Nokia-Gewinnwarnung!
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(June 12, 2001)
During the first half of this year, Nokia has continued to perform strongly in the global mobile communications market and has been able to strengthen its leading market position. However, the general economic slowdown in the US has recently shown signs of extending to other regions and to the wireless telecommunications industry as a whole.
"We have been able to successfully follow our set strategy of increasing market share in phones and heading for the leadership position in third generation mobile networks," says Jorma Ollila, Chairman and CEO of Nokia. "However, we have recently seen a weakening in market conditions to levels below our earlier estimates. We believe that this slowdown is a result of a general market deterioration - driven by economic uncertainty, the ongoing technology transition and less aggressive marketing by the operators.`
Nokia now estimates the global mobile phone market to show only very modest growth this year compared to 2000, when about 405 million phones were sold. During the second half of 2001, the company estimates that the market will be significantly larger than during the first half. The slower growth is expected to affect capacity-driven network investments of some operators for the time being. While it will also lead to slower-than-anticipated growth in Nokia`s sales, the company believes that its mobile phone business will continue to grow significantly faster than the market during 2001, and that its network business will achieve an annual growth rate at least on par with overall market growth.
Nokia also expects weaker market conditions to impact its financial performance during the second quarter. Based on the first two months of the current quarter, the company estimates year-on-year sales growth for the second quarter 2001 to be somewhat below 10% compared with its earlier estimate of 20%. Diluted pro forma EPS is estimated to be in the range of EUR 0.15-0.17 in the second quarter 2001, compared with the previous estimate of approximately EUR 0.20. In the second quarter 2000, Nokia`s diluted pro forma EPS was EUR 0.21. Backed by the company`s ongoing excellent working capital management and healthy profitability, Nokia expects to continue to see strong positive cash flow in the second quarter.
Nokia is currently revisiting its outlook for the second half of the year, as the market slowdown is expected to continue having an adverse effect. Updated estimates for the second half of 2001 will be released on July 19 in conjunction with the company`s second quarter earnings release.
Nokia will continue to take determined actions in all areas of the business to align its operations with the changing market conditions. Previously announced moves to increase the company´s efficiency and competitiveness include operational changes to further enhance customer focus in Nokia Networks, a refocus of production at Nokia Mobile Phones factories in Texas (US) and Bochum (Germany), and the re-alignment of Nokia Internet Communications. The financial impact of these actions will negatively affect Nokia`s reported operating profit in the second quarter 2001 in the form of a one-time charge of approximately EUR 190 million, which will include restructuring charges, as well as goodwill write-offs at Nokia Internet Communications.
"While market deterioration has had an inevitable impact on Nokia`s sales growth, our products have remained strong, our market position has strengthened and we`ve been able to find further efficiencies through tight control of our own performance. As a result, Nokia has been able to maintain a high level of profitability,` says Jorma Ollila.
"We have intensified our efforts to counter changing market conditions by accelerating ongoing programs and generating efficiencies and cost savings. This, in combination with our current financial health and proven performance, should enable us to exit the current slowdown in a stronger position than before. We will, together with our operator customers, continue the implementation of the new technologies with full speed in order to support the transition into next generation services."
It should be noted that certain statements herein which are not historical facts, including, without limitation those regarding 1) the timing of product deliveries; 2) the Company´s ability to develop and implement new products and technologies; 3) expectations regarding market growth and developments; 4) expectations for growth and profitability; and 5) statements preceded by "believes", "expects", "anticipates", "foresees", or similar expressions, are forward-looking statements. Because such statements involve risks and uncertainties, actual results may differ materially from the results currently expected by the Company. Factors that could cause such differences include, but are not limited to 1) industry conditions, such as the strength of product demand, the intensity of competition, pricing pressures, the acceptability of new product introductions such as Internet-ready phones, the introduction of new products by competitors, the impact of changes in technology, including the Company`s success in the emerging 3G market, the introduction and marketing of new products and services by operators, the ability of the Company to source components from third parties without interruption and at reasonable prices, demand for vendor financing and the Company`s ability and willingness to provide such financing, and the success and financial condition of the Company´s strategic partners and customers; 2) operating factors, such as continued success of manufacturing activities and the achievement of efficiencies therein, continued success of product development or inventory risks due to shifts in market demand; 3) general economic conditions, such as the rate of economic growth in the Company`s principal geographic markets and in the wireless telecommunications industry as a whole, or fluctuations in exchange rates, including impact of the exchange rate between the euro and the US dollar; as well as 4) the risk factors specified on pages 21 to 23 of the Company`s Form 20-F for the year ended December 31, 1999.
Further information:
Nokia
Corporate Communications, Finland
Tel. +358 7180 34424
Investor Relations, Finland
Tel.+ 358 7180 34289
Investor Relations, USA
Tel. +1 972 894 4880
"Mag sein, daß Intel einen goldenen Herbst vor Augen hat, doch wir (Nokia) sehen keine Anzeichen einer Erholung."
Die Warnung folgte nun paar Tage danach.
Balda kriegt gleich eins mit aufs Mützle!
Gr.Gr.
Optionen
| Boardmail an "Gruenspan" |
Wertpapier: Nokia Oyj |
Die aktuelle Gewinnwarnung von Nokia für das zweite Quartal drückt auf
das bereits schlechte Sentiment am Neuen Markt. Nokia hat die
Gewinnschätzung auf 0,15 bis 0,17 EUR nach bisher 0,20 EUR zurückgenommen.
Bis 14.30 Uhr fällt der Nemax-50 um 4,4 Prozent oder 72,52 auf 1.570,45
Zähler. +++ Manuel Priego Thimmel
vwd/12.6.2001/mpt/reh
mfg Fips17
Optionen
| Boardmail an "lackilu" |
Wertpapier: Nokia Oyj |
Morgen noch billiger?
.. bei der letzten Gewinnwarnung im letzten Jahr war es genau so!!
Komisch nur vor wenigen Wochen war alles von Seiten Nokia´s noch in Ordnung
man konnte fast annehmen, daß sie sich von den Problemen der restlichen Welt abnabeln könnten - nunmehr hat sie die Realität eingeholt.
Bin gespannt wann die ersten downgrades kommen.
Und genau jene werden in ein paar Wochen Nokia wieder zum STRONG BUY empfehlen
Frust
Sutti
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Beachtenswert ist, was sich bei Nokia tut. Das ist zwar kein deutscher Titel, aber er liegt in fast jedem deutschen Depot. Der Rückfall auf 34,60 E. erweitert das Risikopotential nach unten bis auf 28 oder sogar 27 E. Der Tiefstkurs lag bei 23,40 E. Meine Meinung zu Nokia kennen Sie: Der Weltmarktführer ist ein exzellenter Handy-Hersteller, aber mit einem Börsenwert von 163 Mrd E., für einen Umsatz von voraussichtlich 34 Mrd E., noch immer extrem teuer. Darin liegt das Risiko. Ich setze auf die
Gegenseite und beschreibe dies in der nächsten AB auf S. 8.