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PR Newswire

Clarivate Enhances Cortellis CMC Intelligence with Post-Approval Module to Accelerate Regulatory Success

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Enhancements enable pharma, biotech and generics companies to streamline regulatory tracking and optimize life cycle management for small molecules and biologics 

LONDON, May 2, 2024 /PRNewswire/ — Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, today announced the launch of the newly enhanced Cortellis CMC Intelligence™ solution, featuring a new post-approval variations module. The module for post-approval variations covers regulatory changes across multiple countries, offering meticulously curated requirements to streamline tracking. With this update, pharmaceutical, biotech, and generics companies can effortlessly navigate the regulatory process and prioritize essential actions.

CMC activities account for nearly 18% of the entire R&D budget, emphasizing the importance of optimization and validation. Cortellis CMC Intelligence for post-approval variations enables clients to compare requirements across 64 countries, reducing tracking time and increasing submission rates with organized, timely, and accurate information.

Justin Hubbard, Vice President, Product Management, Life Sciences & Healthcare, Clarivate, said: “This enhancement underscores our commitment to simplifying the complexities of CMC regulatory dossier submissions for our clients. By offering transformative insights, Clarivate accelerates their path to markets and patients. With the ability to efficiently compare regulations across countries for small molecules and biologics, as well as automate CMC regulatory monitoring through user-configured alerts, clients can navigate the process with confidence.” 

With its new module covering both pre- and post-approval documents, Cortellis CMC Intelligence offers comprehensive lifecycle information for drugs and biologics. Serving as a single-platform solution for CMC requirements, it effectively reduces tracking time and unnecessary costs.

About Cortellis CMC Intelligence

Cortellis CMC Intelligence curates and tracks official CMC regulations and local practices for more than 135+ countries, territories and organizations for small molecules and 64 countries, territories and regions for biologics, with pre-and post-approval module coverage. Robust data is available for 25+ product and regulatory-related filters based on eCTD structure, including 6K+ source documents and over 2K links to Cortellis Regulatory Intelligence, providing access to expanded detail and in-depth summaries from experts in local regulatory practices, paired with reference source documents, to offer a complete picture. The addition of a new post-approval module now makes a comprehensive CMC solution with complete lifecycle information for drugs and biologics to increase submission rates and avoid costly delays. To learn more about Cortellis CMC Intelligence, visit here.

About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com 

Media Contact:
Luna Ivkovic
External Communications, Life Sciences & Healthcare
newsroom@clarivate.com

PR Newswire

New market update: February 2023

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Concordia Maritime has published a new market update

GOTHENBURG, Sweden, Feb. 3, 2023 /PRNewswire/ — The report is available at www.concordiamaritime.com. In addition to commentary from CEO Erik Lewenhaput, it also contains data and statistics regarding both tanker rates, ship values and the development of the global product tanker fleet, as well as data about the demand for oil and development of inventory levels.

For more information, please contact:
Erik Lewenhaupt 
CEO, Concordia Maritime AB  
0704-855 188 
erik.lewenhaupt@concordiamaritime.com

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PR Newswire

EQT sets target fund size for EQT Infrastructure VI at EUR 20 billion

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STOCKHOLM, Sept. 1, 2022 /PRNewswire/ — EQT has today set the target size for the EQT Infrastructure VI fund at EUR 20 billion. The actual fund size is dependent on the outcome of the fundraising process and may be higher or lower than the target size. The EQT Infrastructure VI fund’s investment strategy and commercial terms are expected to be materially in line with the predecessor fund EQT Infrastructure V.

To ensure continuity between two fund generations, EQT’s capital raisings usually follow a cycle with successor funds targeted to be in a position to commence investment activities when the predecessor fund is close to being fully invested. This means that the commitment period of the predecessor fund typically ends when approximately 80 to 90 percent of its total commitments are invested, with remaining commitments being available primarily for add-on acquisitions and strategic capital injections as well as for ongoing expenses. 

