STOCKHOLM, July 14, 2023 /PRNewswire/ —
Second quarter highlights – In line with expectations
- Group organic sales[1] declined by -9% YoY. Segment Networks sales[1] declined by -13%, while segment Enterprise sales[1] grew by 20%. Reported sales was SEK 64.4 (62.5) b.
- The sharp decline in sales in North America was partly offset by strong sales development in India.
- Gross income excluding restructuring charges decreased to SEK 24.7 (26.3) b. as a result of lower sales and margins in Networks. Gross income increased in Enterprise, mainly driven by the consolidation of Vonage. Reported gross income was SEK 24.1 (26.3) b.
- Gross margin excluding restructuring charges was 38.3% (42.2%) primarily impacted by changed business mix in Networks. Reported gross margin was 37.4% (42.1%).
- EBITA excluding restructuring charges amounted to SEK 3.7 (7.5) b. with an EBITA margin of 5.7% (12.0%). Reported EBITA was SEK 0.5 (7.5) b. with restructuring charges amounting to SEK -3.1 (0.0) b.
- Net loss was SEK -0.6 (4.7) b. primarily due to restructuring charges. EPS diluted was SEK -0.21 (1.35).
- Free cash flow before M&A was SEK -5.0 (4.4) b., impacted by lower EBIT, payment to U.S. Department of Justice (DOJ) and increased working capital. Net cash on June 30, 2023, was SEK 1.9 b. compared with SEK 13.6 b. on March 31, 2023.
|
SEK b. |
Q2 |
Q2 |
YoY |
Q1 |
QoQ |
Jan-Jun |
Jan-Jun |
YoY |
|
Net sales |
64.4 |
62.5 |
3 % |
62.6 |
3 % |
127.0 |
117.5 |
8 % |
|
Sales growth adj. for comparable units and currency[2] |
– |
– |
-9 % |
– |
– |
– |
– |
-5 % |
|
Gross margin[2] |
37.4 % |
42.1 % |
– |
38.6 % |
– |
38.0 % |
42.2 % |
– |
|
EBIT |
-0.3 |
7.3 |
– |
3.0 |
– |
2.7 |
12.1 |
-77 % |
|
EBIT margin[2] |
-0.5 % |
11.7 % |
– |
4.9 % |
– |
2.2 % |
10.3 % |
– |
|
EBITA[2] |
0.5 |
7.5 |
-93 % |
3.8 |
-86 % |
4.4 |
12.4 |
-65 % |
|
EBITA margin[2] |
0.8 % |
12.0 % |
– |
6.2 % |
– |
3.5 % |
10.6 % |
– |
|
Net income (loss) |
-0.6 |
4.7 |
– |
1.6 |
– |
1.0 |
7.6 |
-87 % |
|
EPS diluted, SEK |
-0.21 |
1.35 |
– |
0.45 |
– |
0.25 |
2.23 |
-89 % |
|
Measures excl. restructuring charges[2] |
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|
Gross margin… |
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The post Ericsson reports second quarter 2023 – Telefonaktiebolaget L M (NASDAQ:ERIC) – Press Release appeared first on CaymanMama.com.
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