Company: NOKBF
Filing Date: 2025-01-30
Form Type: 6-K
Source: 0001104659-25-007448
Chunk: 1

Company: NOKIA CORP
Filing Date: 2025-01-30
Form: 6-K
Chunk 1
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 in both reported and constant currency, of which 7 percentage points was related to India. Comparable 
 operating profit was EUR 2.6 billion (reported EUR 2.0 billion).                                                                           |

| · | Full year comparable diluted EPS of EUR 0.39; reported diluted EPS of 0.23. |

| · | Board proposes dividend authorization of EUR 0.14 per share. |

| · | Nokia issues full year 2025 outlook on an organic basis. Nokia expects comparable operating profit of between EUR 1.9 billion and 
 2.4 billion and free cash flow conversion from comparable operating profit of between 50% and 80%.                                |

This is a summary of the Nokia Corporation Financial report for Q4 and full year 2024 published today. Nokia only publishes a summary of its financial reports in stock exchange releases. The summary
focuses on Nokia Group's financial information as well as on Nokia's outlook. The detailed, segment-level discussion will be available
in the complete financial report hosted at . A video interview summarizing the key points of our Q4 results
will also be published on the website. Investors should not solely rely on summaries of Nokia's financial reports and should also review
the complete reports with tables.

PEKKA LUNDMARK, PRESIDENT AND CEO, ON Q4 AND FULL YEAR 2024 RESULTS

In the following quote, net sales growth rates are on a constant currency basis

We saw a strong finish to 2024 with 9% net sales growth year-on-year
in Q4. I am optimistic that the improving market trends we are now seeing will persist into 2025. Alongside the net sales growth, we saw
excellent profitability in Q4 with a comparable operating margin of 19.1%. This meant our full year comparable operating profit was EUR
2.6 billion, at the mid-point of our guidance of EUR 2.3 to 2.9 billion.

| 2                                      
 STOCK EXCHANGE RELEASE 30 January 2025 |

All business groups delivered a strong operational performance in
the quarter. Net sales growth in Network Infrastructure accelerated to 17%, with IP Networks growing 24%, Fixed Networks 16% and Optical
Networks 7%. This reflected a strong recovery in demand from communication service providers, notably in North America.

Mobile Networks net sales stabilized with continued resilience in gross
margin. We also secured many important deals, winning 18 000 additional base station sites, since the start