Nokia Corporation Financial Report for Q2 and Half Year -


nokia q2 2019

Nokia announced its Q2 earnings on July 25, Our earnings materials, including the earnings statement, investor call presentation and financial tables in Excel format can be found here. SEC Filings. Filings related to the Alcatel-Lucent transaction. Order financial reports. Jul 22,  · Nokia (NYSE:NOK) is expected to publish its Q2 results on July 25, reporting on a quarter that likely saw the company’s networking business gain some traction driven by commercial 5G Author: Trefis Team. Jul 25,  · The following slide deck was published by Nokia Corporation in conjunction with their Q2 earnings call. Download PDF Click to enlarge Notes: The following slide deck was published by.

Nokia Corporation (NOK) Q2 Earnings Call Transcript | The Motley Fool

Image source: The Motley Fool. I would now like to turn the conference over to Mr. Matt Shimao, Head of Investor Relations, nokia q2 2019. Sir, you may begin. Matt Shimao -- Head of Investor Relation. During this call, we'll be making forward-looking statements regarding the future business and financial performance of Nokia and its nokia q2 2019. These statements are predictions that involve risk and uncertainties.

Actual results may therefore differ materially from the results we currently expect. Factors that could cause such differences can be both external, such as general economic and industry conditions as well as internal operating factors. We have identified such risk in more detail on Pages 60 through 75 of our Annual Report on Form F, our financial report for Q2 issued today as nokia q2 2019 as our other filings with the U.

Securities and Exchange Commission. Please note that our results release, the complete interim report with tables and the presentation on our website include non-IFRS results information in addition to the reported results information.

Our complete financial report with tables available on our website includes a detailed explanation of the content of the non-IFRS information and the reconciliation between the non-IFRS and the reported information. With that, Rajeev, over to you. Thanks, Matt, and thanks to all of you for joining nokia q2 2019. Nokia's second quarter results showed a sharp rebound from our weak Q1 with robust growth and improving profitability. When we announced our first quarter results, we nokia q2 2019 we expected meaningful progress over the course of the year.

And I can say that we delivered that progress in Q2 with good operational execution and momentum in the implementation of our strategy. As we adapt the opportunities to grow, we maintained our disciplined and enhanced profitability. Pleasingly, our 7. The main area of disappointment in the quarter was our cash position, nokia q2 2019, although our performance was not totally unexpected given the large outflows for shareholder dividends, incentive payments and restructuring.

Kristian and I will both talk about this subject in greater detail. Our fixed networks business is undergoing a transition and that caused some challenges as well. I will also come back to this near the close of my remarks. In addition to these issues, I would like to cover 4 other topics today. Let me start with 5G, where we continue to win new deals and improve our product competitiveness.

We now have 45 commercial 5G deals and are operational in 9 live 5G networks. We also started to recognize 5G revenue in the second quarter, including in North America and expect that recognition to continue to build in the second half of the year. As we sell 5G Radio to customers, we are taking the opportunity to sell other things as well. Pleasingly, nokia q2 2019, around half of our 5G Radio wins contain additional Nokia products, demonstrating the power of our end-to-end portfolio.

As you know, in earlier calls, I commented on our 5G Radio roadmaps and while our progress is both fast and meaningful, we still have work to do.

Customers in lead markets like the United States, Korea and Japan are moving fast, and we are working night and day to be there for them. This matters because for 5G non stand-alone, the variant that is being rolled out today, you need a strong 4G layer to deliver high performance. Nokia has that performance, nokia q2 2019. For the first half ofnokia q2 2019, RootMetrics, an independent network testing company, nokia q2 2019, once again gave us the highest nokia q2 2019 for 4G network performance across the U.

This is not just a theoretical benefit. It is something that is helping us win in 5G. In addition to this nokia q2 2019 conversion rate, we expect to gain share with some of these customers, improving our 5G footprint compared to 4G. This progress is just the nokia q2 2019, as we have over customers to help transition to 5G over the to year investment cycle, nokia q2 2019.

From a broader market perspective, it is clear that 5G is moving well beyond just capacity focused hotspot and campus networks for enterprises. Yes, nokia q2 2019, nokia q2 2019 will be important for both our operator and enterprise customers, but nationwide coverage will also come.

And you will see 5G deployments that use low, mid- and high-band spectrum. In Korea, for example, 5G that blankets the entire country will be a reality very soon. In the United States, to provide another example, it will take a bit longer to get to full coverage as the mid-band spectrum that will complement the low and high bands already allocated has not yet been made available, but there is no doubt that it will come.

While there's a lot of nokia q2 2019 talk today and no shortage of activity, some of you may recall the 5G maturity index that we commissioned from Analysys Mason and that I shared at Mobile World Congress earlier this year. That study made 2 things very clear. First, that many countries will move fast to deploy 5G. We are seeing that process under way today. Second, that wider adoption would take longer. We're also seeing this play out today, nokia q2 2019, which is a good thing.

It gives vendors time to be ready to deploy at massive volumes and ensures that a stable overall ecosystem will be fully in place. So to recap here, nokia q2 2019, Nokia has a solid position in the early stages of 5G with our win rate and deployments, nokia q2 2019, our 4G performance and deep customer base give us confidence about the opportunities to come and given the expected timing of large scale deployments as 5G moves beyond the lead countries, Nokia will be ready to support our customers at scale.

