Also in today's EMEA regional roundup: Vodafone abandons Maltese merger; Sheffield sticks the knife into Uber; Türk Telekom's TV ambitions.

Paul Rainford, Assistant Editor, Europe

December 8, 2017

4 Min Read
Eurobites: Ericsson Restates Its Financials, Warns of Impairment Charges

Also in today's EMEA regional roundup: Vodafone abandons Maltese merger; Sheffield sticks the knife into Uber; Türk Telekom's TV ambitions.

  • As it said it would do earlier in the year, Ericsson AB (Nasdaq: ERIC) has restated its financials according to its four new reporting segments, which are Networks, Digital Services, Managed Services and Other. The vendor has today disclosed the restated financials for full years 2015 and 2016, and the first three quarters of 2017. Here are those restated numbers in full:

    Net sales SEK million

    2017 Q1 - Q3

    2016

    2015

    Networks

    91,781

    140,984

    157,791

    Digital Services

    28,116

    45,298

    49,443

    Managed Services

    18,309

    27,501

    30,597

    Other

    5,898

    8,825

    9,089

    Total

    144,104

    222,608

    246,920

    Source: Ericsson

    Operating income, reported SEK million

    2017 Q1 - Q3

    2016

    2015

    Networks

    6,017

    17,570

    28,290

    Digital Services

    -15,232

    -6,663

    -3,389

    Managed Services

    -2,972

    -507

    -19

    Other

    -6,183

    -4,101

    -3,077

    Total

    -18,370

    6,299

    21,805

    Source: Ericsson

    Operating income, adjusted* SEK million

    2017 Q1 - Q3

    2016

    2015

    Networks

    12,992

    20,983

    31,055

    Digital Services

    -6,854

    -3,487

    -1,514

    Managed Services

    -752

    -125

    219

    Other

    -4,052

    -3,505

    -2,915

    Total

    1,334

    13,866

    26,845

    * The numbers exclude restructuring charges and are adjusted for certain other items affecting comparability in 2017. Source: Ericsson

    Ericsson also warned of potential impairment charges in the Digital Services and Other segments, though it says these would not affect cash flow.

    • Vodafone Group plc (NYSE: VOD) has abandoned plans to merge its Maltese unit with Melita Group , saying that the two parties were unable to satisfy the requirements of the Maltese Competition Authority.

    • The northern English city of Sheffield has followed in the footsteps of London by refusing to renew the operating license of Uber, the app-powered cab-hailing company. As Reuters reports, Uber failed to respond to requests from the local authority regarding its management of the app. Uber claims the paperwork was sent to an incorrect address. The London case, meanwhile, heads to the courts next week. (See Uber Crashes Into UK Regulators, Loses London License.)

    • Türk Telekomunikasyon A.S. has its sights set on becoming the number one provider of TV in Turkey within the next five years, according to a Broadband TV News report citing Hurriyet Daily News. Its CEO, Paul Doany, says that the operator is well placed to rule the TV roost, having a fixed-line infrastructure that already covers 98% of Turkish homes.

      — Paul Rainford, Assistant Editor, Europe, Light Reading

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About the Author(s)

Paul Rainford

Assistant Editor, Europe, Light Reading

Paul is based on the Isle of Wight, a rocky outcrop off the English coast that is home only to a colony of technology journalists and several thousand puffins.

He has worked as a writer and copy editor since the age of William Caxton, covering the design industry, D-list celebs, tourism and much, much more.

During the noughties Paul took time out from his page proofs and marker pens to run a small hotel with his other half in the wilds of Exmoor. There he developed a range of skills including carrying cooked breakfasts, lying to unwanted guests and stopping leaks with old towels.

Now back, slightly befuddled, in the world of online journalism, Paul is thoroughly engaged with the modern world, regularly firing up his VHS video recorder and accidentally sending text messages to strangers using a chipped Nokia feature phone.

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