Management fees for the EQT Infrastructure VI fund will be charged from the earlier of (i) the date of signing of its first investment; or (ii) the date of termination of the commitment period of the EQT Infrastructure V fund. Management fees on the EQT Infrastructure V fund will thereafter be based on net invested capital.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

THIS IS INFORMATION THAT EQT AB (PUBL) IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION. THE INFORMATION WAS SUBMITTED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSON SET OUT BELOW AT 21:00 CET ON 31 AUGUST 2022.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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PR Newswire

Communiqué from the Annual General Meeting and statutory meeting of the Board of Directors of Mycronic AB (publ)

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STOCKHOLM, May 6, 2022 /PRNewswire/ — The Annual General Meeting of Mycronic AB (publ) was held on May 5, 2022. The Annual General Meeting was carried out with the physical presence of shareholders and representatives. The shareholders were also allowed to exercise their voting rights prior to the general meeting by advance voting, so-called postal voting.

The following decisions were made at the Annual General Meeting. 

Income statements and balance sheets
The Annual General Meeting adopted the income statement and the balance sheet and the consolidated income statement and the consolidated balance sheet for the financial year 2021.

Dividend
The Annual General Meeting resolved, in accordance with the Board of Directors’ proposal, on an ordinary dividend of SEK 3.00 per share. The record date for receiving dividend was set to May 9, 2022, and the dividend is expected to be distributed on May 12, 2022.

Discharge from liability
The members of the Board of Directors and the CEO were discharged from liability for the administration of the company during the financial year 2021.

Election of members of the Board of Directors etcetera
The Annual General Meeting resolved, in accordance with the nomination committee’s proposal, that the Board of Directors for the period running up until the end of the next Annual General Meeting shall be composed of seven ordinary members with no deputy members. 

The Annual General Meeting re-elected, in accordance with the nomination committee’s proposal, Patrik Tigerschiöld, Arun Bansal, Anna Belfrage, Katarina Bonde, Staffan Dahlström and Robert Larsson, and new-elected Bo Risberg as members of the Board of Directors for the period running up until the end of the next Annual General Meeting. Patrik Tigerschiöld was re-elected Chairman of the Board of Directors.

Election of auditor
The Annual General Meeting resolved, in accordance with the nomination committee’s proposal, that one registered accounting firm shall be elected as auditor for the period running up until the end of the next Annual General Meeting.

The Annual General Meeting re-elected, in accordance with the nomination committee’s proposal, the auditing firm Ernst & Young as auditor for the period running up until the end of the next Annual General Meeting.

The Authorized Public Accountant, Erik Sandström, will be the responsible auditor.

Board of Directors’ and auditors’ fees
The Annual General Meeting resolved, in accordance with the nomination committee’s proposal, on remuneration to the Board of Directors of a total of SEK 3,395,000 for the period running up until the end of the next Annual General Meeting to be distributed as follows. The Chairman of the Board of Directors shall receive a raised remuneration amounting to SEK 850,000 and each of the six other members of the Board of Directors shall receive a raised remuneration amounting to SEK 340,000. In addition, the Annual General Meeting resolved that remuneration to the Chairman of the audit committee shall be raised to SEK 125,000 and that remuneration to each of the other members of the audit committee shall be raised to SEK 75,000. Furthermore, remuneration to the Chairman of the remuneration committee shall be raised to SEK 100,000 and remuneration to each of the other members of the remuneration committee shall be raised to SEK 65,000.

The Annual General Meeting resolved, in accordance with the nomination committee’s proposal, that the auditor’s fee shall be taken on current account for the period running until the end of the next Annual General Meeting.

Approval of the remuneration report
The Annual General Meeting approved the Board of Directors’ remuneration report pursuant to Chapter 8, Section 53 a of the Swedish Companies Act.

Guidelines for remuneration to senior executives
The Annual General Meeting resolved to adopt guidelines for remuneration to senior executives in accordance with the Board of Directors’ proposal.

Principles for the appointment of a nomination committee
The Annual General Meeting resolved, in accordance with the nomination committee’s proposal, that the nomination committee for the Annual General Meeting 2023 shall consist of three members representing the three largest owner-registered or otherwise known shareholders at the end of August and the Chairman of the Board of Directors, a total of four members.

Authorization to resolve on issue of new shares
The Annual General Meeting resolved, in accordance with the Board of Directors’ proposal, to authorize the Board of Directors to, on one or several occasions, during the period up until the next Annual General Meeting, resolve on an issue of new shares with deviations from the shareholders’ preferential rights. The issue price shall be determined on marketable grounds and the number of issued shares may not exceed ten percent of the total number of outstanding shares in the company per the date of the notice to the Annual General Meeting 2022.

