Summary by Moomoo AI
Nokia Corporation reported annual financial results for the fiscal year ended December 31, 2023. The company's net sales decreased by 11% year-on-year to EUR 22.3 billion. Operating profit was EUR 1.7 billion, representing a 27% decrease from the previous year, with an operating margin of 7.6%. The net profit for the year was EUR 679 million, an 84% decline compared to 2022. The decrease in net profit was primarily due to a non-recurring tax expense related to an internal operating model change and the absence of a significant one-off benefit that positively impacted the previous year. Nokia's Board proposed a dividend distribution of EUR 0.13 per share from retained earnings and/or as assets from the reserve for invested unrestricted equity. The company's financial...Show More