Siemens Opens Its Largest Global Research Hub
Siemens has opened the first building complex of its Technology Center (STC) at Garching Research Campus, north of Munich, Germany.
Nokia had flat revenue in the fourth quarter of 2019 on a yearly basis. In full year 2019 their revenue was 3% higher than in 2018.
Net sales in the previous quarter were €6.9 billion, approximately flat compared to the same quarter of 2018. In full year 2019, net sales were €23.3 billion, compared to €22.6 billion in 2018. Non-IFRS diluted EPS in 4Q19 was €0.15, compared to EUR 0.13 in the same period of 2018. Diluted EPS was €0.10, compared to €0.03 in 2018. In full year 2019, Nokia’s non-IFRS diluted EPS was €0.22 (€0.23 in 2018). In full year, Nokia generated a profit of €18 million and a diluted EPS of €0.00, compared to a loss of €549 million and a diluted EPS of negative €0.10 in 2018.
"These results show a strong end to a challenging year. We saw strength in many parts of our business in the quarter, delivered a slightly better operating profit than the same period in 2018, generated solid free cash flow, and increased our net cash balance to €1.7 billion," said Rajeev Suri, President and CEO of Nokia.
For the full-year 2019 performance, Suri said that they have made good progress in strategic focus areas of enterprise and software. "Nokia Enterprise delivered exceedingly well on its target of double-digit sales growth, considerably outpacing the market. Nokia Software showed its long-term promise, with exceptional profitability expansion compared to 2018. In addition, IP Routing continued its remarkable momentum, gaining significant share and increasing profitability in a difficult market; and Nokia Technologies continued to generate robust profitability," added Suri.
Nokia CEO said that 2020 should bring more challenges, but expects to see better results. "While I believe that 2020 will present its share of challenges, I am confident that we are taking the right steps to deliver progressive improvement over the course of this year and to position us for a stronger 2021," concluded Suri.