Ericsson Lm Telephone Co 20-F for FY2021

About this 20-F

Headline figures

Ericsson Lm Telephone Co (ERIC)

20-F 2022-03-25 For: 2021-12-31

Added on April 08, 2026

Ericsson Lm Telephone Co filed this 20-F on March 25, 2022, covering the fiscal year ended December 31, 2021 (FY2021).

Large accelerated filer

Accelerated filer

Non-accelerated filer

Emerging growth company

Fiscal year ended December 31, 2021, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: 232.31B SEK; unchanged from 232.39B SEK a year earlier
Net income: 22.69B SEK; up 29.8% from net income of 17.48B SEK a year earlier
Diluted EPS: 6.81 SEK; up 29.5% from 5.26 SEK a year earlier

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Title of Each Class	Trading symbol(s)	Name of Each Exchange on which Registered
American Depositary Shares (each representing one B share) B Shares *	ERIC	The NASDAQ Stock Market LLC


B shares (SEK 5.00 nominal value)			3,072,395,752
A shares (SEK 5.00 nominal value)			261,755,983
C shares (SEK 5.00 nominal value)			0


☐ U.S. GAAP		☒		International Financial Reporting Standards as issued by the International Accounting Standards Board		☐ Other


			Page
PART I INTRODUCTION				1

ITEM 1.	IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS			1

ITEM 2.	OFFER STATISTICS AND EXPECTED TIMETABLE			1

ITEM 3.	KEY INFORMATION			1

	A	Selected Financial Data		1

	B	Capitalization and Indebtedness		1

	C	Reasons for the Offer and Use of Proceeds		1

	D	Risk Factors		1

ITEM 4.	INFORMATION ON THE COMPANY			2

	A	History and Development of the Company		2

	B	Business Overview		2

	C	Organizational Structure		3

	D	Property, Plant and Equipment		5

ITEM 4A.	UNRESOLVED STAFF COMMENTS			5

ITEM 5.	OPERATING AND FINANCIAL REVIEW AND PROSPECTS			5

	A	Operating Results		5

	B	Liquidity and Capital Resources		6

	C	Research and Development, Patents and Licenses		6

	D	Trend Information		6

	E	Off-Balance Sheet Arrangements		6

	F	Tabular Disclosure of Contractual Obligations		6

ITEM 6.	DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES			7

	A	Directors and Senior Management		7

	B	Compensation		7

	C	Board Practices		7

	D	Employees		7

	E	Share Ownership		8

ITEM 7.	MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS			8

	A	Major Shareholders		8

	B	Related Party Transactions		8

	C	Interests of Experts and Counsel.		8

ITEM 8.	FINANCIAL INFORMATION			8

	A	Consolidated Statements and Other Financial Information.		8

	B	Significant Changes		8

ITEM 9.	THE OFFER AND LISTING			9

	A	Offer and Listing Details		9

	B	Plan of Distribution		9

	C	Markets		9

	D	Selling Shareholders		9

	E	Dilution		9

	F	Expenses of the Issue		9

ITEM 10.	ADDITIONAL INFORMATION			9

	A	Share Capital		9

	B	Memorandum and Articles of Association		9

	C	Material Contracts		9

	D	Exchange Controls		9

	E	Taxation		10

	F	Dividends and Paying Agents		12

	G	Statement by Experts		12

	H	Documents on Display		12



	I	Subsidiary Information	12

ITEM 11.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		12

ITEM 12.	DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES		13

	A	Debt Securities	13

	B	Warrants and Rights	13

	C	Other Securities	13

	D	American Depositary Shares	13

PART II			14

ITEM 13.	DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES		14

ITEM 14.	MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS		14

ITEM 15.	CONTROLS AND PROCEDURES		14

	A	Disclosure Controls and Procedures	14

	B	Management’s Annual Report on Internal Control Over Financial Reporting	14

	C	Attestation Report of the Registered Public Accounting Firm	14

