(Finance) – Ericssona Swedish multinational active in the supply of communication, software and infrastructure technologies and services in the ICT sector, closed on third quarter of 2023 with net sales of 64.5 billion Swedish crowns (SEK), or approximately 5.6 billion euros. Organic sales fell 10%, with a 16% organic decline in Networks partially offset by 5% organic growth in Cloud Software & Services and 11% in Enterprise.
In particular, the organic sales of Networks in North America decreased 60% year-over-year compared to the record third quarter of 2022, due to customer inventory adjustments and a slower pace of implementation.
The EBITA margin was 7.3% and EBITA 4.7 billion SEK. There net loss was SEK 30.5 billion, compared to the profit of SEK 5.4 billion in the same period in 2022.
“In a challenging operating environment, Ericsson delivered third quarter results in line with our guidance – commented the CEO Borje Ekholm – Consistent with the rest of our industry, we expect macroeconomic uncertainty to persist through 2024, impacting our clients’ ability to invest. We are addressing these challenges by focusing on the elements within our control, namely cost management and operational efficiency.”