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On December 9, 2022, Niko Pakalén succeeded Jonas Synnergren as the representative for Cevian Capital Partners Limited on Ericsson's Nomination Committee. The committee now comprises five members, including Johan Forssell, Karl Åberg, Anders Oscarsson, and Ronnie Leten, who chairs the committee. This change in representation is part of Ericsson's governance structure, which includes efforts to ensure effective shareholder representation and decision-making.
Ericsson and Apple have reached a multi-year global patent license agreement that includes a cross-license for patented cellular standard-essential technologies. This settlement resolves all ongoing patent-related lawsuits between the two companies across various jurisdictions, including the US. Ericsson expects fourth quarter 2022 IPR licensing revenues to be between SEK 5.5 - 6.0 billion. The agreement is deemed strategically important for Ericsson's 5G licensing program and positions both companies to enhance their collaboration in technology development.
The November 2022 Ericsson Mobility Report highlights robust growth in global 5G subscriptions, anticipated to reach one billion by year-end 2022 and five billion by the end of 2028. Fixed Wireless Access (FWA) connections are expected to surpass 300 million by 2028, driven largely by demand in emerging markets. The report indicates that 5G is outpacing 4G in adoption rates, with significant deployments in North America and Asia. Furthermore, the telecommunications sector is urged to mitigate environmental impacts through smart network modernization and sustainable practices.
A new study commissioned by Ericsson highlights that 15 emerging markets could see GDP growth of 0.3-0.46% by 2035 from 5G connectivity. The report, conducted by Analysys Mason, indicates that the economic benefits from 5G deployment outweigh costs by three to seven times. It emphasizes that enhanced mid-band 5G coverage could account for 80% of economic gains, particularly in agriculture and smart industry sectors. Governments are encouraged to treat 5G as national infrastructure and implement supportive policies.
Ericsson (NASDAQ: ERIC) announced its Capital Markets Day scheduled for December 15, 2022, in New York. The event will be attended by top executives, including CEO Börje Ekholm and CFO Carl Mellander, and will feature presentations from 9:00 AM to 3:00 PM EST. Registration begins at 8:00 AM EST, followed by a holiday mingle at 3:00 PM. The event will be available online for those unable to attend in person, with on-demand access post-event. This gathering aims to engage with investors, financial analysts, and media.
Ericsson's Q3 2022 results show 3% organic sales growth to SEK 68.0 billion, aided by the Vonage acquisition. Gross income rose to SEK 28.1 billion, though gross margin decreased to 41.4%. EBITA dropped 18% to SEK 7.6 billion, with a margin of 11.2%, impacted by higher investments and one-off costs. Net income stood at SEK 5.4 billion, down 7%. Free cash flow fell significantly by 80% to SEK 2.5 billion due to working capital buildup. The company emphasizes ongoing contracts expected to enhance sales in Q4 and 2023.