	D	Changes in Internal Control Over Financial Reporting	14

ITEM 16.	[RESERVED]		14

ITEM 16A	AUDIT COMMITTEE FINANCIAL EXPERT		14

ITEM 16B	CODE OF ETHICS		14

ITEM 16C	PRINCIPAL ACCOUNTANT FEES AND SERVICES		14

ITEM 16D	EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES		14

ITEM 16E	PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS		15

ITEM 16F	CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT		15

ITEM 16G	CORPORATE GOVERNANCE		15

ITEM 16H	MINE SAFETY DISCLOSURE		15

ITEM 16I	DISCLOSURE REGARDING FOREIGN JURISDICTION THAT PREVENT INSPECTIONS		15

PART III			15

ITEM 17.	FINANCIAL STATEMENTS		15

ITEM 18.	FINANCIAL STATEMENTS		16

ITEM 19.	EXHIBITS		16


Company	Reg. No.		Domicile		Percentage of ownership		Par value in local currency, million		Carrying value, SEK million
Subsidiary companies
Ericsson AB		556056-6258		Sweden		100		50		20,731
Ericsson Shared Services AB		556251-3266		Sweden		100		361		2,216
Ericsson Software Technology Holding AB		559094-8963		Sweden		100		—		7
Datacenter i Rosersberg AB		556895-3748		Sweden		100		—		88
Datacenter i Mjärdevi Aktiebolag		556366-2302		Sweden		100		10		69
AB Aulis		556030-9899		Sweden		100		14		6
Ericsson Credit AB		556326-0552		Sweden		100		5		5
Other (Sweden)						—		—		1,142
Ericsson Austria GmbH				Austria		100		4		94
Ericsson Danmark A/S				Denmark		100		90		216
Oy LM Ericsson Ab				Finland		100		13		196
Ericsson France SAS				France		100		21		524
Ericsson Antenna Technology Germany GmbH				Germany		100		2		21
Ericsson Germany GmbH				Germany		100		1		2,844
Ericsson Hungary Ltd.				Hungary		100		1,301		120
L M Ericsson Limited				Ireland		100		4		34
Ericsson Telecomunicazioni S.p.A.				Italy		100		44		3,173
Ericsson Holding International B.V.				The Netherlands		100		222		2,983
Ericsson A/S				Norway		100		75		114
Ericsson Television AS				Norway		100		161		160
Ericsson Corporatia AO				Russia		100		5		5
Ericsson España S.A.				Spain		100		28		14
Ericsson AG				Switzerland		100		—		—
Ericsson Holdings Ltd.				United Kingdom		100		328		10
Other (Europe, excluding Sweden)						—		—		972
Ericsson Holding II Inc.				United States		100		—		30,281
Ericsson Smart Factory Inc.				United States		100		—		191
Companía Ericsson S.A.C.I.				Argentina		95 1)		193		99
Ericsson Canada Inc.				Canada		100		—		51
Belair Networks				Canada		100		108		170
Ericsson Telecom S.A. de C.V.				Mexico		100		939		576
Other (United States, Latin America)						—		—		486
Teleric Pty Ltd.				Australia		100		20		100
Ericsson Ltd.				China		100		2		2
Ericsson (China) Company Ltd.				China		100		65		475
P.T. Ericsson Indonesia				Indonesia		95		9,531		614
Ericsson India Global Services PVT. Ltd				India		100		291		51
Ericsson Kenya Limited				Kenya		100		—		69
Ericsson-LG CO Ltd.				Korea		75		285		2,279
Ericsson (Malaysia) Sdn. Bhd.				Malaysia		100		3		131
Ericsson Telecommunications Pte. Ltd.				Singapore		100		2		1
Ericsson South Africa PTY. Ltd				South Africa		70		—		135
Ericsson Taiwan Ltd.				Taiwan		90		270		36
Ericsson (Thailand) Ltd.				Thailand		49 2)		90		17
Other countries (the rest of the world)						—		—		501
Total										72,009
Joint ventures and associated companies
Concealfab Co				USA		28		—		64
Leone Media Inc.				USA		49		134		790
Ericsson Nikola Tesla d.d.				Croatia		49		65		330
Total										1,184


	2021				2020				2019
	Sites		Thousands of sq meters*		Sites		Thousands of sq meters*		Sites		Thousands of sq meters*
Sweden		1		5		1		5		1		5
China		1		13.9		1		13.9		1		13.9
Estonia		1		9		1		9		1		9
Brazil		1		6.5		1		6.5		1		6.7
USA		1		6		1		6		0		0

