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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Nokia Oyj    NOKIA   FI0009000681

NOKIA OYJ

(NOKIA)
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Nokia appoints Nishant Batra as Chief Strategy and Technology Officer and member of the Nokia Group Leadership Team

12/17/2020 | 01:00am EST

Nokia Corporation
Stock Exchange Release
December 17, 2020, at 08:00 (CET +1)

Nokia appoints Nishant Batra as Chief Strategy and Technology Officer and member of the Nokia Group Leadership Team

Espoo, Finland – Nokia today announced the appointment of Nishant Batra, a proven technology leader with broad global experience, as Chief Strategy and Technology Officer and member of the Group Leadership team, effective from January 18, 2021.

Nishant joins Nokia from Veoneer in Sweden, a worldwide leader in automotive technology, where he was Executive Vice President and Chief Technology Officer. Prior this role he held several positions at Ericsson over twelve years in Sweden, India and the US, most recently as Head of Product Area Networks. He has extensive experience with complex systems based on cutting-edge silicon technology and both embedded as well as cloud-based software.

“I am delighted to welcome Nishant to Nokia at a pivotal time for our company," says Pekka Lundmark, President and Chief Executive Officer of Nokia. "He is a proven leader bringing with him a wealth of experience from technology to telecoms, as well as deep knowledge of our core CSP customers, the enterprise sector, and the emerging trends in the global market. His track record of developing innovative new products and successfully taking them to market make him a fantastic addition to our team.”

"I’m honored to be part of Nokia. This isn’t just about joining a company that has a fantastic portfolio, it’s also about the pride of being associated with such an iconic brand,” says Nishant Batra. “The telecommunications industry is an exciting place to be at the moment with 5G now really taking off, and Nokia is right at the heart of it. The company has the true potential to work with diverse customer groups in the market and I see that we can make a significant impact over the long term. My personal ambition will be to ensure that Nokia is strategically positioned to win and that Nokia Bell Labs continues to be seen as the pinnacle of innovation.”

Nishant holds an MBA from INSEAD, a master’s degree in telecommunications and a master’s degree in computer science from Southern Methodist University in Dallas, and a bachelor’s degree in computer applications from Devi Ahilya University in India.

Nishant will be based initially in Espoo, Finland, after which he will move to the US. He will report to Nokia’s President and Chief Executive Officer Pekka Lundmark.

Additional background information on all current members of the GLT can be found at www.nokia.com/en_int/investors/corporate-governance/group-leadership-team

About Nishant Batra

Born: 1978

Nationality: Indian

Education:

  • MBA, INSEAD, Fontainebleau, France, 2005–2006
  • Master of Science in Telecommunications, Southern Methodist University, Dallas, US, 2002–2003
  • Master of Science in Computer Science, Southern Methodist University, Dallas, US, 2000–2001
  • Bachelor of Computer Applications, Devi Ahilya University, Indore, India, 1996–1999

Primary professional experience:

Veoneer, Stockholm, Sweden, 2018–

  • EVP and Chief Technology Officer

Ericsson, 2006–2018

  • Head of Product Area Networks, Stockholm, Sweden, 2016–2018
  • Head of Engagement Practices for India region, Delhi, India, 2013–2015
  • VP and General Manager (KAM) MetroPCS (now TMUS), Dallas, US, 2011–2013
  • VP and CTO, Mid-Tier Customer Unit, and Young Advisor to CEO & President, Dallas, US, 2010–2011
  • Director, Wireless Customer Solutions, Dallas, US, 2009–2010
  • Product Manager, Long Term Evolution, Business Unit Networks, Stockholm, Sweden, 2008–2009
  • Business Development and Strategy Manager, Multimedia, India Gurgaon Region, India, 2007–2008
  • Account Manager, AT&T KAM, Region US and Canada Atlanta/Plano, US, 2006–2007

Corpus 2002–2005

  • Senior Consultant to Verizon – Information Technology, Dallas, US, 2003–2005
  • Consultant to Verizon – Information Technology, Dallas, US, 2002–2003

Controlling Factor, Dallas, US, 2001–2002

  • Software Lead

Positions of trust:

  • Advisor, Mavenir, 2018–2020
  • Member of the Board of Directors, Zenuity, 2019–2020
  • Member of the Board of Directors, Sensys Gatso Group, 2020–

Media Inquiries:
Nokia Communications
Tel. +358 10 448 4900
Email: press.services@nokia.com

Investor Inquiries:
Nokia Investor Relations
Tel. +358 40 803 4080
Email: investor.relations@nokia.com

About Nokia
We create the critical networks and technologies to bring together the world’s intelligence, across businesses, cities, supply chains and societies.

