Here is a summary of the Nokia Corporations financial report for the fourth quarter (Q4) and full year of 2024
**Financial Highlights**
Q4 net sales increased by 9% year-over-year in constant currency (10% reported).
Comparable gross margin in Q4 improved by 250 basis points year-over-year to 47.2%.
Q4 comparable operating margin increased by 380 basis points year-over-year to 19.1%.
Q4 comparable diluted earnings per share (EPS) was EUR 0.18, and reported diluted EPS was EUR 0.15.
Full-year 2024 net sales declined by 9% in both reported and constant currency, partly due to a 7-percentage-point impact from India.
Full-year comparable operating profit was EUR 2.6 billion, and reported operating profit was EUR 2.0 billion.
Full-year comparable diluted EPS was EUR 0.39, and reported diluted EPS was EUR 0.23.
The Board proposes a dividend authorization of EUR 0.14 per share.
**Business Group Performance**
Network InfrastructureNet sales grew by 17% year-over-year, with strong performance across all units (IP Networks, Fixed Networks, and Optical Networks).
Mobile NetworksNet sales stabilized, and the company secured important deals, winning 18,000 additional base station sites since the start of 2024.
Cloud and Network ServicesReturned to 7% net sales growth, despite a 4-percentage-point headwind from a prior business disposal. Operating margin improved over the full year.
Nokia TechnologiesAnnual net sales run-rate increased to approximately EUR 1.3-1.4 billion in Q4, progressing toward the mid-term target of EUR 1.4-1.5 billion.
**Outlook for Full-Year 2025**
Comparable operating profit is expected to be between EUR 1.9 billion and EUR 2.4 billion.
Free cash flow conversion from comparable operating profit is expected to be between 50% and 80%.
The report also includes details on shareholder distribution, share buyback programs, additional topics, risk factors, and forward-looking statements.