Authorization to resolve on acquisition of the company’s own shares
The Annual General Meeting resolved, in accordance with the Board of Directors’ proposal, to authorize the Board of Directors to, on one or several occasions, during the period up until the next Annual General Meeting, resolve to acquire the company’s own shares. Acquisition of shares in the company may only be made on Nasdaq Stockholm (the “Exchange”). Acquisition may only be made by a maximum of so many shares that, at any given time, the company’s own holdings do not exceed five percent of all shares in the company. Acquisition of shares on the Exchange may only take place at a price within the price range recorded on the Exchange at any given time.

Long-term incentive program 2022 (LTIP 2022)
The Annual General Meeting resolved, in accordance with the Board of Directors’ proposal, to introduce a long-term performance share program (LTIP 2022) aimed at certain key employees. The intention with LTIP 2022 is to encourage personal long-term ownership in Mycronic as well as to increase and enhance its ability to recruit, retain and motivate employees. The intention is also to use LTIP 2022 to unite the interest of the employees with the interests of shareholders.

The proposal was divided into four items:

A. Terms of LTIP 2022

B. Transfer of the company’s own shares under LTIP 2022 and hedging activities

C. Hedging of LTIP 2022 via an equity swap agreement with a third party

D. Other matters related to LTIP 2022

The Annual General Meeting approved the terms of LTIP 2022, in accordance with item A above, as well as transfer of the company’s own shares under LTIP 2022 and hedging activities in accordance with item B above.

LTIP 2022 is directed towards a maximum of 70 employees, divided in three categories of participants:

CEO (maximum 1 person)

Management Group (maximum 10 persons)                                                                                     

Other key employees (maximum 59 persons)

Participants will, after a qualification period, be given the opportunity to receive allotment of ordinary shares in Mycronic at no consideration. The number of shares allotted will depend on fulfilment of certain performance targets. Allotment of shares within LTIP 2022 will be made during a limited period of time following the Annual General Meeting 2025. The period up to this date is referred to as the qualification period. A condition for the participant to receive allotment of shares is that the participant remains an employee of the Mycronic Group during the full qualification period up until allotment. Allotment of shares also requires that the EPS performance targets are fulfilled.

The intention is to launch LTIP 2022 as soon as practically possible after the Annual General Meeting 2022. The term of LTIP 2022 is more than three years. LTIP 2022 will comprise a maximum of 125,500 shares in total, which corresponds to 0.13 percent of the total outstanding shares and votes in the company on a fully diluted basis.

Statutory meeting of the Board of Directors
At the statutory meeting of the Board of Directors that was held after the Annual General Meeting 2022, the Board of Directors resolved to appoint as members of the remuneration committee Patrik Tigerschiöld, Arun Bansal and Robert Larsson, and as members of the audit committee Anna Belfrage, Katarina Bonde and Staffan Dahlström.

Furthermore, the Board of Directors resolved, based on the authorization given by the Annual General Meeting 2022, to acquire a maximum of so many of the company’s own shares that, at any given time, the company’s own holdings does not exceed five percent of all shares in the company. The purpose of the acquisition is to enable delivery of shares to participants in LTIP 2022 and to be able to continuously adjust the company’s capital structure to the company’s capital requirements.

The Board of Directors’ resolution may be executed up until the next Annual General Meeting. Acquisition shall be made on the Exchange and shall take place at a price per share which is within the price range recorded on the Exchange at any given time. Payment for the shares shall be made in cash.

For additional information, please contact:
Sven Chetkovich
Director Investor Relations
Tel: +46 70 558 39 19
E-mail: sven.chetkovich@mycronic.com

The information in this press release was published on May 5, 2022, at 8:00 p.m. CEST.

About Mycronic
Mycronic is a Swedish high-tech company engaged in the development, manufacture and marketing of production equipment with high precision and flexibility requirements for the electronics industry. Mycronic’s headquarters are located in Täby, north of Stockholm and the Group has subsidiaries in China, France, Germany, Japan, the Netherlands, Singapore, South Korea, United Kingdom and the United States. Mycronic is listed on Nasdaq Stockholm. www.mycronic.com

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PR Newswire

SK TELECOM CO. LTD. FILES ITS ANNUAL REPORT ON FORM 20-F

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SEOUL, South Korea, April 29, 2022 /PRNewswire/ — On April 28, 2022, SK Telecom Co., Ltd. filed its Annual Report on Form 20-F for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission. The 2021 Annual Report on Form 20-F can be viewed on www.sktelecom.com, as well as from the website of the U.S. Securities and Exchange Commission at www.sec.gov. Printed copies of SK Telecom’s complete audited financial statements (including footnotes) as of and for the year ended December 31, 2021 can be requested, free of charge, by written request to skt.ir@sk.com.

