Nokia Oyj

NOK

Financial Statements

Income Statement (Annual)

Amounts in millions

2024

12/31/2024

Revenue

20,950

Cost of Revenue

11,288

Gross Profit

9,662

Gross Margin

46.1%

Operating Income

2,179

Operating Margin

10.4%

Net Income

1,392

Net Margin

6.6%

EPS (Basic)

$0.23

EPS (Diluted)

$0.23

EBITDA

3,741

EBITDA Margin

17.9%

2023

12/31/2023

Revenue

23,040

Cost of Revenue

13,559

Gross Profit

9,469

Gross Margin

41.1%

Operating Income

1,810

Operating Margin

7.9%

Net Income

725

Net Margin

3.1%

EPS (Basic)

$0.12

EPS (Diluted)

$0.12

EBITDA

3,124

EBITDA Margin

13.6%

2022

12/31/2022

Revenue

27,153

Cost of Revenue

16,011

Gross Profit

11,142

Gross Margin

41.0%

Operating Income

2,527

Operating Margin

9.3%

Net Income

4,633

Net Margin

17.1%

EPS (Basic)

$0.76

EPS (Diluted)

$0.75

EBITDA

3,865

EBITDA Margin

14.2%

2021

12/31/2021

Revenue

24,200

Cost of Revenue

14,571

Gross Profit

9,629

Gross Margin

39.8%

Operating Income

2,352

Operating Margin

9.7%

Net Income

1,769

Net Margin

7.3%

EPS (Basic)

$0.29

EPS (Diluted)

$0.29

EBITDA

2,917

EBITDA Margin

12.1%

2020

12/31/2020

Revenue

23,819

Cost of Revenue

14,888

Gross Profit

8,930

Gross Margin

37.5%

Operating Income

965

Operating Margin

4.0%

Net Income

-2,750

Net Margin

-11.5%

EPS (Basic)

$-0.45

EPS (Diluted)

$-0.45

EBITDA

2,098

EBITDA Margin

8.8%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2024	2023	2022	2021	2020
Revenue	20,950	23,040	27,153	24,200	23,819
Cost of Revenue	11,288	13,559	16,011	14,571	14,888
Gross Profit	9,662	9,469	11,142	9,629	8,930
Gross Margin	46.1%	41.1%	41.0%	39.8%	37.5%
Operating Income	2,179	1,810	2,527	2,352	965
Operating Margin	10.4%	7.9%	9.3%	9.7%	4.0%
Net Income	1,392	725	4,633	1,769	-2,750
Net Margin	6.6%	3.1%	17.1%	7.3%	-11.5%
EPS (Basic)	$0.23	$0.12	$0.76	$0.29	$-0.45
EPS (Diluted)	$0.23	$0.12	$0.75	$0.29	$-0.45
EBITDA	3,741	3,124	3,865	2,917	2,098
EBITDA Margin	17.9%	13.6%	14.2%	12.1%	8.8%