Nokia Corp. reported earnings for the fourth quarter higher than expected, and said the balance sheet has strengthened to the point where it can resume distributions to shareholders through a dividend and a share-buying program.
Comparable net profit for the quarter fell to 727 million euros from 787 million euros a year ago. Sales amounted to 6.41 billion euros.
Analysts had expected comparable net profits of 676 million euros compared to losses of 2.69 billion euros a year ago.
“Nokia has entered a strong position in 2022 with improved margins, faster-than-expected implementation of the strategy and high outstanding balance, although the global supply chain remains difficult,” said CEO Pekka Lundmark.
“We see opportunities in 5G growth and the growing business market,” Lundmark added.
Nokia has maintained its estimates for 2022, and expects an adjusted operating margin of 11% -13.5%, adding that it expects another year in which sales will increase.
The long-term goal of the company is to grow faster than the market and achieve a comparable operating margin of at least 14%.
Nokia proposed a dividend of 0.80 euros and a share acquisition of up to 600 million euros.
Source: Capital
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