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Ericsson Nikola Tesla d.d.
Annual Report • Jul 24, 2025
2119_10-q_2025-07-24_ac8a6dd5-4079-4f60-9ffc-68c707b9a9b8.pdf
Annual Report
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Ericsson Nikola Tesla d.d. Krapinska 45 10000 Zagreb
SECURITY: ERNT (ISIN: HRERNTRA0000) LEI: 5299001W91BFWSUOVD63 HOME MEMBER STATE: Republic of Croatia REGULATED MARKET SEGMENT: Regular Market of the Zagreb Stock Exchange
Ericsson Nikola Tesla Group
Zagreb, July 24, 2025
Management Report on the Company and Ericsson Nikola Tesla Group business performance with comments on the financial results for H1 2025
Highlights:
- Sales revenue: EUR 110.8 million
- Gross margin: 12.5%
- Operating profit: EUR 11.4 million
- Profit before tax: EUR 11.8 million
- Net profit: EUR 9.6 million
- Cash flow from operating activities: EUR 0.9 million
Gordana Kovačević, President of Ericsson Nikola Tesla's Management Board, commented:
"In H1 2025, total sales revenue amounted to EUR 110.8 million, up by 1.7% year-over-year, as a result of increased sales in Croatia and a stable sale of services to Ericsson. We continue to witness a slowdown of telecom operators' investments in mobile infrastructure, uncertainties related to complex digital transformation projects and pressures on the prices of our products and services. In such a challenging market environment, in order to ensure stable business performance and maintain competitiveness, we focus on business diversification through the development of new products and services, and new customers. Furthermore, we focus on cost effectiveness and efficiency of our business processes, and some of the key steps we take on this path are the introduction of technology such as artificial intelligence, automation of business processes and initiatives within internal digital transformation.
During Q2, we have continued to fulfill our obligations in line with multi-year contracts related to the expansion and modernization of telecom networks, and we have been working intensely on the realization of activities and new business opportunities in the Digital Society segment. We would like to highlight a contract with the Croatian Pension Insurance Institute (HZMO) related to the building and implementation of an IT system to support basic processes (eHZMO), and the contract with the company Odašiljači i veze (OiV) for the design and construction of passive
electronic communications infrastructure. We have also continued the cooperation with the Ministry of the Interior of the Republic of Croatia related to the maintenance of stationary and mobile systems for monitoring the external EU border.
In export markets, we have continued quality cooperation on the modernization and maintenance of mobile networks of operators HT Mostar, Crnogorski Telekom, Ipko Kosovo, and Telekom Kosova. We participated at the 26th International Economy Fair Mostar, where we presented advanced solutions from the portfolio of ENT and Ericsson that enable digital transition and the connection of various industries and society, such as Mission Critical Networks, Intelligent Transportation Systems (ITS), solutions for the introduction of a single European number for emergency situations 112, as well as Ericsson Nikola Tesla's hospital information solution.
During Q2, our Research and Development Center (R&D) continued the development of functionalities on new Radio platforms, the development of strategic functionalities in the domain of 5G RAN software, and Compute platforms functionalities. The strategic focus of R&D remains on building organizational E2E software development capability and positioning Ericsson Nikola Tesla as a supplier that is highly performing and capable to deliver such solutions in the most complex areas of mobile technology (Network segment). We are constantly working on acquiring new responsibilities in strategic areas, and the fact that we are continuously among the best rated R&D Centers, as well as the high quality of our deliveries, puts us in a good position to be chosen as a strategic partner for new business opportunities.
At this year's Ericsson Nikola Tesla Technology Days, the latest technology solutions and innovations were presented to our customers from Croatia and abroad (Hrvatski Telekom, A1 HR, Telemach HR, HT Mostar, BH Telecom, mtel BIH), as well as to the representatives of regulators, the academic community, media and employees. Special emphasis was placed on solutions for 5G networks monetization, application of 5G technologies for mission critical network communications for emergency services, public safety and defense, as well as the construction of communication network for critical railway infrastructure based on 5G technology (FRMCS- Future Railway Mobile Communications System). In addition to the application of technology in telecommunications and various industries, scientific research work was presented on the example of the EU co-funded project Digiphy which shows Extended Reality (XR) communication and interaction through a dynamically refreshed digital twin.
