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Nokia Releases Second Quarter Financial Highlights
Posted: 21-Jul-2011 [Source: Nokia]

[Nokia reports net sales YoY down 7% and QoQ down 11%. Devices and services net sales down 20% YoY and down 23% QoQ.]

Expoo, Finland -- By volume, Nokia sold 88.5 million mobile devices Q2 of this year compared to 111.0 million devices Q2 last year. First quarter 2011 Nokia sold 108.5 million devices which is an -18% change QoQ and a -20% change YoY.

SECOND QUARTER 2011 FINANCIAL HIGHLIGHTS

The non-IFRS results exclude:

Q2 2011 — EUR 878 million consisting of:

- EUR 68 million restructuring charge and other associated items in Nokia Siemens Networks

- EUR 297 million restructuring charge in Devices & Services

- EUR 275 million accrued Accenture deal consideration in Devices & Services

- EUR 41 million impairment of shares in an associated company in Devices & Services

- EUR 83 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks and the acquisition of Motorola’s networks assets

- EUR 111 million of intangible asset amortization and other purchase price accounting related items arising from the acquisition of NAVTEQ

- EUR 3 million of intangible assets amortization and other purchase price related items arising from the acquisition of OZ Communications, Novarra and Motally in Devices & Services

Q2 2010 — EUR 365 million consisting of:

- EUR 114 million restructuring charge and other associated items in Nokia Siemens Networks

- EUR 116 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks

- EUR 131 million of intangible asset amortization and other purchase price accounting related items arising from the acquisition of NAVTEQ

- EUR 4 million of intangible assets amortization and other purchase price related items arising from the acquisition of OZ Communications, Novarra and MetaCarta in Devices & Services

Q1 2011 — EUR 265 million consisting of:

- EUR 28 million restructuring charge and other associated items in Nokia Siemens Networks

- EUR 117 million of intangible asset amortization and other purchase price accounting related items arising from the formation of Nokia Siemens Networks

- EUR 116 million of intangible asset amortization and other purchase price accounting related items arising from the acquisition of NAVTEQ

- EUR 4 million of intangible assets amortization and other purchase price related items arising from the acquisition of OZ Communications, Novarra and Motally in Devices & Services Non-IFRS results exclude special items for all periods. In addition, non-IFRS results exclude intangible asset amortization, other purchase price accounting related items and inventory value adjustments arising from i) the formation of Nokia Siemens Networks and ii) all business acquisitions completed after June 30, 2008.

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