Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 19

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 19
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 liabilities        
 and increase in receivables, partially offset by a decrease in inventories. 23 October 2025         
 6                                                                                                   |

| Nokia                                                                                                
 Technologies EUR million Q3'25 Q3'24 YoY change Constant currency YoY change Q1-Q3'25 Q1-Q3'24       
 YoY change Constant currency YoY change Net sales 391 352 11% 14% 1 118 1 464 (24)% (22)%            
 Gross profit 391 352 11% 1 118 1 464 (24)% Gross margin % 100.0% 100.0% 0bps 100.0% 100.0%           
 0bps Operating profit 296 242 22% 810 1 158 (30)% Operating margin % 75.7% 68.8% 690bps 72.5%        
 79.1% (660)bps Adjusted free cash flow 374 84 345% 807 695 16% Nokia Technologies net sales          
 increased 11% on a reported basis and 14% on a constant currency basis. The growth was mainly        
 a result from catch up net sales related to agreements signed during the quarter. Nokia Technologies 
 continues to make good progress in expanding to growth areas such as automotive, consumer            
 electronics, IoT and multimedia. Nokia Technologies annual net sales run-rate remained approximately 
 EUR 1.4 billion in the third quarter. The increase in operating profit reflected higher gross        
 profit, positive hedging results and lower operating expenses from lower litigation expenses         
 which were somewhat offset by continued R&D investments. Adjusted free cash flow in the              
 third quarter was EUR 374 million, resulting from Nokia Technologies operating profit as             
 well as payments received in the quarter. Cash flow is expected to align more closely with           
 operating profit through 2025 and onwards. Group Common and Other EUR million Q3'25 Q3'24            
 YoY change Constant currency YoY change Q1-Q3'25 Q1-Q3'24 YoY change Constant currency YoY           
 change Net sales 4 3 33% 33% 11 29 (62) % (62)% Gross loss — (1) (6) (2) Operating                   
 loss(1) (89) (94) (264) (258) Adjusted free cash flow (153) (123) (483) (395) (1) In Q