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    ERIC B   SE0000108656

ERICSSON

(ERIC B)
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Ericsson : says U.S. DOJ advises it breached obligations under DPA

10/21/2021 | 07:49pm EST
FILE PHOTO: The Ericsson logo is seen at the Ericsson's headquarters in Stockholm

Oct 21 (Reuters) - Swedish telecommunications equipment maker Ericsson said Friday it received correspondence from U.S. Department of Justice stating that the company breached its obligations under a Deferred Prosecution Agreement (DPA) by failing to provide certain documents and factual information.

In 2019, Ericsson entered into an agreement to pay over $1 billion to resolve probes into corruption, including the bribing of government officials.

The bribery took place over many years in countries including China, Vietnam and Djibouti, the U.S. Department of Justice said. https://reut.rs/3CbwP48

Ericsson said on Friday that at this stage it is premature to predict the outcome of these developments and it intends to cooperate with the DOJ. https://cisn.co/3C62SlS

A spokesperson for DOJ did not respond immediately to a request for comment.

In December, 2019, the company admitted it had conspired with others to violate the Foreign Corrupt Practices Act (FCPA) from at least 2000 to 2016 by engaging in a scheme to pay bribes and to falsify books and records and by failing to implement reasonable internal accounting controls, the Justice Department said. (Reporting by Aakriti Bhalla in Bengaluru Editing by Shri Navaratnam and Richard Pullin)


© Reuters 2021
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Financials
Sales 2021 230 B 25 166 M 25 166 M
Net income 2021 18 892 M 2 064 M 2 064 M
Net cash 2021 48 507 M 5 300 M 5 300 M
P/E ratio 2021 16,4x
Yield 2021 2,28%
Capitalization 309 B 33 939 M 33 769 M
EV / Sales 2021 1,13x
EV / Sales 2022 1,04x
Nbr of Employees 102 203
Free-Float 89,6%
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Number of Analysts 22
Last Close Price 92,76 SEK
Average target price 126,17 SEK
Spread / Average Target 36,0%
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Managers and Directors
Erik Börje Ekholm President, Chief Executive Officer & Director
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Ronnie Leten Chairman
Erik Ekudden Chief Technology Officer & Senior Vice President
Xavier Dedullen Secretary, Chief Legal Officer & Senior VP
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