Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 18

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 18
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 reflecting the operating profit       
 and inflow from net working capital with lower inventories. Receivables increase was offset         
 by an increase in liabilities. Cloud and Network Services EUR million Q3'25 Q3'24 YoY change        
 Constant currency and portfolio YoY change Q1-Q3'25 Q1-Q3'24 YoY change Constant currency           
 and portfolio YoY change Net sales 645 595 8% 13% 1 769 1 649 7% 12% Gross profit 316 269           
 17% 814 674 21% Gross margin % 49.0% 45.2% 380bps 46.0% 40.9% 510bps Operating profit/(loss)        
 77 56 38% 100 (16) (725)% Operating margin % 11.9% 9.4% 250bps 5.7% (1.0)% 670bps Adjusted          
 free cash flow 81 59 37% 267 63 324% Net sales by region Americas 296 259 14% 21% 744 683           
 9% 15% APAC 115 113 2% 9% 362 344 5% 10% EMEA 234 223 5% 6% 663 621 7% 9% Cloud and Network         
 Services net sales increased 8% on a reported basis, and 13% on a constant currency. The            
 growth was broad-based in the business group and particularly in Core Networks. From a regional     
 perspective, Cloud and Network Services saw broad based net sales growth on a constant currency     
 basis. In the Americas, there was strong growth in North America with a slight decline in           
 Latin America. APAC also grew, primarily outside of Greater China. EMEA showed modest increases     
 in both Europe and Middle East and Africa. Gross profit and gross margin increased, the latter      
 by 380bps year-on-year which was driven by improving services and care delivery costs and           
 leverage from the growth in net sales. Both operating profit and operating margin improved          
 year-on-year, mainly reflecting the increased gross profit. This was partially offset by            
 a slight increase in operating expenses and lower other operating income. Adjusted free cash        
 flow in the third quarter was EUR 81 million mainly reflecting the operating profit, which          
 was partly offset by outflows from net working capital related to an decrease in