Nordea analysoi 25-4-2025
NOKIA
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The company continues to anticipate strong growth in NI, growth in CNS and stable sales for MN in 2025.We cut adjusted EBIT by 8% for 2025E, owing to the Q1 miss and FX, and by only 1% for 2026E-27E. We model EBIT of EUR 2.1bn for 2025, corresponding to 13% growth when excluding more than EUR 700m of one-o s from the 2024.
