Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 16

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 16
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 operations       
 150 311 (52)% 480 215 123% Discontinued operations(1) — (21) — (34) Net sales                     
 by region Americas 930 658 41% 12% 2 511 1 865 35% 11% APAC 432 336 29% 25% 1 237 937 32%         
 28% EMEA 591 531 11% 0% 1 832 1 685 9% (1)% (1) Comprises Submarine Networks business which       
 has been presented as discontinued operation beginning from the second quarter of 2024. Network   
 Infrastructure net sales increased 28% on a reported basis and 11% on a constant currency         
 and portfolio basis, reflecting growth across each of the business units. Third quarter 2025      
 reported net sales benefited from the acquisition of Infinera. IP Networks net sales increased    
 4% on a constant currency basis, as growth with CSP customers was complemented by continued       
 traction with AI & Cloud customers. On a regional basis, we saw strength in North America,        
 while in Europe net sales decreased. Optical Networks net sales grew 19% on a constant currency   
 and portfolio basis. Underlying demand trends remained particularly strong in Optical Networks.   
 The growth reflected strength in North America, both with CSP customers and AI & Cloud.           
 Optical Networks saw continued success in the AI & Cloud market with significant order            
 intake growth in the quarter. Fixed Networks net sales increased 8% on a constant currency        
 basis. Strong performance in APAC continued, mainly driven by fixed wireless access deployments   
 in India. The increase in APAC was partially offset by decreases in other regions. Gross          
 profit improved year-on-year, primarily driven by higher net sales and the inclusion of Infinera. 
 Gross margin decreased, mainly due to IP Networks and Fixed Networks, partially offset by         
 Optical Networks. Operating profit decreased year-on-year, reflecting higher operating expenses   
 related to the Infinera acquisition and R&D investments to drive future growth opportunities,     
 as well as higher variable pay accruals. This was partially offset by higher gross profit.        
 Operating margin declined due to the lower gross margin and higher operating expense intensity.   
 The consolidation of Infinera had an EUR 17 million positive impact on Network Infrastructure's   
 operating profit in the quarter. Adjusted free cash flow in the third quarter was EUR 150         
 million, mainly reflecting the