Bad news for Ericsson. The Swedish telecommunications company closed the fourth quarter in the red (-6,3 billion crowns), while broadening the gaze to the whole of 2012 it profit halved on an annual basis to 5,9 billion (from 12,6 billion in 2011). The write-down of the joint venture with Stm weighs in at 8 billion.
Annual revenues remained unchanged at 227,8 billion, while they recorded a 5% growth to 66,9 billion in the fourth quarter, benefiting from the increase in investments by telephone operators in North America.
The BoD, according to a note, has proposed a dividend of 2,75 crowns per share (+10%). “Improving profitability, reducing costs and working capital remain on the agenda for 2013 as well,” commented CEO Hans Vestberg.
