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Ericsson announces non-cash impairment charge mainly relating to Vonage

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Non-cash impairment of SEK 11.4 billion to be recorded in the second quarter 2024, relating to the impairment of intangibles mainly attributed to the Vonage acquisitionReflects lower anticipated market growth in some of Vonage’s current portfolioThe Ericsson strategy to build a new source of monetization for the telecom industry remains. Vonage is positioned at the center of digitalizing enterprises and society through the development of the Global Network Platform for network APIs; 12 partnerships with leading service providers have already been announced, with Singtel and Telstra added in Q2

STOCKHOLM, July 3, 2024 /PRNewswire/ — Ericsson (NASDAQ: ERIC) today announces that, in accordance with IFRS accounting requirements, it will record a non-cash impairment charge of SEK 11.4 billion in the second quarter of 2024, primarily reflecting lower anticipated market growth rates in Vonage’s current portfolio. The Net income impact after tax will be SEK 11.4 billion and reported in segment Enterprise.

Niklas Heuveldop, Head of Business Area Global Communications Platform and CEO of Vonage says: “Given deterioration in the market environment and elective decisions we have made to refocus our investments in strategically prioritized areas, we have reassessed certain growth assumptions, resulting in a non-cash impairment of SEK 11.4 billion.”

Niklas Heuveldop adds: “We continue to advance our strategy to build a Global Network Platform for network APIs, which was the strategic impetus for the Vonage acquisition. We recently announced additional partnerships with leading mobile network operators and we see continued positive momentum across the industry. Through this strategy, we are making advanced 5G network capabilities available to the world’s developer community to accelerate the innovation of value-added applications for industry and society. This will open up new revenue streams for our operator customers and spur growth in the telecom industry.”

FOR FURTHER INFORMATION, PLEASE CONTACT

Contact person
Daniel Morris, Head of Investor Relations
Phone: +44 7386657217
E-mail: investor.relations@ericsson.com 

Additional contacts 
Stella Medlicott, Senior Vice President, Marketing and Corporate Relations
Phone: +46 730 95 65 39
E-mail: media.relations@ericsson.com 

Investors 
Lena Häggblom, Director, Investor Relations
Phone: +46 72 593 27 78
E-mail:  lena.haggblom@ericsson.com 

Alan Ganson, Director, Investor Relations
Phone: +46 70 267 27 30
E-mail: alan.ganson@ericsson.com 

Media 
Ralf Bagner, Head of Media Relations
Phone: +46 76 128 47 89
E-mail: ralf.bagner@ericsson.com 

Media relations 
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com    

Forward-looking statements

This release includes forward-looking statements, including expected write-down of our goodwill and other asset impairments, amounts of such impairments, effect of impairments on cash flow and dividend capacity, financial condition, performance and results of operations, business plans, objectives, market conditions, and assumptions upon which those statements are based including, in particular the following risks and uncertainties:

Final determination of the extent of the impairment based on fair value analysis compared to carrying valueCompletion of the quarterly financial statements and review by our independent registered public accounting firmPotential changes in estimated impairment amounts based on the completion of the review processExtent of impairment impacts on cash flow and dividend capacityOur goals, strategies, planning assumptions and operational or financial performance expectationsIndustry trends, future characteristics and development of the markets in which we operateOur future liquidity, capital resources, capital expenditures, cost savings and profitabilityThe expected demand for our existing and new products and services as well as plans to launch new products and services including research and development expendituresThe ability to deliver on future plans and to realize potential for future growthTechnology and industry trends including the regulatory and standardization environment in which we operate, competition and our customer structure.Potential dividend capacity in future periods is assessed based on full year performance and is impacted by a variety of factors including earnings, business outlook and financial position.

The words “believe,” “expect,” “foresee,” “anticipate,” “assume,” “intend,” “likely,” “projects,” “may,” “could,” “plan,” “estimate,” “forecast,” “will,” “should,” “would,” “predict,” “aim,” “ambition,” “seek,” “potential,” “target,” “might,” “continue,” or, in each case, their negative or variations, and similar words or expressions are used to identify forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

We caution investors that these statements are subject to risks and uncertainties many of which are difficult to predict and generally beyond our control that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.

Important factors that could affect whether and to what extent any of our forward-looking statements materialize include, but are not limited to, the factors described in the section “Risk Factors” in the latest interim reports, and in “Risk Factors” in the Annual Report 2023.

These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this release, to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulations.

This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 22:15 CEST on July 3, 2024.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ericsson/r/ericsson-announces-non-cash-impairment-charge-mainly-relating-to-vonage,c4011126

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Ericsson announces non-cash impairment charge mainly relating to Vonage

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Genesys Works Nashville Names Inaugural Corporate Partners, Calls on Local Employers to Invest in Future Talent

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National nonprofit kicks off Nashville expansion with founding partners AllianceBernstein, Barge Design Solutions, Gresham Smith, and Smith Seckman Reid, and is actively recruiting additional companies for internship seats

NASHVILLE, Tenn., June 18, 2026 /PRNewswire/ — Genesys Works, a national nonprofit that creates pathways to career success for high school students in underserved communities, today announced its inaugural corporate partners in Nashville: AllianceBernstein, Barge Design Solutions, Gresham Smith, and Smith Seckman Reid, Inc. (SSR). The four founding partners span the financial services and the architecture, engineering, and construction (AEC) sectors, which are facing talent shortages and an urgent need to introduce young people to these career pathways earlier.

