Nokia Siemens Networks Remains Profitable in Q1

Nokia Siemens Networks delivered a strong financially and contributed to an overall improvement in Nokia Group's cash position despite the seasonally weak Q1.

Overall net sales for in Q1 2013 came it at EUR 2.804 billion, down 5% YoY and down 30% compared to Q4 2012.

In the first quarter 2013, Global Services represented approximately 51% of Nokia Siemens Networks net sales, compared to approximately 52% in the first quarter 2012 and approximately 50% in the fourth quarter 2012.

In the first quarter 2013, Mobile Broadband represented approximately 44% of Nokia Siemens Networks net sales, compared to approximately 41% in the first quarter 2012 and approximately 45% in the fourth quarter 2012.

Meanwhile, the parent company (Nokia Group) achieved operating profitability for the third consecutive quarter, with a Q1 non-IFRS operating margin of 3.1%.

Commenting on the results, Stephen Elop, Nokia CEO, said "At the highest level, we are pleased that Nokia Group achieved underlying operating profitability for the third quarter in a row....Nokia Siemens Networks delivered another strong quarter and contributed to an overall improvement in Nokia Group's cash position. On the other hand, our Mobile Phones business faces a difficult competitive environment, and we are taking tactical actions and bringing new innovation to market to address our challenges."

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