Nokia Reported Flat Revenue in the Last Quarter
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.