In terms of financial indicators, gross profit amounted to EUR 13.9 million, down by 12.0% year-over-year, as a result of increased material and employee costs, and activities aimed at optimizing operations. Gross margin was 12.5% (H1 2024: 14.5%). Operating profit amounted to EUR 11.4 million, down by 13.2% year-over-year, as a result of lower gross profit and increased selling and administrative expenses. Operating margin amounted to 10.3% (H1 2024: 12.0%). Net profit amounted to EUR 9.6 million, up by 24.8% year-over-year. We concluded end of H1 with a solid balance sheet and an equity ratio of 36.7%. Cash and cash equivalents, including the short-term financial assets, amounted to EUR 56.6 million, which accounts for 32.5% of the total assets. A positive cash flow from operating activities was achieved in the amount of EUR 0.9 million (H1 2024: EUR - 5.1 million).
Our strategy is focused on strengthening the leading position in mobile networks, growth in the Digital Society
segment, and excellence in services and R&D. We base it on sustainable growth, market diversification and strengthening technology leadership. The focus is clear: innovation, competencies, persistence and resilience. Looking ahead, we are investing in new products, business segments and customers, AI which is necessary to accelerate innovation and drive internal efficiency, cyber security and the competencies of our employees in the domain of AI and digital transformation."
Financial highlights for the Group:
- Sales revenue amounted to EUR 110.8 million (H1 2024: EUR 108.9 million), up by 1.7% year-over-year.
- Sales according to business segments: Telecom amounted to EUR 31.6 million (H1 2024: EUR 30.5 million), Digital Society amounted to EUR 8.2 million (H1 2024: EUR 7.3 million), R&D and Services amounted to EUR 71.0 million (H1 2024: EUR 71.1 million).
- Gross profit amounted to EUR 13.9 million (H1 2024: EUR 15.8 million), down by 12.0 % year-over-year as a result of increased material and employee costs, and activities aimed at optimizing operations. Gross margin decreased to 12.5% (H1 2024: 14.5%).
- Selling and administrative expenses increased by 8.3% year-over-year and amounted to EUR 6.0 million (H1 2024: EUR 5.5 million), primarily as a result of increased costs in order to capture new business opportunities. The share of selling and administrative expenses in the total sales revenue was 5.4% (H1 2024: 5.1%).
- Operating profit amounted to EUR 11.4 million (H1 2024: EUR 13.1 million), down by 13.2% year-over-year, as a result of lower gross profit and increased selling and administrative expenses. Operating margin was 10.3% (H1 2024: 12.0%).
- Profit from financial activities amounted to EUR 0.4 million (H1 2024: EUR 0.5 million), as a result of decline in interest income due to the decrease in interest rates in the market.
- Profit before tax decreased by 13.9% year-over-year and amounted to EUR 11.8 million (H1 2024: EUR 13.7 million).
- Net profit amounted to EUR 9.6 million (H1 2024: EUR 7.7 million), up by 24.8% year-over-year as a result of lower income tax. Return on sales (ROS) was 8.7% (H1 2024: 7.1%).
- Working capital efficiency, expressed in Working Capital Days (WCD), was 47 days (H1 2024: 35 days). WCD continues to be affected by the demanding projects in terms of work and capital engagement, along with the extended dynamics of collection of receivables on all markets.
- Cash flow from operating activities was EUR 0.9 million (H1 2024: EUR -5.1 million) due to increased activities related to collection of customers receivables and ensuring current liquidity.
