Ericsson (ERIC) is a global telecommunications company specializing in providing infrastructure, software, and services to enable connectivity and digital transformation. The company focuses on developing advanced telecommunications solutions, including 5G networks, cloud-native platforms, and enterprise communication services. Ericsson's offerings cater to both communication service providers and enterprise customers worldwide.
- Networks - Delivers multi-technology-capable Radio Access Network (RAN) solutions, including purpose-built and Open RAN-prepared hardware and software, Cloud RAN, transport portfolios, and antenna solutions. Also provides network deployment and support services.
- Cloud Software and Services - Offers solutions for core networks, business and operational support systems, network design and optimization, and managed network services, enabling cloud operations and intelligent, automated networks.
- Enterprise - Comprises solutions such as Unified Communications as a Service (UCaaS), private wireless networks, and mobile financial services, targeting enterprise customers.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Åsa Tamsons Executive | SVP, Head of Business Area Enterprise Wireless Solutions, and CEO of Cradlepoint | Board Member at CNH Industrial | Åsa Tamsons joined Ericsson in 2018 and became CEO of Cradlepoint in November 2023, driving enterprise wireless solutions growth. | |
Börje Ekholm Executive | President and CEO | Board Chair at Trimble Inc.; Board Member at Swedish-American Chamber of Commerce New York | Börje Ekholm has been Ericsson's CEO since 2017, focusing on 5G leadership and business transformation. | |
Carl Mellander Executive | Senior Vice President and CFO | Board Member at ICC Sweden; Board Member at Grönskär Gruppen AB | Carl Mellander has been CFO since 2017, playing a key role in Ericsson's financial turnaround and compliance improvements. | |
Chris Houghton Executive | Chief Operating Officer (COO) | None | Chris Houghton became COO in November 2023 after 35 years at Ericsson, leading cost efficiency initiatives. | |
Erik Ekudden Executive | SVP and Chief Technology Officer (CTO) | Board Member at ASSA ABLOY AB | Erik Ekudden has been CTO since 2018, focusing on technology strategy and innovation. | |
Jenny Lindqvist Executive | SVP and Head of Market Area Europe & Latin America | Board Member at TechSverige | Jenny Lindqvist has been with Ericsson since 2023, driving growth in Europe and Latin America markets. | |
Niklas Heuveldop Executive | Head of Business Area Global Communications Platform and CEO of Vonage | Board Member at Swedish-American Chamber of Commerce New York; Board Member at CTIA | Niklas Heuveldop has been with Ericsson since 2017 and assumed his current role in February 2024, focusing on enterprise growth. | |
Scott Dresser Executive | SVP, Chief Legal Officer, and Secretary | Board Member at BirdLife International | Scott Dresser has been Chief Legal Officer since 2022, overseeing legal and compliance functions. | |
Stella Medlicott Executive | SVP, Chief Marketing and Communications Officer | None | Stella Medlicott has been CMO since 2019, leading global marketing and communications strategies. | |
Christy Wyatt Board | Board Member | Board Member at Silicon Laboratories Inc. and Absolute Software Corporation | Christy Wyatt joined Ericsson's Board in 2023, bringing her leadership experience in technology and software companies. | |
Eric A. Elzvik Board | Board Member | Board Chair at Global Connect Group and Deutsche Glasfaser Group; Board Member at Landis+Gyr Group AG and AB Volvo | Eric A. Elzvik has been on Ericsson's Board since 2017 and chairs the Audit and Compliance Committee. | |
Helena Stjernholm Board | Board Member | President and CEO of AB Industrivärden; Board Member at AB Volvo and Sandvik AB | Helena Stjernholm has been on Ericsson's Board since 2016, contributing her private equity and governance expertise. | |
Jacob Wallenberg Board | Deputy Chair of the Board of Directors | Chair of Investor AB; Deputy Chair of ABB Ltd, FAM, Patricia Industries, Wallenberg Investments AB | Jacob Wallenberg has been Deputy Chair since 2011, contributing financial expertise and governance leadership. | |
Jan Carlson Board | Chair of the Board of Directors | Chair of the Board at Autoliv Inc.; Board Member at AB Volvo | Jan Carlson has been Chair of Ericsson's Board since 2023, bringing extensive governance and leadership experience. | |
Jon Fredrik Baksaas Board | Board Member | Chair of the Board at DNV GL Group AS; Board Member at Svenska Handelsbanken AB | Jon Fredrik Baksaas joined Ericsson's Board in 2017, leveraging his telecom expertise from his tenure as CEO of Telenor Group. | |
Jonas Synnergren Board | Board Member | Senior Partner at Cevian Capital AB; Board Member at Nordea Oyj | Jonas Synnergren joined Ericsson's Board in 2023, leveraging his expertise in finance and governance. | |
Kristin S. Rinne Board | Board Member | Trustee of Washburn University Foundation; Advisory Board Member at Link Labs | Kristin S. Rinne has been on Ericsson's Board since 2016, bringing extensive telecom industry experience from her time at AT&T. |
- Given the strong revenue contribution from the AT&T contract in Q3, why does your Q4 outlook indicate subseasonal Networks revenue growth, and how do you anticipate this contract will affect revenue seasonality and group margins in the coming quarters?
