENTURE FUND INVESTMENTS.

• WE MAY STILL MAKE TARGETED MINORITY INVESTMENTS

• TO SHARE STRATEGY TO UNLOCK FULL POTENTIAL OF PORTFOLIO, STEPS TO DELIVER GROWTH AND OPERATING LEVERAGE AT CMD IN NOVEMBER