- Cash and cash equivalents, including the short-term financial assets, as at June 30, 2025, amounted to EUR 56.6 million (32.5 % of the total assets), and at the end of 2024 they amounted to EUR 63.1 million (35.1% of the total assets).
- The Group has a solid balance sheet with the total assets of EUR 174.2 million as at June 30, 2025, down by 3.1% compared to the end of 2024, primarily because of lower short-term receivables as well as cash and cash
equivalents, while the inventory has been increasing. At the end of H1 2025, equity ratio was 36.7% (end of 2024: 37.9%).
- With related parties, the transactions were as follows: sales of products and services amounted to EUR 69.9 million (H1 2024: EUR 69.8 million), while the procurement of products and services amounted to EUR 14.9 million (H1 2024: EUR 15.2 million).
- As at June 30, 2025, balances outstanding with related parties were as follows: receivables amounted to EUR 36,7 million (end of 2024: 39.5 million), and payables amounted to EUR 7.7 million (end of 2024: EUR 16.4 million).
Business situation in major markets
In the domestic market sales revenue amounted to EUR 28.0 million (H1 2024: EUR 23.4 million), up by 19.6% yearover-year.
With Hrvatski Telekom (HT) the deliveries are ongoing based on the exclusive multi-year contracts in the field of microwave technology and the radio and core part of the mobile network. During Q2, a special focus was on equipment delivery, integration and optimization of complex network configurations for a concert in Zagreb, which gathered more than 500 thousand visitors. For the first time in Croatia, for the needs of such an event, an advanced Ericsson Live RAN Insights solution was implemented - a system for almost simultaneous monitoring of performance of 4G/5G RAN network. The implementation of this solution made it possible to obtain timely key feedback from the network and optimize network resources, which had a positive impact on the excellent performance of HT's radio network during the concert. For the needs of Ericsson corporation, this platform is developed by the experts from our Services Center. In addition to deliveries related to the radio network, in cooperation with HT, Ericsson Nikola Tesla also secured a private 5G campus network for mobile connectivity of 735 POS devices.
Furthermore, the activities continued on the implementation of Ericsson dual-mode 5G Core network, which additionally strengthens the foundation to introduce advanced 5G services in the mobile network of Hrvatski Telekom.
With our partner A1 Hrvatska, in line with the multi-year contracts, we have been working on the modernization of radio network, on the extension of coverage and capacity of the 5G radio network, and on the modernization and construction of the convergent core network and microwave transmission systems.
In the Digital Society segment, a contract was signed with the Croatian Pension Insurance Institute (HZMO) related to the building and implementation of an IT system to support basic processes (eHZMO). The project aims to increase the level of quality of services for users and improve work efficiency by modernizing the IT system and business processes.
When it comes to national and public safety, contracts were signed with the Ministry of the Interior of the Republic of Croatia related to the maintenance of stationary and mobile systems for monitoring the external EU border.
We have signed a contract with OiV for the design and construction of passive electronic communications
infrastructure on a turnkey basis, goal of which is to reduce the digital gap between urban and rural areas.
In export markets (excluding services to Ericsson) sales revenue amounted to EUR 11.7 million (H1 2024: EUR 14.4 million), down by 18.2% year-over-year, as a result of lower sales revenue in Kosovo, which is due to the fact that in November 2024 we have finished a large project of modernization of the overall radio access network of Telekom Kosova, six months before the agreed deadline.
In Bosnia and Herzegovina, with the operator HT Mostar, in line with the previously signed contracts, we have been working on the expansion of the radio access network, the implementation of software management services for the entire installed base of Ericsson solutions in their network, and the implementation of access control and quality of service for the introduction of VoLTE functionality. With the operator BH Telecom, we have been working on the modernization of mobile network in the domain of microwave transmission systems (Mini Link).
In Kosovo, with the operator IPKO, we continue the cooperation on the modernization of 4G/5G mobile network, transport network and on service projects in core network, while with the operator Telekom Kosova, software expansions of 5G core network were agreed.
