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Ericsson (ERIC) investor relations material

Ericsson Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary14 Oct, 2025

Executive summary

  • Q3 2025 delivered strong operational and strategic execution, with major customer agreements in Japan, Europe, India, and the UK, and technology leadership in 5G Open RAN.

  • Organic sales declined 2% year-over-year, with growth in three of four market areas; Americas saw reduced sales after strong Q3 2024.

  • Adjusted EBITA margin reached a three-year high at 14.7% (excluding iconectiv gain), reflecting cost efficiency and operational excellence.

  • Iconectiv divestment contributed a SEK 7.6 billion capital gain, boosting profitability and cash position.

  • Recurring cash flow and divestments support potential for increased shareholder returns.

Financial highlights

  • Net sales in Q3 were SEK 56.2 billion, down 9% year-over-year; organic sales declined 2% year-over-year.

  • Adjusted gross margin improved to 48.1% (from 46.3%); EBITDA/EBITA margin reached 14.7% (excluding iconectiv gain), a three-year high.

  • Net income rose to SEK 11.3 billion, up from SEK 3.9 billion in Q3 2024, driven by the iconectiv divestment.

  • Free cash flow before M&A was SEK 6.6 billion, down from SEK 12.9 billion in Q3 2024; net cash at SEK 51.9 billion.

  • Return on capital employed (ROCE) at 22.5% (rolling four quarters); equity ratio at 36.3%.

Outlook and guidance

  • Q4 sales growth for Networks and Cloud Software and Services expected to follow three-year average seasonality.

  • Networks adjusted gross margin guidance for Q4 is 49% to 51%.

  • Enterprise sales expected to stabilize year-over-year on an organic basis.

  • Restructuring charges for 2025 to remain elevated; ongoing cost management and flat R&D spending planned.

  • Board to propose increased shareholder distributions, with final decision at the 2026 AGM.

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Frequently asked questions

Ericsson provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through three segments: Networks, Digital Services, and Managed Services. The company also offers internet protocol television software and content acquisition services; cable access products for delivery of data, video, telephony, and business services; and mobile financial services to third-party providers of mobile payments. The company was founded in 1876 and is headquartered in Stockholm, Sweden

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