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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Ericsson AB    ERIC B   SE0000108656

ERICSSON AB

(ERIC B)
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Delayed Quote. Delayed NASDAQ OMX STOCKHOLM - 01/24 11:29:46 am
79.7 SEK   -5.75%
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Telefonaktiebolaget LM Ericsson publ : Ericsson will pay over $1 billion to resolve fraud case

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12/06/2019 | 07:37pm EST

NEW YORKSweden-based telecommunications company Ericsson will pay over $1 billion as part of a deal to resolve bribery conspiracy charges, prosecutors in New York said Friday.

Prosecutors said Ericsson and the company's subsidiary Ericsson Egypt Limited were charged with conspiring to bribe government officials, falsifying books and records and failing to implement reasonable accounting controls.

They said the charges pertained to criminal conduct that occurred in Djibouti, China, Vietnam, Indonesia and Kuwait from 2000 to 2016.

Representatives of Ericsson Egypt pleaded guilty in Manhattan federal court Friday while the parent company admitted its participation in the conspiracy and entered into a deferred prosecution agreement, prosecutors said.

As part of a related settlement with the Securities and Exchange Commission, Ericsson agreed to pay $1.06 billion in criminal and regulatory penalties, authorities said.

“Ericsson’s corrupt conduct involved high-level executives and spanned 17 years and at least five countries, all in a misguided effort to increase profits," Assistant Attorney General Brian A. Benczkowski said in a release.

U.S. Attorney Geoffrey S. Berman said Ericsson admitted to a yearslong campaign of corruption.

“Through slush funds, bribes, gifts and graft, Ericsson conducted telecom business with the guiding principle that ‘money talks,'' he added.

A message seeking comment was sent to Ericsson'sU.S. offices. In a release Thursday, the company said it expected to pay $1.2 billion to cover monetary sanctions and related costs, just as it had announced in September. It said it was not commenting beyond acknowledging it was in talks with U.S. authorities.

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (SEK)
Sales 2020 236 B
EBIT 2020 25 491 M
Net income 2020 15 658 M
Finance 2020 29 263 M
Yield 2020 2,46%
P/E ratio 2020 17,1x
P/E ratio 2021 14,1x
EV / Sales2020 1,00x
EV / Sales2021 0,92x
Capitalization 265 B
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Technical analysis trends ERICSSON AB
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TrendsBearishNeutralNeutral
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 98,39  SEK
Last Close Price 79,70  SEK
Spread / Highest target 43,0%
Spread / Average Target 23,4%
Spread / Lowest Target -3,39%
EPS Revisions
Managers
NameTitle
Erik Börje Ekholm President, Chief Executive Officer & Director
Ronnie Leten Chairman
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Erik Ekudden Chief Technology Officer & Senior Vice President
Torbjörn Nyman Director
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