Cision View original content:https://www.prnewswire.com/news-releases/sk-telecom-co-ltd-files-its-annual-report-on-form-20-f-301535973.html

PR Newswire

Ericsson Annual Report on Form 20-F filed with the SEC

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STOCKHOLM, March 26, 2022 — On March 25, 2022, Ericsson (NASDAQ: ERIC) filed its Annual Report on Form 20-F for the year ended December 31, 2021, with the U.S. Securities and Exchange Commission (SEC).

The Annual Report is available on Ericsson’s website at https://www.ericsson.com/en/investors. Shareholders may request a hard copy of the Annual Report by contacting the company.

FOLLOW US:

Subscribe to Ericsson press releases here.

www.twitter.com/ericsson
www.facebook.com/ericsson
www.linkedin.com/company/ericsson

MORE INFORMATION AT:
Ericsson Newsroom

media.relations@ericsson.com
(+46 10 719 69 92)

investor.relations@ericsson.com
(+46 10 719 00 00)

About Ericsson
Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

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https://news.cision.com/ericsson/r/ericsson-annual-report-on-form-20-f-filed-with-the-sec,c3533077

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Ericsson Annual Report on Form 20-F filed with the SEC
PR Newswire

Ericsson Annual Report 2021 published

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  • Annual Report 2021 available for download and printed version available for order        
  • The Annual Report 2021 publication consists of Ericsson’s Financial report 2021, the Corporate Governance Report 2021, the Remuneration Report 2021 and the Sustainability and Corporate Responsibility Report 2021

STOCKHOLM, March 5, 2022 — The Ericsson (NASDAQ: ERIC) Annual Report 2021 is now available to download from the Ericsson web site: www.ericsson.com/en/investors/. Printed copies of the Annual Report 2021 will be available for order by filling in the form on this page: www.ericsson.com/en/investors/finansiella-rapporter-och-filings/order-annual-report

The Swedish Annual Report 2021 is also available on Ericsson’s website in European Single Electronic Format (ESEF).

Update – legal proceedings

After the annual report was finalized on March 3, 2022, Ericsson learned that Telefonaktiebolaget LM Ericsson and certain officers of Ericsson were named as defendants in a putative class action filed in the United States District Court for the Eastern District of New York. The complaint alleges violations of United States securities laws, in connection with allegedly false and misleading statements principally concerning the Company’s adherence with its compliance and disclosure policies and obligations and the conduct of its business in Iraq. 

For further information, please visit the Investor Relations pages: https://www.ericsson.com/en/investors

NOTES TO EDITORS:

FOLLOW US:

Subscribe to Ericsson press releases here.

Subscribe to the Ericsson Blog here.

https://www.twitter.com/ericsson
https://www.facebook.com/ericsson
https://www.linkedin.com/company/ericsson

FOR FURTHER INFORMATION, PLEASE CONTACT:

Contact person

Peter Nyquist, Head of Investor Relations
Phone: +46 705 75 29 06
E-mail: peter.nyquist@ericsson.com

Investors

Lena Häggblom, Director, Investor Relations
Phone: +46 72 593 27 78
E-mail: lena.haggblom@ericsson.com

Stefan Jelvin, Director, Investor Relations
Phone: +46 709 86 02 27
E-mail: Stefan.jelvin@ericson.com

Media

John Moorwood, Head of Global Media
Phone: +44 79 093 249 18
E-mail: media.relations@ericsson.com

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

About Ericsson

Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

This information is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 04:30 PM CET on March 4, 2022.

