Nokia Oyj (NOK) · 28 Years of Financial statements

Income Statement

Revenue

8,371

8,508

9,694

15,546

19,979

28,706

27,837

31,549

37,013

39,651

40,462

54,275

74,611

71,061

58,681

56,789

50,044

39,814

17,469

15,402

13,574

24,825

27,767

25,878

26,136

26,688

25,239

26,381

COGS

5,803

6,065

6,264

9,682

12,354

18,023

17,659

19,211

21,660

24,567

26,282

36,617

49,325

46,715

39,689

39,641

35,392

28,744

10,122

8,582

7,652

15,936

16,804

16,191

16,803

16,682

15,197

15,556

Gross Profit

2,568

2,443

3,430

5,864

7,624

10,682

10,178

12,338

15,354

15,084

14,180

17,658

25,286

24,346

18,991

17,148

14,652

11,070

7,347

6,820

5,922

8,890

10,963

9,687

9,333

10,006

10,042

10,825

Gross Profit Ratio

30.68%

28.71%

35.38%

37.72%

38.16%

37.21%

36.56%

39.11%

41.48%

38.04%

35.05%

32.53%

33.89%

34.26%

32.36%

30.20%

29.28%

27.80%

42.06%

44.28%

43.63%

35.81%

39.48%

37.43%

35.71%

37.49%

39.79%

41.03%

Operating Expenses

1,428

1,521

1,872

2,961

3,676

5,224

7,177

7,314

9,057

9,218

8,690

10,416

13,618

17,385

15,731

14,523

13,623

14,108

5,875

4,992

4,042

9,197

10,179

9,304

8,288

8,765

8,008

8,370

R&D Expenses

- -

761

840

1,341

1,773

2,442

2,664

3,208

4,725

5,058

4,527

5,143

8,252

8,363

8,461

7,844

7,265

6,309

3,600

3,016

2,309

5,156

5,897

5,299

4,945

4,991

4,790

4,818

Selling, G&A Exp.

1,428

760

1,032

1,619

1,830

2,650

3,073

3,404

4,226

4,031

4,225

5,253

8,125

7,938

7,271

6,679

6,359

5,494

2,297

1,977

1,794

4,015

4,337

3,972

3,476

3,539

3,174

3,191

General and Admin. Exp.

- -

1,639

1,492

1,451

1,265

958

- -

Selling and Marketing Exp.

- -

5,631

5,187

4,907

4,229

1,339

1,977

1,794

4,015

4,337

3,972

3,476

3,539

3,174

3,191

Other Expenses

- -

1

- -

72

131

1,440

702

106

130

(61)

19

(2,758)

1,085

- -

2,305

(22)

- -

(61)

26

(55)

33

(133)

234

43

361

COGS and Expenses

7,231

7,587

8,136

12,643

16,030

23,247

24,836

26,525

30,716

33,785

34,972

47,033

62,943

64,101

55,421

54,164

49,015

42,853

15,996

13,574

11,694

25,132

26,983

25,494

25,090

25,447

23,204

23,926

Interest Income

- -

172

186

88

40

119

72

87

82

72

85

- -

Interest Expense

- -

379

381

132

354

444

473

151

333

611

323

345

287

234

(114)

Depreciation and Amortization

- -

484

509

595

672

953

1,277

1,378

1,430

1,176

843

940

1,762

2,266

2,554

2,369

2,022

1,750

1,001

359

348

1,676

1,909

1,669

1,861

1,383

1,245

1,207

EBITDA

682

1,419

2,080

3,497

4,478

6,361

4,304

6,492

8,079

7,465

6,638

8,415

14,515

9,369

5,215

5,819

1,023

(484)

877

3,317

3,552

723

1,839

1,819

2,369

2,573

3,633

3,448

EBITDA ratio

8.15%

16.68%

21.46%

22.49%

22.41%

22.16%

15.46%

20.58%

21.83%

18.83%

16.41%

15.50%

19.45%

13.18%

8.89%

10.25%

2.04%

(1.22)%

5.02%

21.54%

26.17%

2.91%

6.62%

7.03%

9.06%

9.64%

14.40%

13.07%

Operating Income

1,140

923

1,558

2,904

3,949

5,459

3,001

5,024

6,297

5,866

5,490

7,244

11,668

6,959

1,714

2,769

(1,389)

(3,039)

713

206

1,833

(1,156)

19

(68)

