Nokia’s profit dropped slightly in the last few months of last year compared to a year earlier. The telecoms equipment maker said its comparable operating for the fourth quarter was 1.06 billion euros, from 1.09 billion in the same period of 2024.
However the firm said on Thursday that its fourth-quarter net sales rose by three percent year-on-year, with growth in Network Infrastructure and Mobile Networks segments offsetting other declines.
Network Infrastructure’s Optical Networks unit reported 17 percent growth. "Optical is a critical component of the infrastructure required to support AI at scale, and we are investing with a long-term view," the company said in a press release.
Investors were not impressed by Nokia's earnings. Its share price fell by about six percent in morning trading on the Helsinki Stock Exchange, the business daily Kauppalehti reported.
Nokia's shares were already down by about four percent on Wednesday, ahead of the Q4 report.
"Maybe someone sensed or knew that there could be softness here," OP Pohjola's head of equity fund management, Juuso Kenkkilä, suggested in a live broadcast before the stock market opened.
Nokia's profits also dropped in the third quarter of last year.
Nordea suffers higher credit losses in Finland
Meanwhile Nordea Bank, Finland's most valuable and most widely owned listed company, reported slightly weaker results last year than the previous year.
The entire Nordic banking conglomerate’s full-year operating profit fell by approximately four percent to 6.3 billion euros. The bank operates in Denmark, Finland, Norway and Sweden.
It said that demand for loans was weaker in Finland than in other Nordic countries, while credit losses were also higher here.
In Finland, credit losses on loans to individuals averaged 0.19 percent in the last quarter of the year, while the corresponding figure in Sweden was only 0.06 percent.
Overall, Nordea's credit losses in the last quarter of the year were lower than a year earlier.
A key indicator of the bank's success, net interest income, slumped by almost six percent year-on-year, to 7.2 billion euros.
Last month, Finland's Financial Supervisory Authority accused Nordea of lax monitoring of sanctions against Russia.