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Ericsson Annual Report 2021 published
PR Newswire

Retailo Raises $36M million in Landmark Series A Round For Empowering Community Commerce in MENA Region

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MENA’s fastest growing B2B start-up focusing on regional expansion and many new initiatives to carry momentum forward

RIYADH, Saudi Arabia, Feb. 2, 2022 — Retailo, the fastest growing startup in Middle East, North Africa, and Pakistan (MENAP) which is digitizing the region’s retail supply chains, has raised $36 million in its Series A investment round which was a mix of equity and venture debt. Retailo is a regional B2B marketplace in MENAP and has raised a total investment of $45 million in less than 1.5 years of operations, a landmark for any startup in the region.

 

Retailo’s Co-founders (from L-R) Muhammad Nowkhaiz, Talha Ansari and Wahaj Ahmed.
Retailo’s Co-founders (from L-R) Muhammad Nowkhaiz, Talha Ansari and Wahaj Ahmed.

 

Retailo’s Series A round has attracted leading investors with proven track records of impactful investments. The round was led by Silicon Valley based Graphene Ventures which was an investor of tech giants Snapchat and Lyft.

For Retailo’s Series A, Graphene is joined by leading investors that include 500 Global, Agility, Aujan, Tech Invest Com and Mentor’s Fund, all of which have the relevant exposure and investments in the retail industry’s technology companies. The venture debt was raised from Nahda Fund – one of the Middle East’s first venture debt funds which is backed by IMM Investment Global, based in Hong Kong. Additionally, Shorooq Partners, Abercross Holdings, Arzan VC, AgFunder also participated in the round as repeat investors which demonstrates their continuing belief in Retailo’s successful future.

Retail in MENAP is a $500 billion industry which consists of over 10 million small businesses to serve a population of more than 700 million consumers. However, the majority of this retail industry is informal and undigitized. Small businesses have to rely on inefficient supply chains and limited financial resources while operating on impossible margins. Retailo aims to champion these small business owners by building a suite of technologies around them. The company has begun this via their B2B community commerce platform which is used by over 50,000 retailers monthly.

On Retailo’s mobile platform, small businesses can find a wide catalogue of over 5,000 SKUs which are delivered to their doorstep in less than 24 hours. They can also avail Buy-now-pay-later (BNPL) services, which give them flexible payment options and credit lines. By providing timely supply, competitive rates, and easy credit, Retailo is able to address the needs of retailers and significantly improve their business.

To offer a one-stop shop solution, Retailo (https://retailo.co) directly works with hundreds of leading local, regional and global brands. Retailo also optimizes end-to-end logistics in the supply chain via efficient warehousing operations and smart fleet management solutions. Leveraging its wide regional presence, Retailo has recently begun offering its sellers a cross-border distribution platform across the three biggest markets in the region: KSA, UAE and Pakistan. Retailo also provides data analytics services to sellers to help them evaluate sales performance and consumption trends.

Headquartered in Riyadh, Retailo was founded by former Careem executives Talha Ansari, Wahaj Ahmed and Mohammad Nowkhaiz in July 2020 with a unique regional launch. Growth has been quick and in only 18 months Retailo has scaled to 10+ cities in 3 countries: KSA, UAE and Pakistan. "The multi-market strategy from day one was unconventional and challenging. Covid made it even more so. But now Retailo is a scalable organization with hundreds of millions of dollars in annualized revenue and colleagues from multiple nationalities and diverse backgrounds who have left leading institutions like Amazon, Delivery Hero and Goldman Sachs to fulfil Retailo mission in building technology that empowers 10 million retailers in the region," said Himag Vaidya, Retailo’s Head of Strategy.

Nabil A. Borhanu, partner at Graphene Ventures said, "We are impressed with what Retailo has achieved in an astonishingly short time. Their vision is both ambitious and inspiring and we believe that partnering with them is a sound business investment and also a chance to truly improve the lives of millions of people."    

The Series A funding will help Retailo move into the next phase of expansion into new geographies, verticals and products. "As global supply chains come under stress pushing up commodity prices and depressing GDP growth, the value of smart supply chains becomes even more important," said Retailo’s CEO Talha Ansari. "The retail sector serves 700 million persons in MENAP, contributes almost 20% to the GDP and employs tens of millions. By providing technology solutions to this underserved market, we are not only improving lives but also uplifting the economy of the entire MENAP region."

