Nokia Q4 Profit Climbs; Expects Another Year Of Growth - Quick Facts

(RTTNews) - Nokia Corp. (NOK) reported that its fourth quarter profit climbed to 3.15 billion euros or 0.56 euros per share from 680 million euros or 0.12 euros per share in the same quarter last year. The company re-recognized deferred tax asset of 2.5 billion euros in the latest quarter which boosted reported net profit.

Comparable earnings per share for the quarter rose to 0.16 euros from 0.13 euros in the prior year.

Net sales for the fourth-quarter grew 16% to 7. 45 billion euros from 6.41 billion euros in the previous year. Quarterly net sales grew 11% year-over-year in constant currency.

The Board resolved to distribute a dividend of 0.02 euros per share. The dividend record date is on 31 January 2023 and the dividend will be paid on 9 February 2023.

Looking forward to 2023, while it is mindful of the uncertain economic outlook, demand remains robust. The company expects another year of growth. It expects net sales to be between 24.9 billion euros and 26.5 billion euros which implies between 2% and 8% growth in constant currency. It also targets a comparable operating margin in the range of 11.5% to 14.0%.

The company said its board has proposed an increase in the dividend to 0.12 euros per share, due to confidence in its long-term outlook and strong balance sheet position.

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