STOCKHOLM, Jan. 4, 2023
/PRNewswire/ -- Ericsson (NASDAQ: ERIC) is continuing to
execute on its revised strategy in segment Cloud Software and
Services. As outlined at the recent Capital Markets Day, key
priorities include limiting subscale software development,
accelerating automation to lower deployment and maintenance efforts
and changing focus from market share gains to profitable
business.
With the revised Cloud Software and Services strategy, Ericsson
is laying the foundation to turn the segment around. The target is
to reach break-even in full-year 2023 on EBIT/EBITA level with
gradual improvements towards long-term attractive
profitability.
Following a portfolio and customer contract review, the Company
has decided to exit certain subscale agreements and product
offerings, with a one-off negative impact on EBIT of SEK -0.8 b. in Q4 2022, of which SEK -0.7 b. is expected to impact cash flow,
mainly in 2023.
Ericsson's Q4 and full-year 2022 results will be published
January 20 at approximately
7:00 am CET.
Read the full press release from Ericsson's Capital Markets Day
here:
www.ericsson.com/en/press-releases/2022/12/ericsson-capital-markets-day-2022
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MORE INFORMATION AT:
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media.relations@ericsson.com (+46 10 719 69 92)
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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
The following files are available for download:
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https://mb.cision.com/Main/15448/3693182/1763736.pdf
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Ericsson is taking
action to accelerate profitability in Cloud Software and
Services
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SOURCE Ericsson