Nokia 2015 Annual Report Download - page 110

108 NOKIA IN 2015
General facts on Nokia continued
Selected nancial data
The nancial data set forth below at and for the years ended December 31, 2015 and 2014 and for each of the years in the three-year period
ended December 31, 2015 has been derived from our audited consolidated nancial statements included in this annual report. Financial
dataatDecember 31, 2013 has been derived from our historical audited consolidated nancial statements not included in this annual report.
Thenancial data at December 31, 2015 and 2014 and for each of the years in the three-year period ended December 31, 2015 should be
readin conjunction with, and are qualied in their entirety by reference to, our audited consolidated nancial statements.
For the year ended December 31
2015 2014 2013
(in EURm, except for percentage and personnel data)
From the consolidated income statement – Continuing operations
Net sales 12 499 11 762 11 795
Change % 6.3% (0.3%) (17.5%)
Operating prot 1 688 1 412 672
% of net sales 13.5% 12.0% 5.7%
Financial income and expenses, net (177) (401) (277)
Prot before tax 1 540 999 399
Income tax (expense)/benet (346) 1 719 (271)
Prot attributable to equity holders of the parent 1 192 2 710 273
Prot/ (loss) attributable to non-controlling interests 2 8 (145)
Prot from Continuing operations 1 194 2 718 128
Earnings per share (for prot attributable to equity holders of the parent)
Basic earnings per share, EUR 0.32 0.73 0.07
Diluted earnings per share, EUR 0.31 0.67 0.07
From the statement of nancial position
Non-current assets 5 102 7 339 6 048
Cash and other liquid assets(1) 9 849 7 715 8 971
Other current assets 5 975 6 009 4 825
Assets held for sale and assets of disposal groups classied as held for sale –– 5 347
Total assets 20 926 21 063 25 191
Capital and reserves attributable to equity holders of the parent 10 503 8 611 6 468
Non-controlling interests 21 58 192
Non-interest bearing liabilities(2) 8 328 9 702 7 141
Interest-bearing liabilities(3) 2 074 2 692 6 662
Liabilities of disposal groups classied as held for sale –– 4 728
Total equity and liabilities 20 926 21 063 25 191
Other information
Research and development expenses 2 126 1 948 1 970
% of net sales 17.0% 16.6% 16.7%
Capital expenditures(4) 278 254 174
% of net sales 2.2% 2.2% 1.5%
Salaries and social expenses (3 738) (3 381) (3 635)
Average number of employees 56 690 51 499 53 436
Key nancial indicators
Cash dividends per share, EUR(5) 0.26 0.14 0.37
Dividends(6) 1 488 511 1 374
Return of capital employed, % 14.1% 11.2% 5.0%
Return on shareholders' equity, % 12.5% 35.9% 3.8%
Equity ratio, % 59.0% 49.3% 28.1%
Net debt to equity (gearing), % (73.9%) (57.9%) (34.7%)
Net cash 7 775 5 023 2 309
Free cash ow 193 964 (335)
(1) Cash and other liquid assets consist of the following line items from our consolidated statement of nancial position: cash and cash equivalents, available-for-sale investments, liquid assets and
investments at fair value through prot and loss, liquid assets.
(2) Includes Deferred tax liabilities, Dened benet pension liabilities, Deferred revenue and other long-term liabilities, Provisions, Other nancial liabilities, Current income tax liabilities, Accounts payable
and Accrued expenses and deferred revenue and other liabilities.
(3) Includes Long-term interest-bearing liabilities, Current portion of long-term interest-bearing liabilities and Short-term borrowings.
(4) Includes purchases of property, plant and equipment and intangible assets for Continuing operations.
(5) Dividends declared per share in 2015 are subject to shareholders’ approval.
(6) Maximum amount to be distributed as dividends based on the number of shares at March 31, 2016, excluding the number of treasury shares, and based on the proposal by the Board for the scal year
2015, subject to shareholders approval at the Annual General Meeting convening on June 16, 2016. Previous year’s gure represents the total actual amounts paid.