In Montenegro, with the operator Crnogorski Telekom, we have continued the activities on their mobile network modernization, by delivering equipment and services based on multi-year exclusive agreements which encompass radio and core part of the network. A special focus is on the implementation of Ericsson dual-mode 5G Core network, which secures a high technological readiness for the introduction of advanced 5G services.
With the Ministry of the Interior of Montenegro, the upgrade and modernization of the 112 system was contracted.
In Cyprus, the activities are ongoing on the replacement and modernization of the land administration information system of the Department of Lands and Surveys of the Republic of Cyprus.
In Ericsson market sales revenue remained at the same level year-over-year, amounting to EUR 71.0 million (H1 2024: EUR 71.1 million).
During Q2, our R&D Center has continued on the development of functionalities on new Radio platforms, the development of strategic functionalities in the domain of 5G RAN software, and Compute platforms functionalities. The strategic focus of R&D remains on building organizational E2E software development capability and on additionally positioning Ericsson Nikola Tesla as the supplier that is highly performing and capable to deliver such solutions in the most complex areas of mobile technology (Network segment). We are also continuously working on gaining new responsibilities in strategic areas.
Experts from the Customer Services and Solutions Center, in addition to engagement for the customers of Ericsson Nikola Tesla Group, were also engaged on many projects for Ericsson customers. The activities include creating solutions, defining network parameters, and optimization and integration of networks for mobile operators in many EU Member States, as well as other countries such as the United Kingdom, Switzerland, Norway, the United States of America, Canada, Australia, India, Mexico, etc. These are complex projects that, among other activities, included the introduction of 5G technology, operational and business support systems, as well as projects of introduction of
core solutions in Cloud. The activities have also continued on the development and implementation of software tools for management and optimization of mobile networks which are used in network rollout by many operators worldwide. An example is a platform Ericsson Live RAN Insights, which was very successfully used with our partner HT at the huge concert in Zagreb, as well as at most global mass events such as the Olympic Games in Paris, Super Bowl, FIFA World Cup in Quatar...
The teams working on activities in the field of IT& Engineering Services, in addition to providing support and achieving excellent results on test environment management projects and IT operations for Ericsson corporation, also have a key role in the processes of Ericsson Nikola Tesla Group's digital transformation.
Other information
At the Annual General Meeting of Ericsson Nikola Tesla joint-stock company, held on June 26, 2025, the decision was reached to pay a regular dividend amounting to EUR 10.54 per share from the retained earnings from 2023 and the retained earnings from 2024. The dividend was paid on July 23, 2025, to all the Company's shareholders that on July 2, 2025, had the Company's shares registered on their securities account in the Central Depository & Clearing Company.
Discharge from liability was given to the Company's President of the Management Board, for the exercise of duties in 2024, as well as to the members of the Company's Supervisory Board and its Chairman in relation to the exercise of their duties in 2024. Furthermore, the Remuneration Report for Supervisory Board members and the Management Board in 2024 was approved. Ana Vrsaljko Metelko, was re-elected as the member of the Supervisory Board for the new 4 (four) year term. KPMG Croatia d.o.o., was appointed as the Auditor for the year 2025 and 2026.
For additional information, please contact:
| Antonija Lončar | Orhideja Gjenero | |||
|---|---|---|---|---|
| Director Marketing, Communication and CSR | Investor Relations Manager | |||
| Ericsson Nikola Tesla d.d. | Ericsson Nikola Tesla d.d. | |||
| Krapinska 45 | Krapinska 45 | |||
| HR-10 002 Zagreb | HR-10 002 Zagreb | |||
| Tel.: +385 1 365 4473 | Tel.: +385 1 365 4431 | |||
| Mob.: +385 91 365 4473 | Mob.: +385 91 365 4431 | |||
| E-mail: [email protected] | E-mail: [email protected] | |||
| E-mail: [email protected] |
For more information about Ericsson Nikola Tesla's business, please visit: www.ericssonnikolatesla.hr
| Enlightening |
|---|
| New |
| Technologies |
Pursuant to the Articles 462 to 468 of the Capital Market Law (Official Gazette 65/18) the Managing Director of the joint stock company Ericsson Nikola Tesla d.d. Zagreb, Krapinska 45 gives the following:
Statement
of the Management Board responsibility
The accompanying consolidated and non-consolidated financial statements have been prepared in compliance with the International Financial Reporting Standards (IFRS). The financial statements also comply with the provisions of the Croatian Financial Accounting Law valid as of the date of these financial statements.
