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Nokia Q4 operating profit surged 45 percent

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Christian Fernsby ▼ | February 6, 2020
Nokia today reported a profit for the fourth quarter that more than doubled to 563 million euros from 203 million euros in the previous year quarter.
Nokia   Fourth quarter net sales were 6.90 billion euros
Operating profit surged 45 percent to 803 million euros from 552 million euros in the year ago period.

Topics: Nokia

Operating margin increased 360 basis points to 11.6 percent.

Fourth quarter net sales were 6.90 billion euros up slightly from 6.87 billion euros last year.

On a constant currency basis, net sales decreased 1 percent.

Excluding one time licensing net sales in both quarters, net sales for the quarter grew 1 percent, reflecting improved overall industry demand and particularly strong growth with enterprise customers, driven by increased demand for mission critical networking solutions.

Nokia said its board expects to resume dividend distributions after the company's net cash position improves to about 2 billion euros, taking into account Nokia's expected cash flow generation.

However, the company added that due to given typical cash seasonality, it would not expect to reach that level in the first three quarters of this year.

The Board will assess the possibility of proposing a dividend distribution for financial year 2020 in the event the company exceeds the billion euros level after that point.