Nokia Lowers Comparable Operating Margin Target To Be Achieved By 2026 - Quick Facts

(RTTNews) - Nokia (NOK) said the company has decided to lower comparable operating margin target to be achieved by 2026 from the prior at least 14% to at least 13%. Nokia believes 14% target remains achievable over the longer term. Nokia projects for both NI and CNS to grow faster than the market through 2026 while Mobile Networks will face challenges in 2024 and 2025 before returning to grow faster than the market in 2026. The company's other targets remain unchanged.

Nokia said it will provide a group financial outlook for the fiscal year 2024 with its fourth quarter results on 25 January 2024. Mobile Networks' net sales are projected to decline. However, MN assumes a low-single digit operating margin.

The company noted that the market environment for Mobile Networks remains challenging, but the rest of the business groups continue to make good progress towards their long-term targets.

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