Total		5		40.4		5		40.4		4		34.6



Board Diversity Matrix (as of 24 March, 2022)

Country of Principal Executive Offices:	Sweden

Foreign Private Issuer	Yes

Disclosure Prohibited under Home Country Law	Yes

Total Number of Directors	13

	Female	Male	Non-Binary	Did Not Disclose Gender

Part I: Gender Identity

Directors	3	10	0	0

Part II: Demographic Background

Underrepresented Individual in Home Country Jurisdiction	-

LGBTQ+	-

Did Not Disclose Demographic Background	-


	Service	Rate	By whom paid
1)	Deposit of shares and issuance of receipts	Up to USD 5 per 100 American Depositary Shares or fraction thereof	Party to whom receipts are issued
2)	Delivery of deposited shares against surrender of receipts	Up to USD 5 per 100 American Depositary Shares or fraction thereof	Party surrendering receipts
3)	Distribution of Cash Dividends and Cash Proceeds processing	Up to USD 3 per 100 American Depositary Shares	All holders of American Depositary Shares
4)	Administration of the ADSs	Up to USD 3 per 100 American Depositary Shares per annum	All holders of American Depositary Shares


Exhibit Number		Description

1		Articles of Association of Telefonaktiebolaget LM Ericsson (amended March 2021)

2.1		Second Amended and Restated Deposit Agreement Among Telefonaktiebolaget LM Ericsson (publ) and Deutsche Bank Trust Company Americas, as depositary, and holders of American Depositary Receipts, dated as of January 7, 2014 (incorporated herein by reference to Exhibit 2 to the Annual Report on Form 20-F for the year ended December 31, 2014 filed by the registrant on March 31, 2015 (File No. 000-12033)

2.2		Amendment No. 1, dated as of October 24, 2016, to the Second Amended and Restated Deposit Agreement Among Telefonaktiebolaget LM Ericsson (publ) and Deutsche Bank Trust Company Americas, as depositary, and holders of American Depositary Receipts, dated as of January 7, 2014 (incorporated herein by reference to Exhibit 2.2 to the Annual Report on Form 20-F for the year ended December 31, 2016 filed by the registrant on April 26, 2017 (File No. 000-12033)

2.3		Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934

4.1		Agreement and plan of merger among Vonage Holdings Corp. and Telefonaktiebolaget LM Ericsson, dated as of November 22, 2021. (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed on November 22, 2021 by Vonage Holdings Corp. (File No: 001-32887))

6		See “Financials – Notes to the consolidated financial statements – Note A1—Significant accounting policies” of the 2021 Swedish Annual Report (adjusted version)

7		For definitions of certain ratios used in this report, see the section of the 2021 Swedish Annual Report (adjusted version) entitled “Financial Terminology”

8		See Item 4.C. Organizational Structure

11		Code of Ethics (amended June 2021, available on our website at https://www.ericsson.com/en/about-us/corporate-governance/code-of-ethics)

12.1		Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

12.2		Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

13.1*		Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

13.2*		Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

15.1**		Swedish Annual Report for 2021 in English (adjusted version)

15.2		Consent of Deloitte AB

15.3		Consent of PricewaterhouseCoopers AB

101**		XBRL Instance Document and related items


Exhibit Number		Description

101.INS***		Inline XBRL Instance Document. The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH***		Inline XBRL Taxonomy Extension Schema Document.

101.CAL***		Inline XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF***		Inline XBRL Taxonomy Definition Linkbase Document.

101.LAB***		Inline XBRL Taxonomy Extension Label Linkbase Document.

101.PRE***		Inline XBRL Taxonomy Extension Presentation Linkbase Document.

104		Cover Page Interactive Data File (embedded within the inline XBRL document).


TELEFONAKTIEBOLAGET LM ERICSSON

By:		/s/ JONAS STRINGBERG
Name:		Jonas Stringberg
Title:		Head of Group Controlling and External Reporting

By:		/s/ CARL MELLANDER
Name:		Carl Mellander
Title:		Executive Vice President and Chief Financial Officer