Company: NOKBF
Filing Date: 2025-07-22
Form Type: 6-K
Source: 0001104659-25-069532
Chunk: 1

Company: NOKIA CORP
Filing Date: 2025-07-22
Form: 6-K
Chunk 1
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, while the currency rate used in January was 1.04.

Since Nokia provided guidance in January for the full year 2025, two headwinds outside its control are impacting the 2025 outlook. The largest headwind is currency fluctuations (particularly the weaker USD), an approximately EUR 230 million negative impact (EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations). Also, the current tariff landscape is expected to impact full year operating profit by EUR 50 million to EUR 80 million.

Update to Nokia’s financial outlook for 2025

|                                                            | Updated                            | Previous (Issued 30 Jan)           |
| Comparable Operating Profit1                               | EUR 1.6 billion to EUR 2.1 billion | EUR 1.9 billion to EUR 2.4 billion |
| Free cash flow conversion from comparable operating profit | 50% to 80%                         | 50% to 80%                         |

1Outlook is based on a EUR:USD rate of 1.17 for the remainder of the year.

In the second quarter, based on its preliminary financials, Nokia expects to report net sales of approximately EUR 4.55 billion and comparable operating profit of EUR 300 million. The Q2 comparable operating profit includes a negative impact from its venture funds of EUR 50 million primarily related to currency.

www.nokia.com

| Stock exchange release 
 22                     
 July 2025              |     | 2 (3) |

Nokia will release its second quarter and half year 2025 financial results on Thursday 24 thJuly 2025.

Nokia will conduct a conference call with analysts and investors to discuss its second quarter performance and business outlook on 24 July 2025 at 11:30am EEST / 09:30am BST / 04:30am US EST.

About Nokia

At Nokia, we create technology that helps the world act together.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work