544

1,081

2,453

2,455

Operating Income ratio

13.62%

10.85%

16.07%

18.68%

19.77%

19.02%

10.78%

15.92%

17.01%

14.79%

13.57%

13.35%

15.64%

9.79%

2.92%

4.88%

(2.78)%

(7.63)%

4.08%

1.34%

13.51%

(4.66)%

0.07%

(0.26)%

2.08%

4.05%

9.72%

9.31%

Total Other Income Exp.(Gains)

(35)

13

(34)

(84)

(143)

(51)

26

90

352

514

393

310

414

5

(336)

(380)

(162)

(450)

(379)

(492)

(161)

(283)

(631)

(345)

(369)

(173)

(264)

(142)

Income Before Tax

1,104

936

1,524

2,820

3,806

5,407

3,027

5,114

6,649

6,380

5,883

7,554

12,082

6,964

1,377

2,389

(1,551)

(3,488)

334

(287)

1,672

(1,439)

(612)

(413)

175

907

2,189

2,313

Income Before Tax ratio

13.19%

11.00%

15.72%

18.14%

19.05%

18.84%

10.87%

16.21%

17.96%

16.09%

14.54%

13.92%

16.19%

9.80%

2.35%

4.21%

(3.10)%

(8.76)%

1.91%

(1.86)%

12.32%

(5.80)%

(2.20)%

(1.60)%

0.67%

3.40%

8.67%

8.77%

Income Tax Expense (Gain)

175

185

419

860

1,201

1,686

1,063

1,560

2,135

1,944

1,516

1,791

2,225

1,514

1,005

593

375

1,511

278

(1,703)

376

(480)

1,112

217

155

3,977

309

(2,146)

Net Income

508

751

1,153

2,042

2,604

3,722

1,964

3,554

4,514

4,345

4,280

5,683

10,528

5,589

1,276

2,475

(1,507)

(4,098)

(845)

4,188

2,678

(805)

(1,792)

(390)

8

(3,073)

1,845

4,501

Net Income Ratio

6.06%

8.82%

11.89%

13.14%

13.03%

12.96%

7.05%

11.26%

12.20%

10.96%

10.58%

10.47%

14.11%

7.86%

2.17%

4.36%

(3.01)%

(10.29)%

(4.84)%

27.19%

19.73%

(3.24)%

(6.45)%

(1.51)%

0.03%

(11.51)%

7.31%

17.06%

EPS

0.01

0.15

0.02

0.45

0.56

0.79

0.42

0.75

0.95

0.98

1.40

2.71

1.49

0.34

0.67

(0.40)

(1.11)

(0.23)

1.14

0.73

(0.14)

(0.31)

(0.07)

0.00

(0.53)

0.33

0.80

EPS Diluted

0.01

0.15

0.02

0.44

0.54

0.77

0.41

0.75

0.95

0.98

1.38

2.68

1.47

0.34

0.67

(0.40)

(1.11)

(0.23)

1.03

0.68

(0.14)

(0.31)

(0.07)

0.00

(0.53)

0.33

0.79

Weighted Avg. Shares Outs.

4,793

72,592

72,520

4,519

4,594

4,673

4,703

4,751

4,761

4,593

4,366

4,063

3,885

3,744

3,705

3,709

3,710

3,711

3,712

3,699

3,671

5,732

5,652

5,588

5,600

5,612

5,630

Weighted Avg. Shares Outs. Dil.