With our commitment to innovation and technology leadership, driven by the award-winning Nokia Bell Labs, we deliver networks at the limits of science across mobile, infrastructure, cloud, and enabling technologies.

Adhering to the highest standards of integrity and security, we help build the capabilities we need for a more productive, sustainable and inclusive world.

For our latest updates, please visit us online www.nokia.com and follow us on Twitter @nokia.

Forward-looking statements
It should be noted that Nokia and its businesses are exposed to various risks and uncertainties and certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia's current expectations and views of future developments and include statements regarding: A) expectations, plans or benefits related to our strategies, growth management and operational key performance indicators; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of that impact of COVID-19 on our businesses, our supply chain and our customers’ businesses) and any future dividends including timing and qualitative and quantitative thresholds associated therewith; C) expectations and targets regarding financial performance, cash generation, results, the timing of receivables, operating expenses, taxes, currency exchange rates, hedging, cost savings, product cost reductions and competitiveness, as well as results of operations including targeted synergies, better commercial management and those results related to market share, prices, net sales, income and margins; D) expectations, plans or benefits related to changes in organizational and operational structure; E) expectations regarding competition within our market, market developments, general economic conditions and structural and legal change globally and in national and regional markets, such as China; F) our ability to integrate acquired businesses into our operations and achieve the targeted business plans and benefits, including targeted benefits, synergies, cost savings and efficiencies; G) expectations, plans or benefits related to any future collaboration or to business collaboration agreements or patent license agreements or arbitration awards, including income to be received under any collaboration or partnership, agreement or award; H) timing of the deliveries of our products and services, including our short term and longer term expectations around the rollout of 5G, investment requirements with such rollout, and our ability to capitalize on such rollout; I) expectations and targets regarding collaboration and partnering arrangements, joint ventures or the creation of joint ventures, and the related administrative, legal, regulatory and other conditions, as well as our expected customer reach; J) outcome of pending and threatened litigation, arbitration, disputes, regulatory proceedings or investigations by authorities; K) expectations regarding restructurings, investments, capital structure optimization efforts, uses of proceeds from transactions, acquisitions and divestments and our ability to achieve the financial and operational targets set in connection with any such restructurings, investments, capital structure optimization efforts, divestments and acquisitions, including our current cost savings program; L) expectations, plans or benefits related to future capital expenditures, reduction of support function costs, temporary incremental expenditures or other R&D expenditures to develop or rollout software and other new products, including 5G, ReefShark and increased digitalization; M) expectations regarding our customers' future actions, including our customers’ capital expenditure constraints and our ability to satisfy customer’s needs and retain their business; and N) statements preceded by or including “believe”, “expect”, “expectations”, “deliver”, “maintain”, “strengthen”, “target”, “estimate”, “plan”, “intend”, “assumption”, “focus”, “continue”, “should", "will” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences include, but are not limited to: 1) our strategy is subject to various risks and uncertainties and we may be unable to successfully implement our strategic plans, sustain or improve the operational and financial performance of our business groups, correctly identify or successfully pursue business opportunities or otherwise grow our business; 2) general economic and market conditions, general public health conditions (including its impact on our supply chains) and other developments in the economies where we operate, including the timeline for the deployment of 5G and our ability to successfully capitalize on that deployment; 3) competition and our ability to effectively and profitably invest in existing and new high-quality products, services, upgrades and technologies and bring them to market in a timely manner; 4) our dependence on the development of the industries in which we operate, including the cyclicality and variability of the information technology and telecommunications industries and our own R&D capabilities and investments; 5) our dependence on a limited number of customers and large multi-year agreements, as well as external events impacting our customers including mergers and acquisitions and the possibility of our customers awarding business to our competitors; 6) our ability to maintain our existing sources of intellectual property-related revenue through our intellectual property, including through licensing, establishing new sources of revenue and protecting our intellectual property from infringement; 7) our