Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 53

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 53
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 constant currency and portfolio net sales growth excludes                
 the effects of changes in exchange rates during the current period and is adjusted for the              
 impact of portfolio changes by including net sales from certain specific acquisitions and               
 excluding net sales from certain specific divestitures from the beginning of the comparative            
 period. We provide additional information on net sales growth on a constant currency and                
 portfolio basis in order to better reflect the underlying business performance when reported            
 net sales have changed not only due to changes in foreign exchange rates but also as a result           
 of acquisitions or disposals. Total cash and interest-bearing financial investments ("Total             
 cash") Total cash and interest-bearing financial investments consist of cash and cash equivalents       
 and current interest-bearing financial investments and non-current interest-bearing financial           
 investments. Total cash and interest-bearing financial investments is used to indicate funds            
 available to Nokia to run its current and invest in future business activities as well as               
 provide return for security holders. Net cash and interest-bearing financial investments                
 ("Net cash") Net cash and interest-bearing financial investments equals total cash and interest-bearing 
 financial investments less long-term and short-term interest-bearing liabilities. Lease liabilities     
 are not included in interest-bearing liabilities. Net cash and interest-bearing financial               
 investments is used to indicate Nokia's liquidity position after cash required to settle                
 the interest-bearing liabilities. Free cash flow Net cash flows from operating activities               
 – purchases of property, plant and equipment and intangible assets (capital expenditure).               
 Free cash flow is the cash that Nokia generates after investments in property, plant and                
 equipment and intangible assets, and we believe it provides meaningful supplemental information         
 as it represents the cash available to service and repay interest-bearing financial liabilities,        
 including lease liabilities, make investments to grow business and distribute funds to shareholders.    
 It is a measure of cash generation, working capital efficiency and capital discipline of                
 the business. Adjusted free cash flow Cash flows from operations – purchases of property,               
 plant and equipment and intangible assets (capital expenditure). Adjusted free cash flow                
 is an additional measure of cash generation, working capital efficiency and capital discipline          
 used by management and investors to evaluate cash generation capacity of each of the business           
 groups individually. Adjusted free cash flow is intended as a measure of business group performance     
 and is calculated as the free cash flow but excluding interest received, interest paid, and             
 income taxes paid, items that are related to the group structure and which cannot be allocated          
 to the business groups in a meaningful way. This measure is not intended to be used to analyze          
 the