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Ericsson reports second quarter results 2024

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6 months ago

on

STOCKHOLM, July 12, 2024 /PRNewswire/ —

Strategic highlights – taking proactive action in a challenging market environment 

Delivering on network technology leadership strategy; externally recognized as 5G leader for 4th consecutive year.  Further progress to build out Global Network Platform for network APIs; two additional partnerships in Q2.  New 5G patent licensing agreement signed; on track to deliver the SEK 12–13 b. IPR revenue target for 2024. 

Financial highlights – strong gross margin expansion, partly offset by targeted R&D investments   

Sales declined -7%* YoY, but market area North America grew by 14%*. Reported sales were SEK 59.8 (64.4) b.  Adjusted[1] gross income increased to SEK 26.3 (24.7) b. driven by strong gross margin expansion. Reported gross income was SEK 25.8 (24.1) b.  Adjusted[1] gross margin was 43.9% (38.3%) supported by higher IPR licensing revenue and cost actions. Networks adjusted gross margin was 46.1% (39.3%). Reported gross margin was 43.1% (37.4%).  Adjusted[1] EBITA was SEK 4.1 (3.7) b. with a 6.8% (5.7%) margin, with higher gross income partly offset by increased R&D investments in Networks for technology leadership. EBITA was SEK 2.4 (0.5) b.   Net income (loss) was SEK -11.0 (-0.6) b., including a SEK -11.4 b. impairment impact. EPS diluted was SEK -3.34 (-0.21).  Free cash flow before M&A was SEK 7.6 (-5.0) b. benefiting from a strong improvement in working capital. 

Börje Ekholm, President and CEO, said: “In Q2, we maintained our leading market position, returned to growth in North America, and delivered strong gross margin expansion and free cash flow. We remained focused on matters in our control, to optimize our business amid a challenging market environment, with industry investment levels unsustainably low.  

Vonage remains foundational to build out a global platform for network APIs. This is critical for the digitalization of enterprises and society, and will drive future growth in the telecoms industry. We recorded an impairment charge in Q2, as market growth in the current business has slowed, and we must now refocus on improving performance.  

Our results highlight our competitiveness, and we will continue to take proactive steps to position the business for longer-term success. We expect market conditions to remain challenging this year, as the pace of India investments slow, however our sales will benefit during the second half from contract deliveries in North America.” 

SEK b.

Q2

2024

Q2

2023

YoY

change

Q1

2024

QoQ

change

Jan-Jun

2024

Jan-Jun

2023

YoY

change

Net sales

59.848

64.444

-7 %

53.325

12 %

113.173

126.997

-11 %

 Organic sales growth[2] 

–

–

-7 %

–

–

–

–

-10 %

Gross margin[2] 

43.1 %

37.4 %

–

42.5 %

–

42.8 %

38.0 %

–

EBIT (loss) 

-13.519

-0.312

–

4.100

–

-9.419

2.734

–

EBIT margin[2] 

-22.6 %

-0.5 %

–

7.7 %

–

-8.3 %

2.2 %

–

EBITA[2] 

2.426

0.542

348 %

4.893

-50 %

7.319

4.390

67 %

EBITA margin[2] 

4.1 %

0.8 %

–

9.2 %

–

6.5 %

3.5 %

–

Net income (loss) 

-10.999

-0.597

–

2.613

–

-8.386

0.978

–

EPS diluted, SEK 

-3.34

-0.21

–

0.77

–

-2.57

0.25

–

Free cash flow before M&A 

7.595

-4.992

–

3.671

107 %

11.266

-13.008

–

Net cash, end of period 

13.133

1.892

–

10.807

22 %

13.133

1.892

–


Adjusted financial measures[2]

Adjusted gross margin 

43.9 %

38.3 %

–

42.7 %

–

43.4 %

39.0 %

–

Adjusted EBIT (loss) 

-11.891

2.821

–

4.305

–

-7.586

6.847

–

Adjusted EBIT margin 

-19.9 %

4.4 %

–

8.1 %

–

-6.7 %

5.4 %

–

Adjusted EBIT excluding impairments[3] 

3.229

2.821

14 %

4.305

-25 %

7.534

6.847

10 %

Adjusted EBIT margin excluding impairments[3] 

5.4 %

4.4 %

–

8.1 %

–

6.7 %

5.4 %

–

Adjusted EBITA 

4.054

3.675

10 %

5.10

-20 %

9.152

8.503

8 %

Adjusted EBITA margin 

6.8 %

5.7 %

–

9.6 %

–

8.1 %

6.7 %

–

*Sales adjusted for the impact of acquisitions and divestments and effects of foreign currency fluctuations. 

