NOK FY 2014 Earnings Report — Nokia Oyj Revenue & Financial Results | Market Cap Arena

FY 2014 Earnings

Reported March 19, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$13.8B	—	$13.8B	—	-0.3%
Op. Income	$1.7B	—	$786M	—	110.4%
Gross Margin	42.4%	—	39.3%	—	3.1pp
Net Margin	29.4%	—	-5.2%	—	34.6pp
EPS (Diluted)	$0.98	—	$-0.20	—	594.1%
Free Cash Flow	$1.1B	—	-$392M	—	387.8%

Revenue Flow

Item	Amount
REVENUE	$13.8B
Cost of Revenue	$7.9B
GROSS PROFIT	$5.8B
R&D Expenses	$2.2B
Selling & Marketing	$1.8B
General & Administrative	$0
SG&A Expenses	$1.8B
Other Expenses	$130M
Operating Expenses	$4.2B
Cost & Expenses	$12.1B
OPERATING INCOME	$1.7B
Interest Income	$85M
Interest Expense	$457M
Other Income/Expenses	-$485M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	-$2.0B
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$886M
Other Adjustments	$0
NET INCOME	$4.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.0B
D&A	$347M
EBIT	$1.6B
EBITDA	$2.0B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$13.8B
Cost of Revenue	$7.9B
GROSS PROFIT	$5.8B
R&D Expenses	$2.2B
Selling & Marketing	$1.8B
General & Administrative	$0
SG&A Expenses	$1.8B
Other Expenses	$130M
Operating Expenses	$4.2B
Cost & Expenses	$12.1B
OPERATING INCOME	$1.7B
Interest Income	$85M
Interest Expense	$457M
Other Income/Expenses	-$485M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	-$2.0B
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$886M
Other Adjustments	$0
NET INCOME	$4.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.0B
D&A	$347M
EBIT	$1.6B
EBITDA	$2.0B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$4.0B
Depreciation & Amortization	$347M
Stock-Based Compensation	$43M
Deferred Income Tax	-$1.5B
Other Non-Cash Items	-$2.8B
Change in Working Capital	$1.3B
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$364M
Acquisitions (Net)	$2.7B
Purchases of Investments	-$3.6B
Sales/Maturities of Investments	$2.1B
Other Investing Activities	$83M
NET CASH FROM INVESTING	$1.0B
Net Debt Issuance	-$3.2B
Common Stock Repurchased	-$499M
Common Dividends Paid	-$1.6B
Other Financing Activities	-$53M
NET CASH FROM FINANCING	-$5.4B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$2.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$6.0B
Short-Term Investments	$3.3B
Net Receivables	$4.2B
Inventory	$1.5B
Other Current Assets	$35M
TOTAL CURRENT ASSETS	$16.0B
PP&E (Net)	$837M
Goodwill	$3.0B
Intangible Assets	$409M
Long-Term Investments	$1.0B
Tax Assets	$3.2B
Other Non-Current Assets	$130M
TOTAL NON-CURRENT ASSETS	$8.6B
TOTAL ASSETS	$24.6B
Account Payables	$2.7B
Short-Term Debt	$136M
Deferred Revenue	$2.1B
Other Current Liabilities	$1.5B
TOTAL CURRENT LIABILITIES	$8.5B
Long-Term Debt	$3.0B
Deferred Revenue NC	$2.6B
Deferred Tax Liabilities	$37M
Other Non-Current Liabilities	$3.0B
TOTAL NON-CURRENT LIABILITIES	$6.0B
TOTAL LIABILITIES	$14.5B
Common Stock	$288M
Additional Paid-In Capital	$513M
Retained Earnings	$5.5B
Treasury Stock	-$1.2B
Accum. Other Comp. Income	$4.9B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.1B
Minority Interest	$68M
TOTAL EQUITY	$10.1B
TOTAL LIABILITIES & EQUITY	$24.6B
Total Debt	$3.1B
Net Debt	-$2.9B