1、Report for Q2 and Half Year 2023Resilient performance amidst macro uncertaintyQ2 net sales flat y-o-y in constant currency(-3%reported).Enterprise net sales grew 27%y-o-y in constant currency(25%reported).Comparable gross margin declined 180bps y-o-y to 38.8%(reported declined 200bps to 38.2%)due to

2、 regional mix in Mobile Networks,partly offset by a strong Network Infrastructure margin and catch-up net sales in Nokia Technologies.Comparable operating margin declined y-o-y by 120bps to 11.0%(reported declined 130bps to 8.3%),due to the above mentioned gross margin factors,partly offset by lower

3、 operating expenses and higher other operating income.Comparable diluted EPS of EUR 0.07;reported diluted EPS of EUR 0.05.Free cash flow negative EUR 0.4bn,net cash balance of EUR 3.7bn.As announced on 14 July 2023,Nokia now expects full year 2023 net sales in the range of EUR 23.2 billion to EUR 24

4、.6bn with a comparable operating margin in the range of 11.5%to 13.0%.EUR million(except for EPS in EUR)Q223Q222YoY changeConstant currency YoY changeQ1-Q223Q1-Q222YoY changeConstant currency YoY changeReported resultsNet sales 5710 5873 (3)%0%11569 11220 3%4%Gross margin%38.2%40.2%(200)bps 37.8%40.

5、4%(260)bps Research and development expenses(1045)(1091)(4)%(2154)(2163)0%Selling,general and administrative expenses(703)(728)(3)%(1432)(1403)2%Operating profit 474 564 (16)%900 918 (2)%Operating margin%8.3%9.6%(130)bps 7.8%8.2%(40)bps Profit for the period 289 460 (37)%578 679 (15)%EPS,diluted 0.0

6、5 0.08 (38)%0.10 0.12 (17)%Net cash and interest-bearing financial investments 3660 4546 (19)%3660 4546 (19)%Comparable results Net sales 5710 5873 (3)%0%11569 11220 3%4%Gross margin%38.8%40.6%(180)bps 38.2%40.7%(250)bpsResearch and development expenses(1026)(1069)(4)%(2119)(2122)0%Selling,general a