Company: NOKBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001104659-25-101680
Chunk: 17

Company: NOKIA CORP
Filing Date: 2025-10-23
Form: 6-K
Chunk 17
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 operating profit and inflow from net working capital related       
 to an increase in liabilities and decrease in inventories, partially offset by an increase        
 in receivables. 23 October 2025 5                                                                 |

| Mobile                                                                                              
 Networks 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 1 842 1 854 (1)% 4% 5 303 5 614 (6)% (3)%         
 Gross profit 641 713 (10)% 1 887 2 268 (17)% Gross margin % 34.8% 38.5% (370)bps 35.6% 40.4%        
 (480)bps Operating profit/(loss) 12 101 (88)% (64) 251 (126)% Operating margin % 0.7% 5.4%          
 (470)bps (1.2)% 4.5% (570)bps Adjusted free cash flow 71 396 (82)% 491 1 774 (72%) Net sales        
 by region Americas 492 521 (6)% 0% 1 519 1 650 (8)% (5)% APAC 629 606 4% 11% 1 661 1 783            
 (7)% (3)% EMEA 722 727 (1)% 2% 2 122 2 181 (3)% (1)% Mobile Networks net sales decreased            
 1% on a reported basis and increased 4% on a constant currency basis. The increase in net           
 sales in constant currency was primarily driven by APAC. Vietnam grew strongly while India          
 also grew in the quarter whereas Greater China declined. There was growth in EMEA driven            
 by Middle East and Africa. This was partially offset by declines in Europe. Americas net            
 sales was stable. Both Gross Profit and Gross Margin declined as expected due to a weaker           
 software contribution in the quarter. Operating profit and operating margin were lower year-on-year 
 in Q3 2025. The operating profit decline reflected the decline in gross profit. Other operating     
 income decreased, as the year ago quarter benefited from the reversal of a loss allowance,          
 offsetting a reduction in operating expenses from the continuing cost savings program. Adjusted     
 free cash flow in the third quarter was EUR 71 million mainly