[1] Adjusted metrics are adjusted to exclude restructuring charges. This is a change in nomenclature only, compared with previous reports.

[2] Non-IFRS financial measures are reconciled at the end of this report to the most directly reconcilable line items in the financial statement.

[3] Excluding the non-cash impairment recorded in the second quarter 2024, relating to the impairment of intangible assets mainly attributed to the Vonage acquisition. 

 

NOTES TO EDITORS 

You find the complete report with tables in the attached PDF or on https://www.ericsson.com/en/investors/financial-reports/interim-reports

Video webcast for analysts, investors and journalists 

President and CEO Börje Ekholm and CFO Lars Sandström will comment on the report and take questions at a video webcast at 10:00 AM CEST (9:00 AM BST London, 4:00 AM EDT New York). 

Join the webcast or please go to www.ericsson.com/investors

To ask a question: Access dial-in information here

The webcast will be available on-demand after the event and can be viewed at www.ericsson.com/investors. 

FOR FURTHER INFORMATION, PLEASE CONTACT 

Contact person 
Daniel Morris, Head of Investor Relations
Phone: +44 7386657217 
E-mail: investor.relations@ericsson.com

Additional contacts 

Stella Medlicott, Senior Vice President, Marketing and Corporate Relations 
Phone: +46 730 95 65 39
E-mail: media.relations@ericsson.com

Investors
Lena Häggblom, Director, Investor Relations 
Phone: +46 72 593 27 78
E-mail:  lena.haggblom@ericsson.com
Alan Ganson, Director, Investor Relations
Phone: +46 70 267 27 30
E-mail: alan.ganson@ericsson.com

Media
Ralf Bagner, Head of Media Relations
Phone: +46 76 128 47 89
E-mail: ralf.bagner@ericsson.com

Media relations  
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com

This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on July 12, 2024. 

View original content:https://www.prnewswire.co.uk/news-releases/ericsson-reports-second-quarter-results-2024-302195667.html

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TriNetX’s Founding CEO Announces Plans to Step Down

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49 minutes ago

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January 9, 2025

By

After 11 Years, Gadi Lachman to Conclude Operating Role, Remain on TriNetX’s Board

CAMBRIDGE, Mass., Jan. 9, 2025 /PRNewswire/ — TriNetX, the largest global source of real-world data, today announced that Gadi Lachman, the Company’s Founder, President and CEO, will step down from his operating role on March 31, 2025. Gadi founded TriNetX in 2014 and has served as President and CEO in the succeeding 11 years. Gadi will continue to serve on TriNetX’s Board of Directors and will be an Advisor to Carlyle, TriNetX’s majority investor.

“It has been an honor to build TriNetX and be part of such an outstanding team. I want to thank TriNetX’s employees, customers, and shareholders for the support they have shown me. With the talent and passion of our people I am immensely confident in TriNetX’s continued success,” said Lachman. “Together, we have built the largest global platform for clinical research, with data from over 25 countries and tens of millions of queries a month. Our solutions are moving clinical research to a whole different level and saving lives on a massive scale, across all therapeutic areas.”

During the transition period, Jeff Margolis, a current TriNetX Director, will serve as Executive Chairman to ensure continuity in leadership and governance while a CEO search is conducted.

Margolis said, “I have had the distinct privilege of serving on the Board alongside Gadi and partnering with him for 11 years. On behalf of the Board, we thank Gadi for shaping and leading TriNetX to become the world’s top ecosystem of real-world data and real-world evidence serving life sciences and the broader healthcare industry. I look forward to working with him and the rest of the Board over the next months to execute a successful transition of leadership.”