- With your rolling 12-month EBITA margin at around 10% in Q3, below your target of 15-18%, what specific additional cost actions do you plan for 2025 in a flat market with inflationary pressures, and can you achieve your margin targets without further restructuring?
- Enterprise Wireless Solutions experienced a significant slowdown in growth this quarter and you anticipate continued softness; can you explain the specific reasons for this decline and detail the measures you are taking to revive growth in this segment?
- You have consistently provided conservative gross margin guidance but have outperformed in recent quarters; is there a visibility issue with your forecasting processes, or are unexpected factors contributing to these better-than-expected margins?
- In the competitive RAN market, especially with pressure from Chinese vendors, how do you plan to maintain market share without compromising margins, and are there strategic adjustments you're making to tackle these competitive challenges?
Research analysts who have asked questions during ERICSSON LM TELEPHONE earnings calls.
Andreas Joelsson
Carnegie Investment Bank
4 questions for ERIC
Andrew Gardiner
Citigroup
4 questions for ERIC
Felix Henriksson
Nordea Bank Abp
4 questions for ERIC
Sami Sarkamies
Danske Bank A/S
4 questions for ERIC
Sandeep Deshpande
JPMorgan Chase & Co.
4 questions for ERIC
Francois-Xavier Bouvignies
UBS
3 questions for ERIC
Joachim Gunell
DNB Markets
3 questions for ERIC
Sébastien Sztabowicz
Kepler Cheuvreux
3 questions for ERIC
Alexander Duval
Goldman Sachs
2 questions for ERIC
Daniel Djurberg
Handelsbanken
2 questions for ERIC
Didier Scemama
Bank of America
2 questions for ERIC
Erik Lindholm-Rojestal
SEB
2 questions for ERIC
Fredrik Lithell
Handelsbanken Capital Markets
2 questions for ERIC
Jakob Bluestone
BNP Paribas
2 questions for ERIC
Richard Kramer
Arete Research
2 questions for ERIC
Ulrich Rathe
Sanford C. Bernstein & Co., LLC
2 questions for ERIC
Janardan Menon
Jefferies
1 question for ERIC
Joseph Zhou
Barclays PLC
1 question for ERIC
Robert Sanders
Deutsche Bank
1 question for ERIC
Simon Granath
ABG Sundal Collier
1 question for ERIC
Terence Tsui
Morgan Stanley
1 question for ERIC
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Ericom Software Limited | 2023 | Acquired by Cradlepoint (an Ericsson subsidiary) on April 3, 2023 via an all-cash transaction valued at SEK 0.9 billion. The acquisition was strategically aimed at enhancing SASE and zero-trust offerings by integrating advanced cloud-based security solutions into Ericsson’s NetCloud Threat Defense service, generating future technology synergies. |
Vonage Holdings Corp. | 2022 | Acquired by Ericsson for approximately USD 6.2 billion (total consideration of SEK 54.0 billion, including SEK 43.7 billion in goodwill) and completed on July 21, 2022. The deal provided Ericsson with cloud communications solutions (including CPaaS, UCaaS, and CCaaS) to leverage 5G network capabilities and drive enterprise growth, with synergistic integration led by Vonage’s CEO joining Ericsson's executive team. |
Recent press releases and 8-K filings for ERIC.
- Ericsson has entered into a three-year, USD $3 billion partnership agreement with Export Development Canada (EDC).
- This partnership is designed to expand investment in Canadian research and development, strengthen domestic supply chains, and accelerate next-generation technologies such as 5G, Cloud RAN, AI, and quantum innovation.