ability to manage and improve our financial and operating performance, cost savings, competitiveness and synergies generally, expectations and timing around our ability to recognize any net sales and our ability to implement changes to our organizational and operational structure efficiently; 8) our global business and exposure to regulatory, political or other developments in various countries or regions, including emerging markets and the associated risks in relation to tax matters and exchange controls, among others; 9) our ability to achieve the anticipated benefits, synergies, cost savings and efficiencies of acquisitions; 10) exchange rate fluctuations, as well as hedging activities; 11) our ability to successfully realize the expectations, plans or benefits related to any future collaboration or business collaboration agreements and patent license agreements or arbitration awards, including income to be received under any collaboration, partnership, agreement or arbitration award; 12) Nokia Technologies' ability to protect its IPR and to maintain and establish new sources of patent, brand and technology licensing income and IPR-related revenues, particularly in the smartphone market, which may not materialize as planned, 13) our dependence on IPR technologies, including those that we have developed and those that are licensed to us, and the risk of associated IPR-related legal claims, licensing costs and restrictions on use; 14) our exposure to direct and indirect regulation, including economic or trade policies, and the reliability of our governance, internal controls and compliance processes to prevent regulatory penalties in our business or in our joint ventures; 15) our reliance on third-party solutions for data storage and service distribution, which expose us to risks relating to security, regulation and cybersecurity breaches; 16) inefficiencies, breaches, malfunctions or disruptions of information technology systems, or our customers’ security concerns; 17) our exposure to various legal frameworks regulating corruption, fraud, trade policies, and other risk areas, and the possibility of proceedings or investigations that result in fines, penalties or sanctions; 18) adverse developments with respect to customer financing or extended payment terms we provide to customers; 19) the potential complex tax issues, tax disputes and tax obligations we may face in various jurisdictions, including the risk of obligations to pay additional taxes; 20) our actual or anticipated performance, among other factors, which could reduce our ability to utilize deferred tax assets; 21) our ability to retain, motivate, develop and recruit appropriately skilled employees; 22) disruptions to our manufacturing, service creation, delivery, logistics and supply chain processes, and the risks related to our production sites; 23) the impact of litigation, arbitration, agreement-related disputes or product liability allegations associated with our business; 24) our ability to re-establish investment grade rating or maintain our credit ratings; 25) our ability to achieve targeted benefits from, or successfully implement planned transactions, as well as the liabilities related thereto; 26) our involvement in joint ventures and jointly-managed companies; 27) the carrying amount of our goodwill may not be recoverable; 28) uncertainty related to the amount of dividends and equity return (if any) we are able to distribute to shareholders for each financial period; 29) pension costs, employee fund-related costs, and healthcare costs; 30) our ability to successfully complete and capitalize on our order backlogs and continue converting our sales pipeline into net sales; 31) risks related to undersea infrastructure; and 32) the scope and duration of the COVID-19 impact on the global economy and financial markets as well as our customers, supply chain, product development, service delivery, other operations and our financial, tax, pension and other assets, and the shape of the economic recovery following the pandemic as well as the risk factors specified in our 2019 annual report on Form 20-F published on March 5, 2020 under "Operating and financial review and prospects-Risk factors" as supplemented by the form 6-K published on April 30, 2020 under the header “Risk Factors” and in our other filings or documents furnished with the U.S. Securities and Exchange Commission. Other unknown or unpredictable factors or underlying assumptions subsequently proven to be incorrect could cause actual results to differ materially from those in the forward-looking statements. We do not undertake any obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.

 


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Financials
Sales 2020 21 530 M 25 948 M 25 948 M
Net income 2020 615 M 741 M 741 M
Net cash 2020 1 992 M 2 401 M 2 401 M
P/E ratio 2020 29,8x
Yield 2020 0,30%
Capitalization 18 615 M 22 522 M 22 434 M
EV / Sales 2020 0,77x
EV / Sales 2021 0,75x
Nbr of Employees 94 250
Free-Float 93,5%
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 3,90 €
Last Close Price 3,30 €
Spread / Highest target 60,6%
Spread / Average Target 18,1%
Spread / Lowest Target -36,9%
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Managers and Directors
NameTitle
Pekka Ilmari Lundmark President & Chief Executive Officer
Marco Wirén Chief Financial Officer
Sari Maritta Baldauf Chairman
Marcus Weldon Chief Technology Officer
Nishant Batra Chief Strategy & Technology Officer
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