Nokia reported Q3 2025 growth with mixed profitability. Reported net sales were EUR 4,828 million, up 12% year over year. On a comparable basis, net sales rose 12% and 9% in constant currency and portfolio terms. Group gross margin declined 150 bps to 43.7%, and reported operating profit fell 14% to EUR 239 million. Diluted EPS was EUR 0.01 versus EUR 0.03 a year ago. Comparable operating profit was EUR 435 million, down 10%, with comparable EPS at EUR 0.06, flat year over year.
All business groups grew on a comparable basis. Reported net sales by segment: Network Infrastructure EUR 1,953 million (+28%); Mobile Networks EUR 1,842 million (-1%); Cloud and Network Services EUR 645 million (+8%); Nokia Technologies EUR 391 million (+11%).
Nokia revised its comparable operating profit outlook to EUR 1.7–2.2 billion, a EUR 0.1 billion technical increase due to moving venture fund results to financial income and expenses; operational outlook is unchanged. Free cash flow conversion is targeted at 50%–80%. The Board’s remaining distribution authorization is a maximum of EUR 0.03 per share. Net cash and interest‑bearing financial investments were EUR 3,001 million.
Nokia Corporation reported a routine change in its own shares related to employee incentives. The company transferred a total of 536,655 Nokia shares held in treasury, without any cash consideration, to participants in its equity-based incentive plans, in line with previously approved plan rules and a Board resolution announced on 22 November 2024. After this transfer, Nokia holds 150,373,657 of its own shares. The update does not involve a public offering, but reflects share-based compensation to employees and other plan participants.
Nokia Corporation is increasing its share capital to support future employee and incentive plans. The Board of Directors approved the issue of 120,000,000 new Nokia shares in a directed issuance without consideration to Nokia itself, to be used to meet obligations under equity plans that vest in 2025, 2026 and 2027. After registration, the total number of Nokia shares will be 5,575,850,345.
The new shares are expected to start trading on Nasdaq Helsinki on 3 October 2025 and on Euronext Paris on 6 October 2025, together with existing shares. The Board also approved a directed issuance of up to 120,000,000 treasury shares to fulfill commitments under Nokia’s Employee Share Purchase Plan 2024–2026, its Long-Term Incentive Plans 2021–2023 and 2024–2026, and assumed awards from Infinera Corporation’s 2016 Equity Incentive Plan, with deliveries to participants spread across 2025–2027.
Nokia is reorganizing its leadership by creating a Technology and AI Organization (TAO) and a Corporate Development Organization (CDO) to strengthen technology innovation and business development. The company announced two external hires who will join its Group Leadership Team on 1 October 2025: Pallavi Mahajan as Chief Technology and AI Officer and Konstanty Owczarek as Chief Corporate Development Officer.
The report also states that Nishant Batra will step down as Chief Strategy and Technology Officer and leave the Group Leadership Team effective 30 September 2025. Contact details for Nokia Communications and investor relations are provided, and the notice is signed by Johanna Mandelin, Vice President, Corporate Legal.
Nokia Corporation reports that it has transferred a total of 135 830 of its own shares to participants in its equity-based incentive plans. The shares were transferred without consideration, meaning employees received them as part of compensation rather than purchasing them. This transfer follows an earlier Board of Directors resolution announced on 22 November 2024 to use shares held by the company to settle commitments under these incentive plans.
After this transaction, Nokia holds 30 995 291 of its own shares. The update reflects routine use of treasury shares to meet obligations under long-term incentive programs designed to align employees’ interests with those of shareholders.
Nokia Corporation reports that it transferred 5,578,417 Nokia shares held by the company to participants in its equity-based incentive plans without consideration, in line with a prior Board resolution from 22 November 2024. These shares come from Nokia’s existing treasury stock and are used to settle commitments under the incentive programs.
After this transfer, Nokia holds 31,131,121 of its own shares. The filing also notes managers’ transactions showing that senior managers Patrik Hammarén and Tommi Uitto each received 323 Nokia shares as part of a share-based incentive, with the transactions carried out outside a trading venue.
Nokia Corporation filed a Form 6-K reporting several managers’ share dealings under Article 19 of the EU Market Abuse Regulation. On 14 August 2025, senior managers acquired Nokia shares on NASDAQ Helsinki (XHEL) with ISIN FI0009000681. Reported buyers include Patrik Hammarén (5 shares at €3.5762) and Tommi Uitto (6 shares at €3.5762). Raghav Sahgal acquired 3,108 shares at €3.5793, Louise Fisk 303 shares at €3.5793, and Nishant Batra 2,864 shares at €3.5793. All transactions are classified as share acquisitions by “other senior managers” of Nokia.
Nokia Corporation filed a report describing a managers’ transaction under EU Market Abuse Regulation. On 12 August 2025, senior manager David Heard acquired 816 Nokia shares on the New York Stock Exchange at a unit price of 4.09417 USD, with the same figure disclosed as the volume‑weighted average price. This transaction increases his personal shareholding and is disclosed to provide transparency about trading by Nokia’s senior management.