- The agreement builds upon a previous CAD 634.8 million R&D agreement with the Government of Canada announced in 2024, further solidifying Ericsson's long-term commitment to Canadian innovation.
- Ericsson reported a -2% organic sales decline in Q3 2025, with total reported sales reaching SEK 56.2 billion.
- Profitability significantly increased, with adjusted EBITA at SEK 15.8 billion (28.1% margin) and diluted EPS at SEK 3.33. These figures include a SEK 7.6 billion capital gain from the divestment of iconectiv, which contributed SEK 1.72 per share to EPS.
- The adjusted gross margin improved to 48.1% in Q3 2025, up from 46.3% in Q3 2024, driven by operational execution and cost efficiency.
- The company maintained a strong cash position, with net cash increasing to SEK 51.9 billion. Management expects Enterprise organic sales to stabilize in Q4 and the RAN market to remain broadly stable.
- Ericsson reported Q3 2025 net sales of SEK 56.2 billion, with organic sales declining 2% year-on-year, primarily due to reduced sales in the Americas.
- The company achieved a three-year high EBITDA margin of 14.7% (excluding the iConnective sale gain) and a gross margin of 48.1%, driven by structural improvements in its cost base and operational efficiency, including a reduction of 6,000 employees over the last year.
- Adjusted EBITDA increased by SEK 0.4 billion to SEK 8.2 billion, and cash flow before M&A was SEK 6.6 billion, leading to an elevated net cash position of SEK 51.9 billion.
- Due to the strong cash position, the board plans to propose increased shareholder returns through extra dividends and/or a share buyback program at the upcoming Annual General Meeting.
- For Q4, Ericsson anticipates sales growth broadly similar to the three-year average quarter-on-quarter seasonality and expects Networks adjusted gross margin to be in the range of 49% to 51%.
- Total shares increased to 3,371,351,735 with 261,755,983 A shares and 3,109,595,752 B shares, and total votes of 572,715,558.2, reflecting the updated capital structure.
- The increase stems from issuing 23.1 million C shares, subsequently repurchased and converted into B shares, supporting the Long-Term Variable Compensation Programs.
- Ericsson’s AGM on March 25, 2025 authorized the company to retain and sell up to 60% of the vested LTV 2022 shares of series B to cover tax and social security liabilities related to performance share awards.
- The transfer, involving a maximum of 368,692 series B shares from the existing 38,390,417 held, may occur on Nasdaq Stockholm from May 19, 2025 until the AGM in 2026 at a registered price interval.
- On May 5, 2025, Ericsson announced an acquisition offer for 23.1 million C shares to fund its Long-Term Variable Compensation Programs LTV 2025 and LTV 2024.
- The offer, effective May 5–May 19, 2025, provides for cash payment of approximately SEK 5 per share.
- Once acquired, the C shares will be converted into B shares, resulting in a total share count of 3,371,351,735, including 261,755,983 A shares and 3,109,595,752 B shares.
- Q1 2025 results: net sales of SEK 55.0 billion, adjusted EBITA of SEK 6.9 billion, adjusted gross margin at 48.5%, and EBITA margin at 12.6%
- Networks segment delivered robust performance with sales of SEK 35.6 billion and an improved adjusted EBITA margin of 21%
- Strategic advancements include the first programmable networks partnership in Asia Pacific with Telstra and network API fraud detection deployments by all three USA operators
- The company announced a new market area structure to consolidate regions and enhance operational efficiency
- Q2 guidance projects margins between 48% and 50%, factoring a 1 percentage point tariff impact as the firm advances its strategic priorities
- Ericsson has been selected to deploy and operate a dual-mode 5G Core network for GCI, integrating cloud-native infrastructure and advanced AI tools to streamline core operations.
- The initiative supports GCI’s transition toward 5G Standalone (SA) services while enhancing operational efficiency and freeing up resources for strategic investments.
- Adopted financial statements for 2024 and approved a dividend of SEK 2.85 per share (with disbursement in two installments) during the AGM held on March 25, 2025.
- Board fee structure set with a yearly fee of SEK 5,000,000 for the Chair and SEK 1,300,000 for other non-employee members, including additional compensation for meeting attendance based on location.
- Long-Term Variable Compensation Programs were approved, including the issuance of 12.7 million B-shares under LTV 2025 and adjustments related to previous LTV programs, reflecting key employee incentive measures.