Ericsson American Depositary Shares - ERIC STOCK NEWS

Ericsson (NASDAQ: ERIC) will publish its financial report for Q4 and the full year of 2022 on January 20, 2023, at 7:00 AM CET. A live video webcast for analysts, investors, and journalists will follow at 9:00 AM CET. The report will be available in PDF format on the company’s website. President and CEO Börje Ekholm and CFO Carl Mellander will comment on the report during the webcast. The report can be accessed after the event on Ericsson’s official site.

Electric vehicles (EV) are experiencing rapid growth, with significant opportunities for charging companies due to increasing demand. In 2020, 10 million electric passenger cars were on the road, projecting to reach 39 million by 2030. Efficient charging infrastructure management using IoT is crucial as EV adoption rises, requiring coordination with renewable energy sources. The EV charging market is predicted to grow by 30% CAGR, leading to over 5 million charging points in Europe and 2 million in North America by 2024.

Ericsson is implementing a revised strategy for its Cloud Software and Services segment aimed at reaching break-even EBIT in 2023. Key changes involve exiting subscale agreements, which will negatively impact EBIT by SEK -0.8 billion in Q4 2022. The company is shifting its focus from market share growth to profitability. This strategic pivot comes ahead of its upcoming Q4 and full-year 2022 results announcement on January 20, 2023.

Ericsson has significantly contributed to connecting over two million children worldwide through its partnership with UNICEF on the Giga initiative. The focus is on mapping school connectivity to enhance digital learning and bridge the gap for 2.7 billion people without access. The partnership emphasizes the importance of public-private collaboration, technical innovation, and meaningful connectivity for educational success. Ericsson has provided financial support and deployed expertise in data science, with plans to further monitor and improve school connectivity, ensuring equal access to digital opportunities.

Ericsson shares insights on diversity and inclusion initiatives in its latest news round-up. Key highlights include Microsoft's Global Diversity & Inclusion Report, featuring median pay and attrition data. The report notes a significant trend of women leaders switching jobs, seeking more flexibility. Additionally, various US states are introducing pay-transparency laws, although bonuses are often excluded. A TED talk by diversity leader June Sarpong advocates for 'inclusion rock stars' to drive change. These developments underscore increasing focus on accountability in workplace diversity.

Ericsson highlights the growing importance of energy efficiency in buildings, noting that they account for 40% of EU energy consumption and 36% of greenhouse gas emissions. With 75% of Europe's buildings deemed inefficient, the company emphasizes the need for investments in IoT and AI technologies alongside traditional building renovations. By implementing data-driven energy management, significant reductions in energy costs (10%-15%) can be achieved. This approach can enhance property values and optimize renovation investments, ultimately transforming the building sector into a technology-driven industry.

Ericsson explores the concept of quiet quitting in a new series discussing work-life balance and employee engagement. The phenomenon, which gained traction post-pandemic, involves employees doing the bare minimum without emotional investment. While some argue this reflects a deeper yearning for purpose, others question its validity. The series aims to examine the effects of quiet quitting on productivity and organizational culture, and how it intersects with employee well-being, generational perspectives, and the future of work.