Unaudited financial statements for the period January 1, 2025 to June 30, 2025 present a true and fair view of the financial position of the Company and the Group and of the financial performance and cash flows in compliance with applicable accounting standards.
Gordana Kovačević, MSc, President of the Management Board
Hrvoje Benčić, member of the Management Board
Damir Bušić, member of the Management Board
Milan Živković, MSc, member of the Management Board
Ericsson Nikola Tesla d.d. Statement of comprehensive income for the period ended 30 June 2025
| 2025 | 2024 | |
|---|---|---|
| EUR '000 | EUR '000 | |
| Sales revenue | 107.505 | 105.857 |
| Cost of sales | -93.615 | -90.022 |
| Gross profit | __ 13.890 |
__ 15.835 |
| Selling expenses | -2.701 | -2.590 |
| Administrative expenses | -3.064 | -2.710 |
| Other operating income | 3.075 | 2.964 |
| Impairment (loss)/gain on financial assets | 14 | - |
| Operating profit | __ 11.214 |
__ 13.499 |
| Finance income | __ 557 |
__ 868 |
| Finance expense | -259 | -551 |
| Finance income/(expense), net | __ 298 |
__ 317 |
| Profit before tax | __ 11.512 |
__ 13.816 |
| Income tax | -2.072 | -5.916 |
| Profit for the year | __ 9.440 |
__ 7.900 |
| Other comprehensive income | __ - |
__ - |
| Total comprehensive income for the year | __ 9.440 |
__ 7.900 |
| Earnings per share (EUR) | __ 7 |
__ 6 |
Ericsson Nikola Tesla d.d. Statement of financial position
as at 30 June 2025
| 2025 | 2024 | ||
|---|---|---|---|
| EUR '000 | EUR '000 | ||
| ASSETS Non-current assets |
|||
| Property, plant and equipment | 14.063 | 14.769 | |
| Right of use assets | 13.626 | 14.096 | |
| Intangible assets | 1.632 | 1.146 | |
| Investments in subsidiaries | 4 | 4 | |
| Loans and receivables | 1.001 | 1.268 | |
| Deferred tax assets | 2.556 __ |
2.556 __ |
|
| Total non-current assets | 32.882 | 33.839 __ |
|
| __ | |||
| Current assets | |||
| Inventories | 14.391 | 8.581 | |
| Trade receivables | 23.045 | 23.606 | |
| Receivables from related parties | 36.703 | 40.035 | |
| Other receivables | 7.966 | 3.667 | |
| Income tax receivable | 42 | - | |
| Financial assets at fair value through profit or loss | 4.427 | 4.393 2.540 |
|
| Prepayments | 2.637 | 49.316 | |
| Cash and cash equivalents | 44.034 __ |
__ | |
| Total current assets | 133.245 __ |
132.138 __ |
|
| TOTAL ASSETS | 166.127 __ |
165.977 __ |
|
| EQUITY AND LIABILITIES | |||
| Equity | |||
| Share capital | 17.674 | 17.674 | |
| Treasury shares | -1.119 | -1.140 | |
| Legal and other reserves | 2.508 | 2.020 | |
| Reserve for treasury shares | 7.392 | 7.413 | |
| Retained earnings | 32.286 __ |
36.969 __ |
|
| Total equity | 58.741 __ |
62.936 __ |
|
| Non-current liabilities | |||
| Borrowings | 15 | 15 | |
| Lease liabilities | 12.109 | 12.545 | |
| Other non-curent liabilities | 10 | 1 | |
| Employee benefits | 1.201 __ |
1.044 __ |
|
| Total non-current liabilities | 13.335 __ |
13.605 __ |
|
| Current liabilities | |||
| Payables to related parties | 12.984 | 15.969 | |
