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97
NOKIA GROUP 2009–2013, IFRS
Key ratios and economic indicators 1 2013 2012 2011 2010 2009
Nokia continuing operations
Net sales, EURm 12709 15400 15968 13586 13373
Change, % – 17.5% – 3.6% 17.5% 1.6% n/a
Exports and foreign subsidiaries, EURm 12115 14741 15013 12907 12704
Salaries and social expenses, EURm 4041 5034 4612 4204 4203
Operating profi t, EURm 519 – 821 – 1388 – 1440 – 2373
% of net sales 4.1% – 5.3% – 8.7% – 10.6% – 17.7%
Financial income and expenses, EURm – 2 80 – 357 – 131 – 233 – 236
% of net sales – 2 . 2% – 2.3% – 0.8 % – 1.7% – 1.8%
Profi t before tax, EURm 243 – 1179 – 1542 – 1672 – 2579
% of net sales 1.9% – 7.7% – 9.7% – 12.3% – 19.3%
Profi t/(loss), EURm 41 – 1483 – 1615 – 1577 – 2668
% of net sales 0.3% – 9. 6% – 10.1% – 11.6% – 20 .0 %
Taxes, EURm 202 304 73 -95 89
Dividends 2, EURm 1 386 2 — 749 1498 1498
Capital expenditure, EURm 214 290 410 376 322
% of net sales 1.7% 1.9% 2.6% 2.8% 2.4%
Gross investments 3, EURm 275 346 523 511 420
% of net sales 2.2% 2.2% 3.3% 3.8% 3.1%
R&D expenditure, EURm 2619 3081 3334 3261 3019
% of net sales 20.6% 20.0% 20.9% 24.0% 22.6%
Average personnel 59333 71808 80856 73959 69684
Non-interest bearing liabilities, EURm 6 946 14253 16168 16591 14483
Interest-bearing liabilities, EURm 6662 5549 5321 5279 5203
Return on capital employed, % 5.6 neg. neg. neg. neg.
Return on equity, % 2.6 neg. neg. neg. neg.
Equity ratio, % 28.0 32.9 40.1 42.8 41.9
Net debt to equity, % – 35 .0 – 47.0 – 4 0. 0 – 43.0 – 25. 0
As is customary, certain judgements have been made when regrouping
historical information.
Board proposal
Includes acquisitions, investments in shares and capitalized development
costs.
Calculation of Key Ratios, see page .