Together, these companies will host Genesys Works Nashville’s first cohort of interns — high school seniors who will begin paid, yearlong internships in August 2026 after completing eight weeks of technical and professional skills training this summer.

The organization is actively recruiting additional Nashville-area employers to reach its goal of placing 25 students in paid internships during the 2026–2027 school year. Companies interested in joining the inaugural class can host interns in entry-level roles across IT, operations, HR, marketing, and finance, with Genesys Works serving as the employer of record and handling logistics, training, and ongoing support.

“Nashville’s employer community has shown up in a big way for our first cohort, and these founding partners are setting the standard for what’s possible when companies invest in local talent,” said Dr. Darren Kennedy, Executive Director of Genesys Works Nashville. “We’re inviting more companies to join us and benefit from our interns’ valuable contributions to their teams, doing real work that has real impact.”

“At AllianceBernstein, we believe deeply in the value of investing in our local, emerging talent,” said Karl Sprules, Chief Operating Officer at AllianceBernstein. “Partnerships like this help individuals uncover their strengths and accelerate their career paths, while enabling employers to build stronger talent pipelines. This ultimately strengthens Nashville’s workforce – both now and in the future.”

“Investing in career awareness and workforce development is vital for our communities,” said Carrie Stokes, PE, CEO and President at Barge Design Solutions. “The AEC industry plays a critical role in shaping the places where people live, work, and connect, and we need the next generation to understand both the opportunity and responsibility that comes with that work. Our partnership with Genesys Works allows us to engage students early to build understanding, interest, and a stronger pipeline of future professionals.”

“For many young people it’s not a matter of ability or desire, but they just need to be exposed to what exciting career opportunities are available,” said Rodney Chester, CEO and Board Chair at Gresham Smith. “At Gresham Smith, we believe investing in the communities where we work and live includes investing in future professionals while they are still in high school. There is a growing need for more architects and engineers in our industry, and one way to help close that gap is by introducing students to these career paths earlier. Creating healthy, thriving communities starts with creating meaningful opportunities for the people within them.”

Susan Osterberg, CEO and President of Smith Seckman Reid, said the partnership advances both the firm’s talent strategy and its broader commitment to the profession. “We’re excited to partner with Genesys Works because it allows us to introduce students to the design and engineering profession at an early and influential stage. By welcoming Genesys Works students into SSR, we’re helping them build technical, professional, and critical-thinking skills while also demystifying what a career in design and engineering can look like. The industry faces ongoing challenges related to workforce readiness and future capacity, and early exposure is key.”

Genesys Works has served more than 14,000 young professionals across eight cities. High school students earn their internships by completing 160 hours of technical and professional skills training, then work 20 hours per week throughout their senior year, providing employers with reliable, yearlong talent and continuity that traditional summer internships cannot match. As the employer of record, Genesys Works manages the internship program from end to end, including student training, recruitment and screening, onboarding, payroll administration, supervisor training, and ongoing coaching for interns and supervisors, helping employers build talent pipelines while reducing the administrative burden of managing an internship program.

How to get involved

Genesys Works Nashville is recruiting employer partners now to host interns beginning in August 2026. Companies interested in participating in the inaugural class can contact nashville@genesysworks.org or visit genesysworks.org/locations/nashville.

About Genesys Works

Genesys Works provides pathways to career success for high school students in underserved communities. Our program consists of 8 weeks of technical and professional skills training, paid year-long corporate internships, college and career coaching, and long-term alumni support to move individuals out of economic inequality and into professional careers. Founded in 2002, Genesys Works now serves thousands of students annually in Chicago, Houston, Jacksonville, Minneapolis/St. Paul, Nashville, New York City, the San Francisco Bay Area, Tulsa, and Washington’s National Capital Region. To learn more, visit genesysworks.org.

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SOURCE Genesys Works

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Moeris Expands into the Southeast with Acquisition of Stay Safe Traffic Control

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DENVER, June 18, 2026 /PRNewswire/ — Moeris, a national roadway safety and traffic control organization, today announced the acquisition of Stay Safe Traffic Control, a leading provider of work zone safety and traffic control services based in Raleigh, North Carolina.

The acquisition expands Moeris’ growing national platform in the Southeast region and reflects the company’s long-term strategy of disciplined geographic growth and operational optimization.

