Ericsson's Income Grew 5% YoY for 2020

Updated:2021/1/31 16:59

According to Ericsson’s performance reports for Q4 and full-year 2020, its net sales in 2020 increased to SEK 232.4 billion, an increase of 2% YoY; the net sales adjusted for comparable units and currency increased by 5% YoY.

In 2020, Ericsson's operating profit reached SEK 27.8 billion, a 163% increase from SEK 10.6 billion in 2019; the operating margin was 12.0%, compared with 4.6% for 2019.

In terms of net profit, Ericsson earned SEK 17.6 billion in 2020, compared with SEK 1.8 billion in 2019.

“Ericsson’s organic sales grew by 5% for full-year 2020, and our 12.5% operating margin exceeded the 2020 target, reaching the Group’s target range for the 2022 operating margin two years ahead of schedule,” announced Borje Ekholm.

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