Ericsson LM Releases Q1 2024 Report
Ticker: ERIXF · Form: 6-K · Filed: Apr 17, 2024 · CIK: 717826
| Field | Detail |
|---|---|
| Company | Ericsson Lm Telephone Co (ERIXF) |
| Form Type | 6-K |
| Filed Date | Apr 17, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: quarterly-report, foreign-issuer, sec-filing
TL;DR
Ericsson dropped its Q1 2024 report, check it out.
AI Summary
Ericsson LM Telephone Company announced its first quarter 2024 report on April 17, 2024. The filing is a Form 6-K, which is a report of a foreign issuer submitted to the SEC. The company is based in Stockholm, Sweden.
Why It Matters
This filing provides investors with an update on Ericsson's financial performance for the first quarter of 2024, offering insights into the company's current business status.
Risk Assessment
Risk Level: low — This is a routine quarterly report filing with no immediate or significant new risks indicated.
Key Players & Entities
- Ericsson LM Telephone Company (company) — Filer of the report
- LM Ericsson Telephone Company (company) — Registrant's name
- Stockholm, Sweden (location) — Company's principal executive offices
- April 17, 2024 (date) — Filing date of the report
- April 16, 2024 (date) — Date of the announcement regarding the Q1 2024 report
FAQ
What type of SEC filing is this?
This is a Form 6-K, which is a report of a foreign issuer.
What is the name of the company filing this report?
The company is Ericsson LM Telephone Company.
Where are Ericsson's principal executive offices located?
Ericsson's principal executive offices are located at Torshamnsgatan 21, Kista SE-164 83, Stockholm, Sweden.
What period does the announcement pertain to?
The announcement pertains to the 'First quarter report 2024'.
When was this Form 6-K filed with the SEC?
This Form 6-K was filed on April 17, 2024.
Filing Stats: 4,488 words · 18 min read · ~15 pages · Grade level 6.4 · Accepted 2024-04-17 10:05:28
Filing Documents
- d812627d6k.htm (6-K) — 2801KB
- g812627dsp3.jpg (GRAPHIC) — 6KB
- g812627dsp4.jpg (GRAPHIC) — 30KB
- 0001193125-24-098720.txt ( ) — 2853KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. T ELEFONAKTIEBOLAGET LM E RICSSON (publ) By: /s/ STELLA MEDLICOTT Stella Medlicott Senior Vice President, Chief Marketing and Communications Officer By: /s/ LARS SANDSTRÖM Lars Sandström Senior Vice President, Chief Financial Officer Date: April 17, 2024 Table of Contents First quarter report 2024 Stockholm, April 16, 2024 First quarter highlights Driving gross margin improvements and cost efficiencies Sales declined organically 1 by -14% YoY, due to a -19% decline in Networks. Reported sales decreased to SEK 53.3 (62.6) b. Gross income excluding restructuring charges decreased to SEK 22.8 (24.9) b. as lower sales were partly offset by an improvement in gross margin. Reported gross income was SEK 22.7 (24.2) b. Gross margin excluding restructuring charges improved to 42.7% (39.8%) supported by a competitive product portfolio, cost actions, improved commercial discipline, as well as increased IPR licensing revenues. Reported gross margin was 42.5% (38.6%). EBITA excluding restructuring charges amounted to SEK 5.1 (4.8) b. with a margin of 9.6% (7.7%), which included a one-time gain of SEK 1.9 b. Reported EBITA was SEK 4.9 (3.8) b. Net income was SEK 2.6 (1.6) b. EPS diluted was SEK 0.77 (0.45). Free cash flow before M&A was SEK 3.7 (-8.0) b. reflecting improved management of working capital. Net cash on March 31, 2024, was SEK 10.8 b. compared with SEK 7.8 b. on December 31, 2023. SEK b. Q1 2024 Q1 2023 YoY change Q4 2023 QoQ change Net sales 53.3 62.6 -15% 71.9 -26% Sales growth adj. for comparable units and currency ² - - -14% - - Gross margin ² 42.5% 38.6% - 39.8% - EBIT 4.1 3.0 35% 5.8 -30% EBIT margin ² 7.7% 4.9% - 8.1% - EBITA &su