| Trade and other payables | 39.702 | 38.924 | |
| Income tax payable | 514 | 2.110 | |
| Provisions | 1.587 | 1.189 | |
| Accrued charges and deferred revenue | 19.224 | 14.755 | |
| Contract liabilities | 17.844 | 14.475 | |
| Lease liabilities | 2.196 __ |
2.014 __ |
|
| Total current liabilities | 94.051 __ |
89.436 __ |
|
| Total liabilities | 107.386 | 103.041 __ |
|
| TOTAL EQUITY AND LIABILITIES | __ 166.127 |
165.977 __ |
|
| __ |
Ericsson Nikola Tesla d.d. Statement of cash flows
for the period ended 30 June 2025
| 2025 | 2024 | |
|---|---|---|
| EUR '000 | EUR '000 | |
| Cash flows from operating activities | ||
| Profit before tax | 11.512 _ |
13.816 _ |
| Adjustments for: | ||
| Depreciation and amortisation | 2.513 | 2.603 |
| Impairment losses and reversals | 13 | 22 |
| (Gain)/loss on sale of property, plant and equipment | -125 | 1 |
| Net loss/(gain) on remeasurement of financial assets | -34 | -64 |
| Interest income | -516 | -793 |
| Dividend income | -8 | - |
| Interest expense | 239 | 551 |
| Foreign exchange (gain)/loss, net | 125 | -54 |
| Share-based payments | 341 | 177 |
| Changes in working capital | _ | _ |
| In receivables | -899 | 4.648 |
| In inventories | -5.810 | -6.947 |
| In provisions | 556 | -501 |
| In payables | -1.856 | -15.618 |
| _ | _ | |
| Cash generated from operations | 6.051 _ |
-2.159 _ |
| Interest paid | -239 | -213 |
| Income taxes paid | -3.584 | -2.758 |
| Net cash from operating activities | _ 2.228 |
_ -5.130 |
| Cash flows from investing activities | _ | _ |
| Interest received | 492 | 749 |
| Dividends received | 8 | 1 |
| Proceeds from sale of property, plant and equipment | 106 | - |
| Purchases of property, plant and equipment, and intangible assets | -3.002 | -876 |
| Deposits given to financial institutions, net | 690 | - |
| Net cash from investing activities | _ -1.706 |
_ -126 |
| _ | _ | |
| Cash flows from financing activities | ||
| Repayment of borrowings | -4.617 | -936 |
| Purchase of treasury shares | - | -258 |
| Dividends paid | -133 | -7 |
| Payment of lease liabilities | -1.049 | -962 |
| Net cash used in financing activities | _ -5.799 |
_ -2.163 |
| Effects of exchange rate changes on cash and cash equivalents | _ -5 |
_ 7 |
| Net increase/(decrease) in cash and cash equivalents | _ -5.282 |
_ -7.412 |
| Cash and cash equivalents at the beginning of the year | 49.316 | 55.568 |
| Cash and cash equivalents at the end of the year | _ 44.034 |
_ 48.156 |
| _ | _ |
Ericsson Nikola Tesla d.d. Statement of changes in equity for the period ended 30 June 2025
| Share capital | Treasury shares | Legal and other reserves |
Reserve for treasury shares |
Retained earnings |
Total | |
|---|---|---|---|---|---|---|
| EUR '000 | EUR '000 | EUR '000 | EUR '000 | EUR '000 | EUR '000 | |
| As at 1 January 2024 | 17.674 | -1.256 | 1.230 | 4.157 | 38.711 | 60.516 |
| Changes in equity for 2024 | ||||||
| Total comprehensive income | - | - | - | - | 22.470 | 22.470 |
