Ericsson publishes restated segment financials

Rhea-AI Summary

Ericsson (NASDAQ: ERIC) has released restated segment financials for the full year 2020, by quarter for 2021, and the first half of 2022. This follows a new reporting structure implemented in Q3 2022, designed to enhance year-on-year comparisons. The segments include Networks, Cloud Software and Services, Enterprise, and Other. The company will provide a detailed breakdown of net sales, including substantial contributions from IPR licensing. A conference call led by CFO Carl Mellander is scheduled for September 20, 2022, to discuss these changes.

Positive

• Revised reporting structure expected to enhance comparability for analysts and investors.
• Detailed breakdown of net sales will help in assessing performance across segments.

Negative

• None.

• Ericsson has published restated segment financials for 2020 full year, 2021 by quarter and 2022 Q1 and Q2 following the changed reporting structure as of Q3 2022
• Conference call with CFO Carl Mellander for financial analysts, investors and journalists at 3:00 PM CEST, September 20, 2022

STOCKHOLM, Sept. 20, 2022 /PRNewswire/ -- As announced in May 2022, Ericsson (NASDAQ: ERIC) will start to report financials according to its new segment structure as of the third quarter 2022. To facilitate year-on-year comparisons, Ericsson today publishes the restated segment financials for 2020 full year; 2021 by quarter and 2022 Q1 and Q2.

The four reported segments are:

Networks – including Radio Access Networks, Transport Solutions, Site Solutions, Network Rollout & Tuning and Customer Support.

Cloud Software and Services – including Core Network and Automation, Managed Services, Services Orchestration and Telecom BSS.

Enterprise – including Enterprise Wireless Solutions, Technologies & New Businesses, Global Communication Platform (Vonage – reported from Q3 2022) and Global Network Platform. 

Other – including media businesses, Ericsson Ventures and one-offs.

Net Sales for segments Networks and Cloud Software & Services include a breakdown of sales into products, services and IPR licensing revenues. The split of IPR licensing revenues will be 82% in Networks and 18% in Cloud Software & Services.

There is no change in the geographical structure. Net sales will continue to be reported in five geographic Market Areas and Market Area Other. Segment Enterprise will mainly be reported in Market Area Other.

Find restated segment financials attached in pdf format. Complete tables of restated segment financials are available at www.ericsson.com/investors.

CONFERENCE CALL FOR ANALYSTS, INVESTORS AND JOURNALISTS

A conference call for financial analysts, investors and journalists will begin at 3:00 PM CEST Stockholm (2:00 PM BST London, 9:00 AM EDT New York). CFO Carl Mellander will comment on the restated financials and take questions.

Conference call: Join here

To ask a question: Access dial-in information here

NOTES TO EDITORS:

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ABOUT ERICSSON:
Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company's portfolio spans the following business areas: Networks, Cloud Software and Services, Enterprise Wireless Solutions, Global Communications Platform, and Technologies and New Businesses. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ericsson/r/ericsson-publishes-restated-segment-financials,c3633128

The following files are available for download:

https://mb.cision.com/Main/15448/3633128/1628528.pdf

Ericsson restated segment financials

 

 

View original content:https://www.prnewswire.com/news-releases/ericsson-publishes-restated-segment-financials-301627869.html

SOURCE Ericsson

FAQ

What financials has Ericsson restated for 2022?

Ericsson has restated financials for Q1 and Q2 2022 to align with its new segment structure.

When will Ericsson's conference call occur?

The conference call will take place on September 20, 2022, at 3:00 PM CEST.

What are the new reported segments of Ericsson?

The new segments are Networks, Cloud Software and Services, Enterprise, and Other.

What is the significance of the restated segment financials for investors?

The restated financials will provide clearer year-on-year comparisons, aiding in investment decisions.

How much of Ericsson's sales come from IPR licensing?

The split of IPR licensing revenues is 82% in Networks and 18% in Cloud Software and Services.