The company said, “Since Nokia (NOK) provided guidance in January for the full year 2025, two headwinds outside its control are impacting the 2025 outlook. The largest headwind is currency fluctuations (particularly the weaker USD), an approximately EUR 230 million negative impact (EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations). Also, the current tariff landscape is expected to impact full year operating profit by EUR 50 million to EUR 80 million…In the second quarter, based on its preliminary financials, Nokia expects to report net sales of approximately EUR 4.55 billion and comparable operating profit of EUR 300 million. The Q2 comparable operating profit includes a negative impact from its venture funds of EUR 50 million primarily related to currency.”
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