“Our goal is to build the nation’s leading traffic control and work zone safety platform through thoughtful expansion and an unwavering commitment to excellence,” said Tom Harper, CEO of Moeris. “Stay Safe Traffic Control has earned a strong reputation for safety, quality and reliability. This is a relationship-driven business, and we support local companies with shared resources, safety systems and operational expertise while preserving the brands and leadership teams that define their markets.”

Stay Safe Traffic Control selected Moeris as a partner to ensure continuity for employees and customers while positioning the business for continued growth. The partnership reflects a shared commitment to employee care, high safety standards and building on the company’s strong foundation.

Stay Safe Traffic Control will retain its name, locations, team and operating structure, and day-to-day operations will continue as usual. The company becomes the fourth operating business under the Moeris umbrella, joining Colorado Barricade, Pavement Surface Control and Richmond Traffic Control, which serve customers across the Rocky Mountain region, Pacific Northwest, Mid-Atlantic, and Southeast.

“We’ve built a reputation for delivering high-quality traffic control solutions with integrity,” said David Chamblee, owner of Stay Safe Traffic Control. “Partnering with Moeris gives us additional resources to invest in our people, expand our capabilities and continue serving our customers at the highest level, without changing who we are.”

“We are proud of the company we’ve built and the people who make it successful,” added David Chamblee. “Moeris shares our values around safety, service and caring for employees. This partnership positions Stay Safe Traffic Control for long-term growth while staying true to the culture and relationships that define our business.”

Founded in 2016, Stay Safe Traffic Control is a full-service provider of work zone traffic control products and services with locations in Garner and Angier, North Carolina. Its employees are ATSSA- and/or DOT-certified in work zone traffic control. For more information, visit staysafetrafficcontrol.com.

Moeris is a roadway safety and traffic control organization dedicated to protecting drivers, workers and communities during construction. Through its family of local operating companies, Moeris provides traffic control, barrier systems, pavement marking and sign installation services across infrastructure and heavy civil markets, while preserving local leadership and identity. For more information, visit moerisusa.com.

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SOURCE Moeris

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One-Third of Homeowners Surveyed Remain Open to Refinancing, Refi.com Reports

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With three-quarters of prospective refinancers holding rates above 5%, lower payments remain the primary trigger to act

COLUMBIA, Mo., June 18, 2026 /PRNewswire/ — One-third of homeowners say they are currently refinancing or likely to refinance within the next two years despite elevated mortgage rates, according to new data released today by Refi.com.

The findings are based on a nationwide survey of more than 1,000 homeowners conducted by Mortgage Research Center, LLC. (Refi.com is a brand of Mortgage Research Center, LLC).

“The popular narrative around refinancing has centered almost entirely on borrowers who locked in sub-3% rates during 2020 and 2021 and have no incentive to move,” said Kyle Bass, production business manager at Refi.com. “Those borrowers are real, but they are not the whole market. A significant share of today’s prospective refinancers bought or refinanced at 5.5% to 7% or higher and are actively evaluating their options.”

Many Homeowners Still Within Reach of Savings
Three-quarters of homeowners surveyed who are considering a refinance currently carry mortgage rates above 5%, while nearly half are above 6%. That means many borrowers are still within a range where even modest rate improvements could make refinancing financially meaningful if conditions shift.

More than half of those interested in refinancing are Gen Z or Millennials, reflecting homeowners who entered the market during a period of elevated rates. Most also report credit scores of 680 or higher, suggesting many are financially positioned to act when the timing improves.

When asked why they would refinance, a majority of homeowners surveyed pointed to lowering their monthly payment or interest rate. According to the survey, 62% cited a reduction in payments as their primary motivation, while 15% cited accessing home equity and 13% cited paying off other debt.

Confusion and Uncertainty Are Slowing Decisions
Beyond the current interest rate environment, many homeowners say uncertainty is holding them back. Respondents cited confusion about the process, uncertainty about qualification requirements and difficulty determining whether refinancing would actually save them money.

Fewer than half of homeowners surveyed said they feel very confident calculating the break-even point on a refinance.

“The break-even calculation is where many homeowners get stuck,” Bass said. “The math itself is simple, but translating it into a real decision is where the hesitation comes in. Once borrowers see it clearly, the path forward becomes much easier to evaluate.”

The survey findings also surface a gap between common misconceptions about refinancing and what homeowners actually prioritize when evaluating their options. About one-third of homeowners believe refinancing only makes sense when rates drop significantly, while roughly one in five believe at least 20% equity is required. Others associate cash-out refinancing primarily with financial distress.

In contrast, when evaluating a refinance, homeowners focus most on clear loan terms, lower interest rates, long-term savings, lower monthly payments and minimal closing costs.

The complete survey results can be viewed here: https://www.refi.com/learn/refinancer-mindset-data/

About Refi.com
Based in Columbia, Mo., Refi.com (NMLS ID #1907) is a digital marketplace that helps homeowners compare mortgage refinance options and home equity products from multiple lenders. The platform is designed to simplify the borrowing process and help consumers make more informed financial decisions about their home equity.

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SOURCE Refi.com

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