Ericsson reports a net loss of SEK 26.1 billion for 2023, compared with a profit of SEK 19.1 billion in 2022, under the weight of heavy goodwill impairment (SEK 31.9 billion) and restructuring charges (SEK 6.5 billion).

Excluding restructuring charges, the telecom equipment supplier saw its EBITA margin contract by 2.8 points to 8.1%, on sales of 263.4 billion crowns, down 3% (-10% in organic terms, of which -15% for the networks division).

A dividend of SEK 2.70 per share, stable compared with the dividend paid for 2022, will be proposed by the Board of Directors for fiscal 2023 at the Annual General Meeting of Shareholders.

Looking ahead to 2024, we expect the market outside China to continue to decline, with uncertainties similar to those encountered in 2023', warns CEO Börje Ekholm, acknowledging that 'there is still work to be done'.

Copyright (c) 2024 CercleFinance.com. All rights reserved.