(CercleFinance.com) – Nokia says it expects not to achieve its revenue, comparable operating margin and FCF targets for 2023, as discussions on the renewal of licenses for its Nokia Technologies division were unsuccessful. before the end of the past year.
Although there were intense negotiations between the parties and the courts ruled in its favor, the group explains ‘giving priority to protecting the value of its patent portfolio rather than respecting certain resolution times’.
The Finnish network equipment manufacturer nevertheless plans to reach agreements during the coming year, which will therefore benefit its financial performance in 2024 (including associated catch-up payments).
Regarding its network activities, Nokia estimates that turnover should improve significantly sequentially in the fourth quarter of 2023, a quarter which however proved to be ‘a little more difficult than expected’.
“The profitability of Nokia’s network activities should, however, remain firmly within the comparable operating margin assumptions that the company had previously communicated,” adds the group, which also confirms its initial assumptions for 2024.
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