Commitments, contingencies and legal proceedings (Tables)

12 Months Ended

Dec. 31, 2024

(1)Relates to lease contracts that had not yet commenced as at the reporting date.


EURm	2024	2023
Guarantees on behalf of Group companies
Guarantees issued by financial institutions
Commercial guarantees(1)	964	1 477
Non-commercial guarantees	498	615
Corporate guarantees(2)
Commercial guarantees(1)	263	325
Non-commercial guarantees	33	35
Financing commitments
Customer finance commitments(3)	11	5
Venture fund commitments(4)	306	381

(1)Commercial guarantees are guarantees that are issued in the normal course of

business to Nokia’s customers for the performance of Nokia’s obligations under

supply agreements; these include tender bonds, performance bonds and warranty

bonds.

(2)Corporate guarantees are guarantees with a primary obligation that are issued to

Nokia’s customers and other third parties.

(3)Customer finance commitments are available under customer loan facilities.

Availability of the facility depends on the borrower’s continuing compliance with the

agreed financial and operational covenants, and other administrative terms of the

facility. The loan facilities are primarily available to fund purchases of network

infrastructure equipment and services. Refer to Note 4.5. Trade receivables and

other customer-related balances.

(4)As a limited partner in NGP Capital and certain other funds making technology-

related investments, Nokia is committed to capital contributions and entitled to

cash distributions according to the respective partnership agreements and

underlying fund activities.