4,793

72,592

72,520

4,670

4,743

4,793

4,787

4,788

4,761

4,600

4,371

4,087

3,932

3,780

3,721

3,713

3,710

3,711

3,712

4,132

3,949

5,741

5,652

5,588

5,626

5,612

5,684

SEC Link

Link

Balance Sheet

Cash and Cash Equivalents

- -

1,572

1,438

1,477

1,852

1,952

3,105

7,775

8,485

10,157

11,956

11,811

10,492

6,254

7,597

7,882

8,840

7,181

6,625

8,476

7,606

5,790

Short-Term Investments

- -

8,256

13,781

14,506

9,875

9,316

14,070

1,783

4,220

6,265

2,157

1,875

2,231

3,400

3,216

2,234

1,455

981

293

1,630

3,311

3,913

Cash & Short-Term Investments

- -

9,828

15,220

15,983

11,727

11,268

17,175

9,557

12,704

16,423

14,113

13,686

12,722

9,655

10,812

10,116

10,295

8,161

6,918

10,106

10,918

9,703

Net Receivables

- -

5,660

6,573

5,937

6,326

7,772

16,594

13,375

11,447

10,180

9,366

7,370

4,273

4,594

4,673

7,824

9,195

8,057

7,652

8,392

7,690

8,302

Inventory

- -

1,342

1,469

1,768

1,974

2,051

4,203

3,550

2,670

3,376

3,016

2,029

1,105

1,542

1,101

2,635

3,174

3,633

3,291

2,738

2,719

3,458

Other Current Assets

- -

1,653

1,974

2,741

2,400

3,441

4,835

7,807

6,987

6,339

6,457

4,461

8,211

810

598

1,208

1,165

1,103

981

1,010

950

- -

Total Current Assets

- -

18,483

25,236

26,430

22,427

24,532

42,807

34,290

33,809

36,317

32,951

27,546

26,312

16,602

17,185

21,782

23,829

20,955

18,842

22,246

22,278

21,462

PP&E

- -

1,969

1,968

2,078

1,876

2,114

2,794

2,928

2,673

2,539

2,355

1,888

778

866

755

2,083

2,223

2,053

3,103

3,161

3,192

3,118

Goodwill

- -

702

2,022

8,768

7,404

7,657

6,263

6,433

4,529

3,100

257

6,018

6,296

6,253

6,196

6,197

6,174

6,001

Intangible Assets

- -

703

466

405

356

725

3,998

5,826

3,955

2,654

1,850

854

407

423

351

5,505

4,764

3,846

2,723

2,385

1,842

1,338

Goodwill and Intangible Assets

- -

703

466

405

356

1,427

6,020

14,594

11,358

10,311

8,113

7,287

4,936

3,524

608

11,522

11,059

10,098

8,919

8,582

8,016

7,339

Investments

- -

892

895

917

986

1,108

1,063

1,182

1,482

1,390

1,385

1,513

1,568

1,507

2,093

Tax Assets

- -

769

934

844

819

1,068

2,270

2,751

2,158

2,135

2,392

1,655

1,223

3,290

2,861

5,993

5,497

5,632

5,744

2,225

1,446

4,060

Other Non-Current Assets

- -

2,594

1,454

954

910

711

1,053

905

279

144

140

153

268

134

136

4,342

5,215

5,198

5,742

6,418

9,089

7,406

Total Non-Current Assets

- -

6,034

4,822

4,282

3,961

5,320

12,136

21,177

17,361

16,025

13,916

11,968

8,313

8,878

5,541

25,423

25,384

24,367

25,021

21,954

23,250

24,015

Other Assets

- -

Total Assets

- -

24,517

30,058

30,711

26,388

29,852

54,944

55,467

51,170

52,343

46,867

39,515

34,625

25,480

22,726

47,204

49,212

45,322

43,862

44,200

45,528

45,477

Accounts Payable

- -

3,105

3,668

3,616

4,135

4,925

10,337

7,322

7,087

8,163

7,161

5,797

2,532

2,798

2,074

3,975

4,794

5,474

4,244

3,876

4,182

5,009

Short-Term Debt

- -

396

592

291

446

326

1,565

5,032

1,104

1,387

1,750

610

4,640

140

55

389

371

1,140

618

916

342

436

Tax Payable

- -

1,083

1,094

923

825

1,047

1,003

751

612

641

626

196

Deferred Revenue

- -

2,977

1,599

2,213

2,017

3,341

4,214

2,911

3,259

3,113

2,783

5,926

Other Current Liabilities

- -

5,340

6,145

6,890

6,862

8,160

15,828

16,169

13,555

13,917

13,670

8,857

9,623

2,742

1,969

4,500

4,906

5,900

4,781

5,817

5,823

1,960

Total Current Liabilities

- -

8,841

10,405

10,797

11,443

13,411

27,730

28,523

21,746

23,467

22,581

19,324

19,488

8,816

6,941

13,252

15,288

16,176

13,514

14,364

13,756

13,528

Long-Term Debt

- -

196

- -

26

25

91

296

1,206

6,346

5,675

5,138

6,712

4,517

3,116

2,197

3,845

4,147

3,243

5,331

7,005

6,094

5,408

Deferred Revenue

- -

1,903

1,341

1,231

2,644

2,160

1,715

1,253

749

236

Deferred Tax Liabilities

- -

217

303

242

179

271

1,407

2,505

1,866

1,367

1,036

924

268

39

66

424

495

401

437

318

321

352

Other Non-Current Liabilities

- -

71

109

129

114

162

174

97

94

118

98

91

1,199

1,119

752

6,402

7,183

5,713

5,601

5,939

4,756

3,263

Total Non-Current Liabilities

- -

484

412

397

318

524

1,877

3,808

8,306

7,160

6,272

7,726

5,983

6,177

4,356

11,902

14,470

11,517

13,084

14,515

11,920

9,259

Other Liabilities

- -

Capital Lease Obligations

- -

1,155

1,111

1,147

1,103

Total Liabilities

- -

9,326

10,817

11,194

11,761

13,935

29,607

32,331

30,052

30,627

28,853

27,050

25,471

14,993

11,297

25,153

29,757

27,693

26,598

28,879

25,677

22,787

Preferred Stock

- -

Common Stock

- -

301

362

379

315

325

359

344

352

- -

325

338

298

267

259

295

282

276

300

280

261

Retained Earnings

- -

12,257

17,534

18,649

15,567

14,681

20,268

16,384

14,507

14,048

10,144

5,271

3,548

5,698

6,819

3,772

1,376

(1,218)

