Nokia Down 24% ~ Ouch

5G … Say What

Non-IFRS FY19 EPS is expected at €0.21 (±€0.03) from the prior guidance of €0.25 – €0.29. Non-IFRS operating margin at 8.5% (±1%). Recurring free cash flow to be negative from slightly positive, implying net cash to €1.5B at the end of FY19.

FY20 non-IFRS EPS is expected in the range of €0.25 (±€0.05) from the prior guidance of €0.37 – €0.42. Non-IFRS operating margin at 9.5% (±1.5%).

The company will not distribute the third and fourth quarterly instalments of the dividend for the financial year 2018 to increase 5G investments, investments in growth in strategic focus areas of enterprise and software and strengthen Nokia’s cash position.

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