For further information, please contact:
Sibtain Naqvi
Director Strategic Communications
Retailo Technologies
Email: sibtain.naqvi@retailo.co
+923062497523

PR Newswire

Ericsson reports fourth quarter and full-year results 2021

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STOCKHOLM, Jan. 25, 2022 —

Fourth quarter highlights           

  • Group organic sales grew by 2% YoY. Sales in Mainland China declined by SEK -1.8 b. (-3 percentage points), meaning that excluding Mainland China organic sales growth was 5%. Reported sales were SEK 71.3 (69.6) b.            
  • Gross margin improved in all segments to 43.5% (40.6%) excluding restructuring charges. Reported gross margin was 43.2% (40.6%).           
  • EBIT excluding restructuring charges improved to SEK 12.3 b. (17.3% EBIT margin) from SEK 11.0 b. (15.8% EBIT margin) YoY. Reported EBIT was SEK 11.9 (11.0) b.           
  • Networks organic sales increased by 3%, despite significant market share loss in Mainland China. EBIT margin excluding restructuring charges was 23.6% (21.5%).            
  • Digital Services organic sales were flat and EBIT excluding restructuring charges was SEK 0.4 (0.5) b.           
  • Reported net income was SEK 10.1 (7.2) b. EPS diluted was SEK 3.02 (2.26).             

Full-year highlights           

  • Group organic sales grew by 4%, with an increase in Networks sales of 7%. Reported sales were stable at SEK 232.3 b. The loss of market share in Mainland China impacted sales by SEK -7.7 b. and the growth rate by -3 percentage points, meaning that excluding Mainland China, organic sales growth was 8%.           
  • Gross margin excl. restructuring charges was 43.5% (40.6%), driven primarily by strengthened operational leverage in Networks.           
  • EBIT margin excluding restructuring charges improved to 13.9% (12.5%), reaching the 2022 group target already in 2021.           
  • Reported net income was SEK 23.0 (17.6) b. EPS diluted was SEK 6.81 (5.26).           
  • Free cash flow before M&A amounted to SEK 32.1 (22.3) b. Net cash was SEK 65.8 (41.9) b. on December 31, 2021.           
  • The Board of Directors will propose a dividend for 2021 of SEK 2.50 (2.00) per share to the AGM.

SEK b.

Q4
2021

Q4
2020

YoY
change

Q3
2021

QoQ
change

Jan-Dec
2021

Jan-Dec
2020

YoY

change

Net sales

71.3

69.6

3%

56.3

27%

232.3

232.4

0%

     Sales growth adj. for comparable units and currency [1] 

–

–

2%

–

–

–

–

4%

Gross margin [1] 

43.2%

40.6%

–

44.0%

–

43.4%

40.3%

–

EBIT 

11.9

11.0

8%

8.8

34%

31.8

27.8

14%

EBIT margin [1] 

16.6%

15.8%

–

15.7%

–

13.7%

12.0%

–

Net income 

10.1

7.2

41%

5.8

76%

23.0

17.6

30%

EPS diluted, SEK 

3.02

2.26

34%

1.73

75%

6.81

5.26

29%

Measures excl. restructuring charges [1]

Gross margin excluding restructuring charges 

43.5%

40.6%

–

44.0%

–

43.5%

40.6%

–

EBIT excluding restructuring charges 

12.3

11.0

12%

8.8

39%

32.3

29.1

11%

EBIT margin excluding restructuring charges 

17.3%

15.8%

–

15.7%

–

13.9%

12.5%

–

Free cash flow before M&A 

13.5

12.8

6%

13.0

4%

32.1

22.3

44%

Net cash, end of period 

65.8

41.9

57%

55.7

18%

65.8

41.9

57%

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

Comments from Börje Ekholm, President and CEO of Ericsson (NASDAQ:ERIC)

Our strategy to invest in technology leadership and grow market share in our core business underpinned a robust financial performance in 2021 and ensured a good Q4 for Ericsson overall. Our commitment to pursue value from growth in wireless enterprise took a significant step forward with the announcement of our ambition to acquire Vonage, which will give us the foundation to develop a Global Network Platform to drive innovation on top of the 5G networks. This adds to already strong progress in 2021 in our organic enterprise portfolio – Dedicated Networks and IoT – and follows the successful integration of Cradlepoint. With a full-year EBIT margin[2] of 13.9%, we reached our 2022 target one year early, while absorbing significantly increased investments in R&D, Enterprise, cybersecurity and compliance. Fourth quarter organic sales[1] grew by 2%, gross margin[2] improved to 43.5% (40.6%), the EBIT margin[2] reached 17.3% (15.8%) and free cash flow before M&A amounted to SEK 13.5 (12.8) b.

