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Nokia provides recast comparative financial information reflecting the presentation of Fixed Wireless Access CPE and Enterprise Campus Edge businesses as discontinued operations
[July 23, 2026]

Nokia provides recast comparative financial information reflecting the presentation of Fixed Wireless Access CPE and Enterprise Campus Edge businesses as discontinued operations


Nokia Corporation
Stock Exchange Release
23 July 2026 at 8:15 EEST

Nokia provides recast comparative financial information reflecting the presentation of Fixed Wireless Access CPE and Enterprise Campus Edge businesses as discontinued operations

Nokia today provides recast comparative financial information for Nokia Group and its reportable segments for Q1 2026 and Q1-Q4 2025 reflecting the presentation of Fixed Wireless Access CPE and Enterprise Campus Edge businesses as discontinued operations.

Presentation of Fixed Wireless Access CPE and Enterprise Campus Edge businesses as discontinued operations

As part of the strategy work that led to Nokia's new strategy and reorganization of its business into two primary operating segments, Nokia identified several units which were not seen as core to the future of the company's strategy. These units were moved into a dedicated operating segment called Portfolio Businesses beginning from 1 January 2026 while the company continued to assess the best value creating opportunity for them. During Q2 2026, Nokia classified the Fixed Wireless Access CPE and Enterprise Campus Edge businesses included in the Portfolio Businesses segment as discontinued operations. This followed the agreement Nokia reached to sell its Fixed Wireless Access CPE business and its assessment that it is highly probable it will reach an agreement to sell Enterprise Campus Edge. Classification of these businesses as discontinued operations had also a minor impact on the financial information for Network Infrastructure and Mobile Infrastructure segments due to the scope of expected transactions and centrally allocated costs. For more information on Nokia’s current operational and reporting structure and discontinued operations, refer to Note 2. Segment information and Note 3. Discontinued operations and disposal groups held for sale in Nokia’s Report for Q2 and Half Year 2026.

To provide a basis for comparison, the following tables present summarized income statement information for Nokia Group and its reportable segments on an unaudited basis for all quarters and the full year of 2025, as well as for the first two quarters and first half of 2026, reflecting the presentation of Fixed Wireless Access CPE and Enterprise Campus Edge businesses as discontinued operations.

Tables in Excel are attached to this stock exchange release.

Nokia Group

Reported         
 Recast  
EUR millionQ1'25Q2'25Q3'25Q4'25Q1-Q4'25 Q1'26Q2’26Q1-Q2’26
Net sales4 3004 4434 7006 02119 464 4 4334 8159 248
Gross profit1 8091 9532 0852 7398 587 1 9772 1464 123
Gross margin %        42.1%        44.0%        44.4%        45.5%        44.1%         44.6%        44.6%        44.6%
Research and development expenses(1 127)(1 143)(1 155)(1 350)(4 776) (1 223)(1 383)(2 606)
Selling, general and administrative expenses(701)(721)(710)(854)(2 985) (647)(817)(1 464)
Other operating income and expenses23583139151 (24)4(19)
Operating profit/(loss)4147252575977 83(50)33
Operating margin %        0.1%        3.3%        5.4%        9.5%        5.0%         1.9%        (1.0%)        0.4%
Profit/(loss) from continuing operations(39)9990562712 10427131
Profit/(loss) for the period(60)9680544660 87592


Comparable         
 Recast  
EUR millionQ1'25Q2'25Q3'25Q4'25Q1-Q4'25 Q1'26Q2’26Q1-Q2’26
Net sales4 3004 4484 7056 02619 480 4 4364 8159 251
Gross profit1 8422 0172 1092 9208 889 2 0382 2164 253
Gross margin %        42.8%        45.3%        44.8%        48.5%        45.6%         45.9%        46.0%        46.0%
Research and development expenses(1 097)(1 109)(1 104)(1 231)(4 541) (1 137)(1 197)(2 334)
Selling, general and administrative expenses(559)(589)(590)(664)(2 402) (588)(589)(1 177)
Other operating income and expenses23483342145 (11)5(7)
Operating profit2093674481 0672 092 301434735
Operating margin %        4.9%        8.3%        9.5%        17.7%        10.7%         6.8%        9.0%        7.9%
Profit/(loss) from continuing operations1742523348841 644 311414726
Profit/(loss) for the period1742523348841 644 311414726

Network Infrastructure

 Recast  
EUR millionQ1'25Q2'25Q3'25Q4'25Q1-Q4'25 Q1'26Q2’26Q1-Q2’26
Net sales1 6391 8251 8502 3327 646 1 8292 0373 866
Gross profit6867367901 0673 278 7928701 662
Gross margin %        41.9%        40.3%        42.7%        45.8%        42.9%         43.3%        42.7%        43.0%
Research and development expenses(344)(374)(392)(410)(1 520) (398)(428)(825)
Selling, general and administrative expenses(229)(253)(256)(275)(1 013) (268)(272)(540)
Other operating income and expenses(1)81614 (6)(4)(10)
Operating profit113117143387760 121166287
Operating margin %        6.9%        6.4%        7.7%        16.6%        9.9%         6.6%        8.2%        7.4%

Mobile Infrastructure


 Recast  
EUR millionQ1'25Q2'25Q3'25Q4'25Q1-Q4'25 Q1'26Q2’26Q1-Q2’26
Net sales2 5792 5312 7553 57911 445 2 5032 6805 183
Gross profit1 1401 2661 3021 8175 525 1 2131 3202 533
Gross margin %        44.2%        50.0%        47.3%        50.8%        48.3%         48.5%        49.3%        48.9%
Research and development expenses(720)(701)(683)(785)(2 890) (708)(735)(1 443)
Selling, general and administrative expenses(310)(293)(295)(338)(1 235) (283)(283)(566)
Other operating income and expenses24393138131 088
Operating profit1343103557321 531 222310532
Operating margin %        5.2%        12.3%        12.9%        20.4%        13.4%         8.9%        11.6%        10.3%

Portfolio Businesses

 Recast  
EUR millionQ1'25Q2'25Q3'25Q4'25Q1-Q4'25 Q1'26Q2’26Q1-Q2’26
Net sales808997113379 10094194
Gross profit2115183590 332760
Gross margin %        27.0%        17.4%        18.6%        30.8%        23.7%         32.7%        29.3%        31.0%
Research and development expenses(17)(18)(13)(18)(65) (18)(19)(37)
Selling, general and administrative expenses(10)(10)(10)(12)(42) (7)(8)(16)
Other operating income and expenses011(2)1 (5)(1)(5)
Operating profit/(loss)(6)(11)(4)4(17) 302
Operating margin %        (7.3%)        (12.5%)        (4.3%)        3.5%        (4.5%)         2.9%        (0.5%)        1.3%

About Nokia

Nokia is a global leader in connectivity for the AI era. With expertise across fixed, mobile, and transport networks, we’re advancing connectivity to secure a brighter world.

Inquiries:

Nokia
Communications
Phone: +358 10 448 4900
Email: [email protected]
Maria Vaismaa, Vice President, Corporate Communications

Nokia
Investor Relations
Phone: +358 931 580 507
Email: [email protected]

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