Ericsson Financial Information Restated for IFRS 15

STOCKHOLM, March 16, 2018 /PRNewswire/ -- Ericsson (NASDAQ: ERIC) announces restated consolidated income statement information, in line with the new accounting standard IFRS 15, applied as of January 1, 2018.

To facilitate year-on-year comparisons, Ericsson discloses restated financial information for full year 2016 and each quarter of 2017. The complete tables of restated financial information are available at www.ericsson.com/investors.

The transition to IFRS 15 reduced equity by SEK 2.6 billion on January 1, 2018. This is in line with the amounts estimated by the Company in the 2017 Annual Report.

The new standard impacts the timing of recognition of revenue and costs, while having no impact on cash flow. For more details on the implementation of the new standards, please see the Ericsson 2017 Annual Report note C1, page 45, "Accounting Policy – New standards and interpretations".

A comparison between IFRS 15 restated financial information and previously reported financial results for full year 2017 and 2016 is summarized in the table below.

 

Reported SEK million	2017 Full Year IFRS 15 restated	2017 Full Year reported	Change	2016 Full Year IFRS 15 restated	2016 Full Year reported	Change
Net Sales	205,378	201,303	4,075	220,316	222,608