Nokia Corporation (NYSE: NOK) has shared the update to its financial guidance for 2021 and comparable operating margin guidance for 2022. Nokia disclosed that it is anticipating surpassing 2021 financial guidance and offers operating margin guidance for 2022. Nokia confirmed that its underlying business performed exceptionally well as it projected.
Nokia now projects net sales of around €22.2bn within its earlier guidance of €21.7 to 22.7bn based on initial and unaudited financial results for 2021. It is expecting a comparable operating margin of 12.4 to 12.6% above its earlier guidance of 10 to 12%. Moreover, in the fiscal year 2021, the firm expects to gain from nearly 150 basis points of one-time benefits relating to venture fund investments.
In addition, Nokia is also proposing a new comparable operating margin guidance for the financial year 2022 of 11% to 13.5%. This new guidance deems projected continued enhancements in basic business, supply constraints, and cost inflation, with the year-on-year development also affecting significant one-offs seen in 2021.
Furthermore, Nokia is planning to disclose its fourth quarter and full-year 2021 financial results on Thursday 3 February 2022 when it will also reassess its longer-term outlook. The company has also confirmed that it will arrange a conference call with analysts and investors to discuss its Q4 performance and business outlook on 3 February 2022.