(1,808)

(5,060)

(2,884)

1,456

Other Compreh. Income(Loss)

- -

135

10

(78)

(126)

(63)

4,616

5,198

4,456

5,337

5,272

5,282

4,988

5,086

4,687

17,559

18,927

18,439

18,628

19,872

22,223

20,715

Other Total Stockhold. Equity

- -

2,317

1,129

340

(1,372)

853

(3,655)

(2,017)

(576)

(140)

(47)

(241)

16

(664)

(367)

(465)

(1,239)

32

84

111

116

- -

Total Stockholders Equity

- -

15,010

19,035

19,290

14,384

15,796

21,588

19,910

18,739

19,244

15,370

10,636

8,890

10,417

11,406

21,125

19,359

17,535

17,179

15,224

19,735

22,592

Total Liab.&Stockhold. Equity

- -

24,335

29,852

30,483

26,145

29,731

51,195

52,242

48,791

49,872

44,223

37,686

34,361

25,410

22,703

46,278

49,116

45,228

43,777

44,102

45,412

45,378

Minority Interest

- -

Total Liabilities & Equity

- -

24,335

29,852

30,483

26,145

29,731

51,195

52,242

48,791

49,872

44,223

37,686

34,361

25,410

22,703

46,278

49,116

45,228

43,777

44,102

45,412

45,378

SEC Link

Link

Cash Flow Statement

Net Income

397

706

1,153

1,960

2,604

5,459

1,964

3,554

4,514

4,345

4,280

5,683

10,528

5,589

1,276

2,475

(1,507)

(4,098)

(845)

4,188

2,680

(975)

(1,749)

(384)

12

(3,073)

1,870

4,510

Depreciation and Amortization

- -

484

509

595

672

953

1,277

1,378

1,430

1,176

843

940

1,762

2,266

2,554

2,369

2,022

1,750

1,001

359

348

1,676

1,909

1,669

1,861

1,383

1,245

1,207

Deferred Income Tax

- -

1,511

551

(1,550)

367

(451)

1,124

73

157

3,974

310

(2,150)

Stock Based Compensation

- -

23

63

23

17

77

45

53

119

110

78

91

93

123

- -

Change in Working Capital

(1,217)

648

162

(527)

(21)

(1,301)

873

1,004

(256)

406

(433)

(1,046)

884

(3,567)

200

3,143

(826)

162

(1,299)

1,395

(1,084)

(2,320)

716

(1,082)

(2,004)

(867)

(305)

(1,952)

Accounts Receivable

- -

1,714

177

2,692

2,275

139

(753)

19

(505)

282

178

- -

Inventory

- -

674

(132)

(121)

(365)

(398)

387

255

(52)

(261)

(356)

111

(358)

450

916

(685)

374

933

265

(559)

370

560

(355)

(624)

319

675

(55)

(1,049)

Accounts Payable

- -

Other Working Capital

- -

(2,431)

2,091

(1,377)

- -

Other Non-Cash Items

674

(37)

56

(60)

(120)

(1,794)

1,729

175

902

(43)

214

333

(1,656)

193

596

(1,663)

1,759

191

614

(2,895)

(1,814)

423

62

58

321

639

(259)

(55)

Cash Provided by Operating Activities

(146)

1,800

1,879

1,968

3,135

3,316

5,843

6,110

6,590

5,884

4,904

5,910

11,518

4,480

4,649

6,387

1,472

(467)

99

1,542

551

(1,529)

2,172

413

437

2,148

2,984

1,561

CAPEX

(750)

(585)

(710)

(977)

(1,316)

(1,493)

(929)

(454)

(543)

(742)

(718)

(1,025)

(1,274)

(1,429)

(799)

(908)

(773)

(608)

(559)

(376)

(341)

(501)

(721)

(771)

(773)

(585)

(637)

(636)

Acquisitions Net

- -

(180)

(378)

(117)

(11)

(9)

- -

(109)

(701)

369

(8,297)

60

4

(1,051)