| Dividend distribution for 2023 | - | - | - | - | -19.880 | -19.880 |
| Purchase of treasury shares | - | -628 | - | - | - | -628 |
| Shares granted | - | 744 | - | -744 | - | - |
| Transfer | - | - | 790 | 4.000 | -4.790 | - |
| Share-based payments | - | - | - | - | 458 | 458 |
| Total contributions by and distributions to owners of the parent recognized directly in equity |
- | 116 | 790 | 3.256 - | 24.212 - | 20.050 |
| As at 31 December 2024 | 17.674 | -1.140 | 2.020 | 7.413 | 36.969 | 62.936 |
| As at 1 January 2025 Changes in equity for 2025 |
17.674 | -1.140 | 2.020 | 7.413 | 36.969 | 62.936 |
| Total comprehensive income | - | - | - | - | 9.440 | 9.440 |
| Dividend distribution for 2024 | - | - | - | - - | 13.976 - | 13.976 |
| Shares granted | - | 21 | - | -21 | - | - |
| Transfer | - | - | 488 | - | -488 | - |
| Share-based payments | - | - | - | - | 341 | 341 |
| Total contributions by and distributions to owners of the parent recognized directly in equity |
- | 21 | 488 | -21 | -14.123 | -13.635 |
| As at 30 June 2025 | 17.674 | -1.119 | 2.508 | 7.392 | 32.286 | 58.741 |
| Annex 1 | |||||
|---|---|---|---|---|---|
| ISSUER'S GENERAL DATA | |||||
| Reporting period: | 1.1.2025 | to | 30.6.2025 | ||
| Year: | 2025 | ||||
| Quarter: | 2. | ||||
| Quarterly financial statements | |||||
| Registration number (MB): | 03272699 | Issuer's home Member State code: |
HR | ||
| Entity's registration number (MBS): |
0800002028 | ||||
| Personal identification number (OIB): |
84214771175 | LEI: | 5299001W91BFWSUOVD63 | ||
| Institution code: |
233 | ||||
| Name of the issuer: ERICSSON NIKOLA TESLA D.D. ZAGREB | |||||
| Postcode and town: | 10000 | Zagreb | |||
| Street and house number: Krapinska 45 | |||||
| E-mail address: [email protected] | |||||
| Web address: www.ericsson.hr | |||||
| Number of employees (end of the reporting |
2802 | ||||
| Consolidated report: | KN | (KN-not consolidated/KD-consolidated) | KN | KD | |
| Audited: | RN | (RN-not audited/RD-audited) | RN | RD | |
| Names of subsidiaries (according to IFRS): | Registered office: | MB: | |||
| Yes No |
|||||
| Bookkeeping firm: | No | (Yes/No) | (name of the bookkeeping firm) | ||
| Contact person: Tatjana Ricijaš (only name and surname of the contact person) |
|||||
| Telephone: +385(0)13653343 | |||||
| E-mail address: [email protected] | |||||
| Audit firm: KPMG Croatia d.o.o. | |||||
| (name of the audit firm) Certified auditor: Domagoj Hrkać |
|||||
| (name and surname) |
BALANCE SHEET balance as at 30.6.2025
| Submitter: ERICSSON NIKOLA TESLA D.D. Item |
ADP | Last day of the | in EUR At the reporting date |
|---|---|---|---|
| 1 | code 2 |
preceding business year 3 |
of the current period 4 |
| A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID | 001 | 0 | 0 |
| B) FIXED ASSETS (ADP 003+010+020+031+036) | 002 | 33.838.585 | 32.882.508 |
| I INTANGIBLE ASSETS (ADP 004 to 009) | 003 | 1.145.837 | 1.632.411 |
| 1 Research and development 2 Concessions, patents, licences, trademarks, software and other |