Switching to the second point I want to make today. In earlier calls, I've talked about what we are calling the virtuous circle of investment as operators and enterprises move to upgrade their network to take full advantage of 5G. That circle is very much under way today, nokia q2 2019. We see customer spending now to be ready for 5G, but also to avoid investments in both radio and transport nokia q2 2019 at the same nokia q2 2019. This benefits both our IP routing and optical networks businesses.

Much of this was driven by our highly competitive routing portfolio and the fact that our FP4 based products are nokia q2 2019 shipping in volume. We now have more than FP4 projects and more than 70 of those represent new footprint for us. In almost 30 cases, nokia q2 2019, we have displaced a competitor at some of the world's largest operators, data center providers and enterprises, pretty impressive.

With our new PSE-3 based products starting to ship in Q3, we will also, once again, leapfrog the competition. Turning to our strategic efforts to build a strong scalable software business and nokia q2 2019 into structurally attractive enterprise adjacencies, I'm pleased to say our progress was very good in the second quarter.

As you will recall, we have 2 different parts of Nokia Software, Applications and Core. Apps is delivering solid progress based on the improvements we have made to develop our products on a cloud native common software foundation and our investments in creating a strong stand-alone software sales organization. As Core is now fully integrated into Nokia Software, it is in the midst of a portfolio modernization and sales transformation similar to that of the Apps business.

Our approach to cloud native is fundamentally different from and well ahead of what others in our sector are doing. The demands of 5G and digital services are such that you cannot just evolve all applications. Rather, we have rewritten from scratch our integrated software suite for 5G to be cloud native, multi-network and multi-vendor.

In addition, it is optimized for the leading cloud platforms, including Amazon, Microsoft and Google. Based on the quality of our work, our software portfolio is getting considerable external recognition, nokia q2 2019, putting us in a strong position to gain share in the future. Turning to enterprise. We also expanded sales to new enterprise customers with 32 additions in the second quarter, nokia q2 2019.

One area where we see opportunity continuing to grow is private wireless, where we have won more than 80 deals. Private wireless is increasingly seen as a foundational industry 4. Companies in verticals like utilities, transportation and logistics as well as the public sector need large-scale field networks. Railways need future communication systems to replace aging GSM-R technology, factories, mines, nokia q2 2019, airports and other enterprises need high-performance wireless campus networks.

Overall, the need is large and diverse, and it cannot be met with a box sell approach. These enterprises, after all, are not like our service provider customers. Networking is not their core business, and they are looking for a partner who can deliver a full end-to-end turnkey solution.

Nokia is an ideal of nokia q2 2019 partner with the right solutions that span our full portfolio. You can see that in work that we're already doing, nokia q2 2019. For example, energy company, Electro, in Brazil is using our full suite of customer premises equipment, radio, packet core and management products, along with services to help them roll out private LTE for automating and managing their electrical grid. And our work with Telefonica Peru to deliver a private wireless network for Minera Las Bambas, one of the world's largest copper mines.

The third point I want to make is about cash. Yes, our cash performance was challenging in the quarter. No denial about that, but there is some context that must be understood. In particular, we expected the majority of what occurred, given roughly EUR million used for our annual employee incentives, quarterly dividend payment and restructuring. We also had some expected inventory builds in order to deliver on customer demand for 5G network deployments.

Then we did have unexpected issues, including some normal business that came very late in the quarter and that we could not immediately convert to cash, nokia q2 2019. We expect that conversion to happen in second half. Collection of a large receivable from a state-owned operator was also delayed, although we expect nokia q2 2019 to start to flow later this year.

Despite that context, however, I remain unhappy with our overall working capital performance. We have a clear view of what needs to be done to get back on track and have put in place a more structured program to improve results.

The last point I want to make is about our expectations for In Q2, we made progress in delivering on our targets, but at the same time, risks remain. Those risks include the execution demands of a very nokia q2 2019 second half of the year with particular intensity in the fourth quarter, trade-related uncertainty, challenges in China related to a clear preference for local vendors and pressure on profitability that could cause us to limit our participation in that market and the potential of an overall increase in competitive pressure.

At this point, we expect that the pattern for the full year will reflect slower first and third quarters and more robust second and fourth quarters. Then just a brief comment on our EUR million cost savings program, which is well on track. In addition to taking the committed costs out, nokia q2 2019, our focus is on becoming a better, more productive company for the long term.


Reports & filings | Nokia


nokia q2 2019


Jul 25,  · Nokia Corporation (NYSE:NOK) Q2 Results Earnings Conference Call July 25, AM ET Company Participants. Matt Shimao - Head, Investor Relations. Rajeev Suri - . Jul 25,  · The following slide deck was published by Nokia Corporation in conjunction with their Q2 earnings call. Download PDF Click to enlarge Notes: The following slide deck was published by. Nokia Corporation (NOK) Q2 Earnings Call Transcript NOK earnings call for the period ending June 30, Motley Fool Transcribers (MFTranscribers) Jul 31, at AM In Q2 , we Author: Motley Fool Transcribers.