3

(98)

2,831

2,702

6,134

(504)

(56)

21

(114)

(38)

(21)

Purchases of Investments

- -

(9)

- -

(288)

(104)

(355)

(14,504)

(8,716)

(4,364)

(7,231)

(1,141)

(5,140)

(12,503)

(5,728)

(2,326)

(1,476)

(3,690)

(3,836)

(4,420)

(3,398)

(2,579)

(732)

(1,481)

(2,185)

(3,929)

Sales/Maturities of Investments

- -

6

- -

182

170

479

14,954

11,423

6,699

7,286

6,554

2,655

10,136

9,447

3,269

983

2,221

3,552

5,911

4,554

2,944

1,272

299

767

2,590

Other Investing Activities

536

(80)

166

67

141

(296)

(1,239)

(513)

34

(154)

302

720

(188)

242

(650)

(876)

(728)

(205)

(359)

86

(18)

62

82

101

25

28

51

5

Cash Used for Investing Activities

(214)

(665)

(548)

(910)

(1,355)

(2,167)

(2,391)

(913)

(394)

(446)

2,182

1,328

(1,038)

(4,071)

(3,076)

(3,239)

1,940

742

(950)

1,072

2,059

7,187

12

(361)

(187)

(1,853)

(2,041)

(1,991)

Debt Repayment

- -

(299)

(8)

(66)

(351)

(1,361)

(3,376)

(86)

(2,837)

(2,502)

(36)

(1,106)

(586)

(1,311)

(232)

Common Stock Issued

- -

13

126

153

68

69

171

29

- -

2

61

1,442

74

- -

1

- -

Common Stock Repurchased

- -

(19)

(18)

(1,703)

(3,588)

(5,039)

(4,449)

(5,581)

(4,373)

- -

(517)

(188)

(227)

(987)

- -

(318)

Dividends Paid

(179)

(195)

(196)

(436)

(603)

(949)

(1,246)

(1,417)

(1,731)

(1,914)

(1,812)

(2,050)

(2,572)

(2,870)

(2,214)

(2,032)

(1,988)

(996)

(98)

(1,684)

(556)

(1,593)

(1,164)

(1,240)

(639)

(181)

(10)

(374)

Other Financing Activities

319

(225)

(304)

237

(148)

(321)

(496)

(396)

(88)

(348)

257

(116)

1,111

5,004

1,516

820

632

734

803

41

195

(518)

2,555

164

1,208

1,845

(57)

37

Cash Used/Provided by Financing Activities

140

(420)

(487)

(73)

(598)

(1,202)

(1,691)

(1,660)

(3,493)

(5,850)

(6,591)

(6,554)

(5,600)

(2,165)

(997)

(1,219)

(1,423)

(614)

(656)

(5,536)

(634)

(5,176)

(2,098)

(1,111)

(537)

1,078

(1,378)

(886)

Effect of Forex Changes on Cash

- -

(38)

(171)

(229)

(31)

217

(67)

(22)

(68)

(36)

300

139

(36)

(307)

(58)

7

45

(240)

(211)

(106)

(116)

151

20

Net Change In Cash

140

715

845

985

1,180

(52)

1,723

3,366

2,475

(443)

711

616

4,858

(1,824)

541

2,229

2,128

(375)

(1,813)

(2,979)

1,982

528

(154)

(1,271)

(393)

1,258

(283)

(1,296)

Cash at the End of Period

- -

1,633

2,256

3,373

4,202

3,953

5,456

9,804

14,225

3,328

3,619

4,652

10,010

7,775

8,485

10,157

11,956

11,811

10,492

6,254

7,597

7,882

8,840

7,181

6,625

8,476

7,606

5,790

Cash at the Beginning of Period

1,178

918

1,411

2,388

3,022

4,006

3,733

6,438

11,750

3,772

2,908

4,036

5,152

9,599

7,944

7,928

9,828

12,186

12,305

9,234

5,615

7,354

8,993

8,452

7,019

7,218

7,889

7,086

Free Cash Flow

(896)

1,215

1,169

992

1,819

1,823

4,913

5,656

6,047

5,142

4,186

4,885

10,244

3,051

3,850

5,479

699

(1,075)

(460)

1,166

210

(2,030)

1,452

(358)

(336)

1,563

2,347

925

SEC Link

Link

Forex Rate

1.28

1.25

1.10

1.17

1.01

0.94

0.89

1.05

1.26

1.36

1.18

1.32

1.46

1.40

1.43

1.34

1.29

1.32

1.37

1.21

1.09

1.05

1.20

1.15

1.12

1.22

1.14

1.06

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