NOK · NOK Q2 FY2026 earnings call record财报电话会记录

“We expanded our gross margin by 70 basis points to 46%, and our operating margin by 70 basis points to 9%.”

“Gross profit was EUR 2.2 billion, and gross margin increased 70 basis points to 46%.”

“Optical Line Terminal sales grew 18%, while ONT sales declined 16% as we continue to focus on higher-value parts of the portfolio.”

“Looking at the full year, we continue to expect technology standards to deliver a similar level of sales and profitability as in 2025.”

“Telecom sales increased 4%, while technology licensing grew 15%.”

“Look, I think first of all, if you think about the level of sophistication in the customers that are placing these orders, I think you have to step back and ask what the incentive is for double ordering.”

“I've absolutely seen this, much like you, in supply-constrained markets that I've worked in in the past, and it's particularly prevalent in markets where you're focused on enterprise customers, or you've got channels because customers tend to diversify and look for allocation.”

“If you think about our traditional business, heavily concentrated with telco customers and then obviously some in mission-critical, those orders, we may win a contract award, but we would see orders typically within 12 months, and that's really the shift.”

“That's why when I talk about our telco customer base, one of the conversations we're having with those customers is getting more visibility going forward, because they're also used to giving us fairly short-term, within 12 months, visibility, and we need to be planning even further.”

“The program that we announced in end of 2023, that we will end in end of this year, and we expect that we'll get those EUR 1.2 billion accumulated gross cost savings, just like we said as well.”

“The only thing I would say, Artem, is if you looked at NI specifically, the only headwind which we talked about last quarter is obviously on the customer premise equipment side of Fixed Networks, where we're getting much more disciplined on margin.”

“In the report, you say that the IP Networks product mix had an adverse impact on the NI gross margin.”