Joe Bress, Partner and Global Co-Head of Healthcare for Carlyle, TriNetX’s lead investor, added, “We have been thrilled to partner with Gadi since our initial investment in TriNetX over four years ago. Thanks to his disciplined leadership, TriNetX is one of the few companies that has sustained profitability even during periods of high growth. Gadi has built the company up to an exciting point, paving the way for a new leader to take the business into its next chapter of growth and success.”

Through this leadership transition, TriNetX remains steadfast in its mission to advance global healthcare through the power of real-world data. The Board, leadership team, and employees are united in their commitment to driving continued innovation and delivering success for customers and partners, all while building on Gadi’s exceptional legacy.

About TriNetX, LLC

TriNetX is a global network of healthcare organizations and life sciences companies dedicated to advancing real-world research and expediting the development of new therapies. Through its self-service, HIPAA-, GDPR-, and LGPD-compliant platform of federated deidentified and anonymous electronic health record datasets and consulting partnerships, TriNetX empowers its global community to improve clinical trial protocol design, streamline trial operations, refine safety signals, and enrich real-world evidence generation. For more information, please visit TriNetX at www.trinetx.com or follow TriNetX on LinkedIn.

Media Contact
TriNetX
Michelle Fleming, Chief Marketing Officer
Email: Michelle.Fleming@TriNetX.com

Logo – https://mma.prnewswire.com/media/542641/TriNetX_Logo.jpg

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Stellus Private Credit BDC Announces $0.36 First Quarter 2025 Regular Dividend, Payable Monthly in Increments of $0.12 in January, February, and March 2025

Published

49 minutes ago

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January 9, 2025

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HOUSTON, Jan. 9, 2025 /PRNewswire/ — Stellus Private Credit BDC (“the Company”) announced that its Board of Trustees has declared a monthly dividend of $0.12 for each of January, February, and March, totaling $0.36 per share in the aggregate for the first quarter of 2025. The regular dividend of $0.36 per share will be paid to shareholders of record in January, February, and March 2025.

Summary of First Quarter 2025 Regular Monthly Dividends

Declared

Record Date

Payment Date

Amount per Share

1/9/2025

1/10/2025

1/31/2025

$0.12

1/9/2025

2/3/2025

2/28/2025

$0.12

1/9/2025

3/3/2025

3/31/2025

$0.12

About Stellus Private Credit BDC

The Company is an externally-managed, closed-end, non-diversified investment management company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing primarily in private middle-market companies (typically those with $5.0 million to $50.0 million of EBITDA (earnings before interest, taxes, depreciation and amortization)) through first lien (including unitranche) loans, second lien loans and unsecured debt financing, with corresponding equity co-investments. The Company’s investment activities are managed by its investment adviser, Stellus Private BDC Advisor, LLC.

Forward-Looking Statements

Statements included herein may contain “forward-looking statements” which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release, including statements about COVID-19 and its impacts, may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission including the final prospectus that will be filed with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contacts
Stellus Private Credit BDC
W. Todd Huskinson, Chief Financial Officer
(713) 292-5414
thuskinson@stelluscapital.com

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SOURCE Stellus Private Credit BDC

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MongoDB, Inc. to Present at the 27th Annual Needham Growth Conference

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49 minutes ago

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January 9, 2025

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NEW YORK, Jan. 9, 2025 /PRNewswire/ — MongoDB, Inc. (NASDAQ: MDB) today announced that Chief Operating Officer and Chief Financial Officer, Michael Gordon, and Senior Vice President of Finance, Serge Tanjga, will present virtually at the 27th Annual Needham Growth Conference.

The MongoDB presentation is scheduled for Thursday, January 16, 2025, at 3:45 p.m. Eastern Time. A live webcast of the presentation will be available on the Events page of the MongoDB investor relations website at https://investors.mongodb.com/news-events/events. A replay of the webcast will also be available for a limited time.

About MongoDB
Headquartered in New York, MongoDB’s mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. Built by developers, for developers, MongoDB’s developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today’s wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses. To learn more, visit mongodb.com.

Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com

Media Relations
MongoDB PR
press@mongodb.com

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SOURCE MongoDB, Inc.

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