1、Report for Q2 and Half Year 2024Full year outlook reiterated in challenging environmentQ2 net sales declined 18%y-o-y in constant currency(-18%reported)primarily due to strong year-ago quarter in India.Submarine Networks business treated as discontinued operation.Positively,order intake trends conti

2、nued to improve,particularly in Network Infrastructure.Comparable gross margin in Q2 increased by 450bps y-o-y to 44.7%(reported increased 380bps to 43.3%),mainly driven by Mobile Networks,in part benefiting from the resolution of an outstanding contract negotiation.Q2 comparable operating margin de

3、creased 190bps y-o-y to 9.5%(reported up 110bps to 9.7%),mainly due to low net sales coverage of operating expenses which more than offset the Mobile Networks contract resolution.Q2 comparable diluted EPS of EUR 0.06;reported diluted EPS of negative EUR 0.03.Q2 reported EPS impacted by non-cash impa

4、irment charge of EUR514million related to Submarine Networks,presented as discontinued operation.Q2 free cash flow of EUR 0.4 billion,net cash balance EUR 5.5 billion.Buyback program planned to be accelerated.Significant progress with gross cost savings program,with EUR 400 million run-rate of savin

5、gs already actioned.Nokias full year 2024 outlook is unchanged.Nokia currently expects comparable operating profit of between EUR 2.3 billion and 2.9 billion and free cash flow conversion from comparable operating profit of between 30%and 60%.EUR million(except for EPS in EUR)Q224Q223YoY changeConst

6、ant currency YoY changeQ1-Q224Q1-Q223YoY changeConstant currency YoY changeReported resultsNet sales 4466 5438(18)%(18)%8910 11013(19)%(18)%Gross margin%43.3%39.5%380bps46.5%39.1%740bps Research and development expenses(1134)(1034)10%(2259)(2130)6%Selling,general and administrative expenses(715)(690