Nokia says revenue and margins to rise as turnaround gathers pace

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HELSINKI (Reuters) -Finnish telecoms gear maker Nokia stated on Thursday it expects its revenue to develop this yr and set the next goal for long-term earnings margins as the corporate’s restoration gathers pace after years of restructuring.

Nokia predicted its 2022 revenue will quantity to between 22.6 billion euros and 23.8 billion euros ($25.5 billion-$26.9 billion), up from 22.2 billion final yr. Analysts on common anticipated revenue of 23.06 billion, a Refinitiv ballot confirmed.

“Our long-term goal is to develop sooner than the market and to obtain a comparable working margin of not less than 14%,” Chief Executive Pekka Lundmark stated in an announcement.

The producer of 5G know-how and different community gear proposed a dividend of 0.08 euro per share for the 2021 monetary yr, the primary homeowners will obtain since a quarterly payout in mid-2019.

Nokia may also begin a share buyback scheme with an purpose to return 600 million euros of money to shareholders over a interval of two years.

($1 = 0.8850 euros)

(Reporting by Essi Lehto, modifying by Terje Solsvik)



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