The Nokia Group has posted a net profit of Euro 255 million for the fourth quarter of 2012, say news reports. The company?s net sales declined by close to 20 per cent to Euro 8.04 billion in the period under consideration, while the non-IFRS operating margin for its devices and services segment improved by 1.3 per cent quarter-on-quarter.
During the quarter, Nokia Siemens Networks? non-IFRS operating margin improved by 14.4 per cent quarter-on-quarter and year-on-year owing to an increase in gross margins. The Nokia Group achieved underlying operating profitability, with a full year 2012 non-IFRS operating margin of 0.4 per cent.
The Nokia Group ends 2012 with a strong balance sheet and cash position. Gross cash stood at Euro 9.9 billion and net cash was Euro 4.4 billion, after incurring cash outflows related to restructuring of approximately Euro 1.5 billion and dividend payment of approximately Euro 750 million.
The Nokia Group strengthened its net cash position by approximately Euro 800 million sequentially, of which approximately Euro 650 million was generated by Nokia Siemens Networks.