Networks sales[1] grew organically by 3% in Q4, despite considerably lower volumes in Mainland China. Gross margin[2] improved to 46.4% (43.5%). The 2021 financial performance and continued market share gains outside of Mainland China are underpinned by our investments in technology leadership. We have so far been able to mitigate the inflationary pressure by continuously evolving our product portfolio. We strengthened our industry-leading portfolio during the year with ultra-light, energy-efficient Massive MIMO radios for enhanced network performance and our new Cloud RAN portfolio for 5G mid band.

In Q4, Digital Services organic sales[1] were stable YoY. Excluding sales in Mainland China, where we had considerably lower volumes, sales[1] increased by 3% YoY in the fourth quarter. Fourth quarter gross margin[2] improved to 43.4% (41.0%) with a positive EBIT[2] of SEK 0.4 b. During 2021 we continued to invest in R&D, particularly for the cloud native offerings and our portfolio is now substantially transformed compared with a few years ago. We will continue to increase investments in our 5G portfolio, including in our orchestration offerings, to further strengthen our long-term competitiveness and position us in an open world for future standards and technologies. We expect profitability to gradually improve and over time exceed our original EBIT margin[2] target of 10–12%.

Managed Services delivered a gross margin[2] of 18.9% (17.7%) in Q4. For the full year of 2021 organic sales[1] declined by -6% as new deals did not offset lower customer demand, contract rescoping and planned exits. To grow profits, we will accelerate the ongoing transformation towards a more software-driven offering with higher margin potential.

Emerging Business and Other delivered an improved gross margin[2] of 35.2% (33.8%) in Q4. For full-year 2021, gross margin[2] improved to 37.3% (28.0%), where Cradlepoint’s performance is the main contributor. We are seeing increasing momentum for our 5G portfolio in Dedicated Networks and Cradlepoint.

IPR revenues amounted to SEK 2.4 (2.6) b., including a new smaller agreement with retroactive impact. With our strong position in 5G and leading, broad patent portfolio we believe we are well positioned to conclude pending and future patent license renewals. Ericsson’s IPR licensing revenues continue to be affected by several expiring patent license agreements pending renewal and 5G license negotiations. This will lead to estimated revenues from IPR licensing of SEK 1.0–1.5 b. in Q1, unless renewals are signed in the first quarter. The actual financial impact will depend on the timing as well as terms and conditions of new agreements.

In October, we received correspondence from the Department of Justice that we had breached our obligations under the Deferred Prosecution Agreement by failing to provide certain documents and factual information. At this point in time, we cannot provide further information or predict the outcome. We continue to invest in improving our Ethics and Compliance program in accordance with our strategy and objectives. We are firmly committed to continuously develop and improve in the years to come to ensure a sustainable compliance program.

Free cash flow before M&A was SEK 32.1 (22.3) b. for full-year 2021, the highest in Ericsson’s history, further strengthening the net cash position to SEK 65.8 (41.9) b. During the last few years, our strategy has been to increase the flexibility of our business and reduce the capital tied up in the business. Consequently, we are now able to operate the Company with less capital than in the past. The Board will propose a dividend of SEK 2.50 (2.00) per share to the AGM, underlining the confidence in Ericsson’s business going forward.

Based on current business momentum, we expect fundamentals to remain strong in our core mobile infrastructure business during 2022. We will continue to increase investments in R&D to sustain our technology leadership and strengthen our competitive position to take advantage of the rollout of 5G networks. At the same time, we will continue our efforts to expand our presence in the enterprise market. Over time, we expect the enterprise segment to provide higher growth and profitability than our mobile infrastructure business. The Group EBIT target[2] for 2022 of 12-14% remains, excluding the Vonage-related segment. With the different business mix compared to when we set the 2022 target back in 2018, the target becomes less relevant, and our key focus is therefore now to accelerate the pace towards reaching our long-term target of EBITA margin[2] of 15-18%. After delivering an EBITA margin[2] of 14.6% in 2021, our ambition is to reach the long-term target no later than in 2-3 years. At that time, we will have a higher growth profile as a company.

2021 was a successful year for Ericsson and I want to take this opportunity to thank all my colleagues who relentlessly delivered on customer commitments while navigating through supply chain challenges and a raging pandemic. I am proud to be part of this team!

