NOK FY 2015 Earnings Report — Nokia Oyj Revenue & Financial Results | Market Cap Arena

FY 2015 Earnings

Reported April 1, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$14.7B	—	$13.8B	—	6.8%
Op. Income	$2.0B	—	$1.7B	—	20.0%
Gross Margin	44.6%	—	42.4%	—	2.2pp
Net Margin	19.6%	—	29.4%	—	-9.8pp
EPS (Diluted)	$0.72	—	$0.98	—	-26.2%
Free Cash Flow	$226M	—	$1.1B	—	-80.0%

Revenue Flow

Item	Amount
REVENUE	$14.7B
Cost of Revenue	$8.1B
GROSS PROFIT	$6.5B
R&D Expenses	$2.4B
Selling & Marketing	$2.1B
General & Administrative	$0
SG&A Expenses	$2.1B
Other Expenses	$56M
Operating Expenses	$4.6B
Cost & Expenses	$12.7B
OPERATING INCOME	$2.0B
Interest Income	$43M
Interest Expense	$163M
Other Income/Expenses	-$184M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$405M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$1.5B
Other Adjustments	$0
NET INCOME	$2.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.9B
D&A	$374M
EBIT	$2.0B
EBITDA	$2.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$14.7B
Cost of Revenue	$8.1B
GROSS PROFIT	$6.5B
R&D Expenses	$2.4B
Selling & Marketing	$2.1B
General & Administrative	$0
SG&A Expenses	$2.1B
Other Expenses	$56M
Operating Expenses	$4.6B
Cost & Expenses	$12.7B
OPERATING INCOME	$2.0B
Interest Income	$43M
Interest Expense	$163M
Other Income/Expenses	-$184M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$405M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$1.5B
Other Adjustments	$0
NET INCOME	$2.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.9B
D&A	$374M
EBIT	$2.0B
EBITDA	$2.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.9B
Depreciation & Amortization	$374M
Stock-Based Compensation	$57M
Deferred Income Tax	$395M
Other Non-Cash Items	-$1.9B
Change in Working Capital	-$1.2B
OPERATING CASH FLOW	$593M
Capital Expenditure	-$367M
Acquisitions (Net)	$2.9B
Purchases of Investments	-$4.1B
Sales/Maturities of Investments	$3.8B
Other Investing Activities	-$20M
NET CASH FROM INVESTING	$2.2B
Net Debt Issuance	$179M
Common Stock Repurchased	-$263M
Common Dividends Paid	-$599M
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$683M
FREE CASH FLOW	$226M
Net Change in Cash	$2.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$8.2B
Short-Term Investments	$3.5B
Net Receivables	$5.0B
Inventory	$1.2B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$18.5B
PP&E (Net)	$813M
Goodwill	$277M
Intangible Assets	$378M
Long-Term Investments	$1.2B
Tax Assets	$3.1B
Other Non-Current Assets	$146M
TOTAL NON-CURRENT ASSETS	$5.9B
TOTAL ASSETS	$24.4B
Account Payables	$2.2B
Short-Term Debt	$60M
Deferred Revenue	$2.2B
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$7.5B
Long-Term Debt	$2.4B
Deferred Revenue NC	$1.4B
Deferred Tax Liabilities	$72M
Other Non-Current Liabilities	$2.3B
TOTAL NON-CURRENT LIABILITIES	$4.7B
TOTAL LIABILITIES	$12.2B
Common Stock	$288M
Additional Paid-In Capital	$444M
Retained Earnings	$7.3B
Treasury Stock	-$839M
Accum. Other Comp. Income	$5.0B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$12.2B
Minority Interest	$25M
TOTAL EQUITY	$12.2B
TOTAL LIABILITIES & EQUITY	$24.4B
Total Debt	$2.4B
Net Debt	-$5.8B