Nokia Backs FY21 View; Sees Comparable Margin Growth In FY23 - Quick Facts

(RTTNews) - Nokia Corp. (NOK) on Thursday reiterated its financial outlook for 2021 and provided outlook for fiscal 2023.

In its Capital Markets Day 2021 today, the company is setting out a three-phased journey to deliver sustainable, profitable growth and technology leadership, aiming to deliver double-digit comparable operating margins in 2023.

For 2021, the company continues to expect comparable operating margin of 7 percent to 10 percent, and net sales, adjusted for currency fluctuations, of 20.6 billion euros to 21.8 billion euros.

For 2023, Nokia anticipates comparable operating margin to increase to 10-13 percent, and net sales, adjusted for currency fluctuations, to grow faster than the market.

Nokia's total estimated addressable market is expected to grow at a compounded annual growth rate or CAGR of approximately 1 percent from 2020 to 2023.

Nokia also updated its dividend policy. After the fourth quarter, the Board will assess the possibility of proposing a dividend distribution for the financial year 2021 based on the updated dividend policy.