Stay healthy and well.

Börje Ekholm

President and CEO

[1] Sales adjusted for comparable units and currency

[2] Excluding restructuring charges

NOTES TO EDITORS

You find the complete report with tables in the attached PDF or by following this link https://www.ericsson.com/assets/local/investors/documents/financial-reports-and-filings/interim-reports-archive/2021/12month21-en.pdf or on www.ericsson.com/investors

Video webcast for analysts, investors and journalists

President and CEO Börje Ekholm and CFO Carl Mellander will comment on the report and take questions at a live video webcast at 9:00 AM CET (8:00 AM GMT London, 3:00 AM EST New York).

To join the webcast, please go to www.ericsson.com/investors

To ask a question, please call:

Sweden: +46 (0)8 566 426 51 (Toll-free Sweden: 0200 883 685)

International/UK: +44 (0)333 300 0804 (Toll-free UK: 0800 358 9473)

US: +1 631 913 1422 (Toll-free US: +1 855 85 70686)

PIN code: 67215644#

Please call in at least 15 minutes before the webcast starts.

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

Peter Nyquist, Head of Investor Relations
Phone: +46 705 75 29 06
E-mail: peter.nyquist@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

Stefan Jelvin, Director, Investor Relations
Phone: +46 709 86 02 27
E-mail: stefan.jelvin@ericsson.com

Media

Kristoffer Edshage, Director Corporate Media
Phone: +46 722 20 44 46
E-mail: media.relations@ericsson.com

Corporate Communications
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. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CET on January 25, 2022.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ericsson/r/ericsson-reports-fourth-quarter-and-full-year-results-2021,c3491742

The following files are available for download:

https://mb.cision.com/Main/15448/3491742/1524646.pdf

Ericsson fourth quarter and full year report 2021

 

PR Newswire

Buybacks of series B shares in AB Electrolux during week 52, 2021

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STOCKHOLM, Jan. 4, 2022 — During the period December 27 – December 30, 2021 AB Electrolux (LEI code 549300Y3HHZB1ZGFPJ93) has repurchased in total 342,312 own series B shares (ISIN: SE0016589188) as part of the buyback program initiated by the Board of Directors in order to optimize the company’s capital structure.

The share buybacks form part of the buyback program of a maximum of 9,369,172 series B shares for a total maximum amount of SEK 2,800 million, which AB Electrolux announced on October 27, 2021. The buyback program, which runs between October 28, 2021 – March 25, 2022, is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation 2016/1052 (the "Safe Harbour Regulation"). The objective of the share buybacks is to optimize the company’s capital structure and the intention is to reduce Electrolux share capital through subsequent share cancellations.

Series B shares in AB Electrolux have been repurchased (in SEK) as follows:

                                   

                                   

Date

                                   

Aggregated daily volume (number of shares)

                                   

Weighted average share price per day (SEK)

                                   

Total daily transaction value (SEK)

                                               

                                   

27/12/2021

 

85,578

 

217.9952

 

18,655,593.23

 

                                   

28/12/2021

 

85,578

 

219.4466

 

18,779,801.13

 

                                   

29/12/2021

 

85,578

 

218.6359

 

18,710,423.05

 

                                   

30/12/2021

 

85,578

 

218.7070

 

18,716,507.65

 

All acquisitions have been carried out on Nasdaq Stockholm by Exane BNP Paribas on behalf of AB Electrolux. Following the above acquisitions, AB Electrolux holding of own shares as of December 30, 2021 amounts to 25,842,915 series B shares. The total number of shares in AB Electrolux amounts to 308,920,308.

A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

For further information, please contact:
Sophie Arnius, Head of Investor Relations, +46 70 590 80 72
Rupini Bergström, Electrolux Press Hotline, +46 8 657 65 07
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/electrolux/r/buybacks-of-series-b-shares-in-ab-electrolux-during-week-52–2021,c3480956

The following files are available for download:

https://mb.cision.com/Main/1853/3480956/1516680.pdf

Pressrelease 20220103 Electrolux repurchased shares week 52

https://mb.cision.com/Public/1853/3480956/82ae308c88b7906c.pdf

Bilaga Appendix – full breakdown of AB Electrolux buyback transactions week 52 2021