Ericsson: heavy impairment announced for Vonage
(CercleFinance.com) - Ericsson announces that it will record a non-cash impairment charge of 32bn SEK (about E2.
8bn) for Q3 2023, i.e. 50% of the goodwill and other intangible assets allocated to Vonage.
The reason for the impairment is the significant decline in the market capitalisation of Vonage's listed peers, rising interest rates and the general slowdown in Vonage's main markets.
Ericsson also announces the key points of its Q3 results, with an EBITA margin excluding restructuring charges of 7.3%, in line with its previous forecasts, on revenues that are down 5% to 64.5bn SEK.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
8bn) for Q3 2023, i.e. 50% of the goodwill and other intangible assets allocated to Vonage.
The reason for the impairment is the significant decline in the market capitalisation of Vonage's listed peers, rising interest rates and the general slowdown in Vonage's main markets.
Ericsson also announces the key points of its Q3 results, with an EBITA margin excluding restructuring charges of 7.3%, in line with its previous forecasts, on revenues that are down 5% to 64.5bn SEK.
Copyright (c) 2023 CercleFinance.com. All rights reserved.