004 | 0 | 0 |
| rights | 005 | 330.556 | 268.519 |
| 3 Goodwill | 006 | 0 | 0 |
| 4 Advances for the purchase of intangible assets | 007 | 0 | 0 |
| 5 Intangible assets in preparation | 008 | 815.281 | 1.363.892 |
| 6 Other intangible assets II TANGIBLE ASSETS (ADP 011 to 019) |
009 | 0 | 0 |
| 1 Land | 010 | 28.864.623 | 27.688.718 |
| 011 | 2.071.185 | 2.071.185 | |
| 2 Buildings | 012 | 18.344.036 | 17.419.063 |
| 3 Plant and equipment | 013 | 4.606.604 | 5.100.419 |
| 4 Tools, working inventory and transportation assets | 014 | 2.433.461 | 2.604.335 |
| 5 Biological assets | 015 | 0 | 0 |
| 6 Advances for the purchase of tangible assets | 016 | 0 | 0 |
| 7 Tangible assets in preparation | 017 | 1.398.862 | 483.439 |
| 8 Other tangible assets | 018 | 10.475 | 10.277 |
| 9 Investment property | 019 | 0 | 0 |
| III FIXED FINANCIAL ASSETS (ADP 021 to 030) | 020 | 856.687 | 856.959 |
| 1 Investments in holdings (shares) of undertakings within the group | 021 | 4.341 | 4.341 |
| 2 Investments in other securities of undertakings within the group | 022 | 0 | 0 |
| 3 Loans, deposits, etc. to undertakings within the group | 023 | 0 | 0 |
| 4. Investments in holdings (shares) of companies linked by virtue of | 024 | 0 | 0 |
| participating interests 5 Investment in other securities of companies linked by virtue of |
025 | 0 | 0 |
| participating interests 6 Loans, deposits etc. to companies linked by virtue of participating interests |
026 | 0 | 0 |
| 7 Investments in securities | 027 | 0 | 0 |
| 8 Loans, deposits, etc. given | 028 | 852.346 | 852.618 |
| 9 Other investments accounted for using the equity method | 029 | 0 | 0 |
| 10 Other fixed financial assets | 030 | 0 | 0 |
| IV RECEIVABLES (ADP 032 to 035) | 031 | 415.159 | 148.141 |
| 1 Receivables from undertakings within the group 2 Receivables from companies linked by virtue of participating |
032 | 0 | 0 |
| interests | 033 | 0 | 0 |
| 3 Customer receivables | 034 | 311.925 | 47.538 |
| 4 Other receivables | 035 | 103.234 | 100.603 |
| V DEFERRED TAX ASSETS | 036 | 2.556.279 | 2.556.279 |
| C) CURRENT ASSETS (ADP 038+046+053+063) | 037 | 129.598.514 | 130.608.089 |
| I INVENTORIES (ADP 039 to 045) | 038 | 8.580.820 | 14.391.277 |
| 1 Raw materials and consumables | 039 | 4.620.206 | 6.039.373 |
| 2 Work in progress | 040 | 3.960.614 | 8.351.904 |
| 3 Finished goods | 041 | 0 | 0 |
| 4 Merchandise | 042 | 0 | 0 |
| 5 Advances for inventories | 043 | 0 | 0 |
| 6 Fixed assets held for sale | 044 | 0 | 0 |
| 7 Biological assets | 045 | 0 | 0 |
| II RECEIVABLES (ADP 047 to 052) | 046 | 66.618.231 | 67.755.958 |
| 1 Receivables from undertakings within the group | 047 | 683.981 | 128.745 |
| 2 Receivables from companies linked by virtue of participating interests |
048 | 39.350.855 | 36.574.481 |
| 3 Customer receivables | 049 | 23.606.100 | 23.045.269 |
| 4 Receivables from employees and members of the undertaking | 050 | 0 | 0 |
| 5 Receivables from government and other institutions 6 Other receivables |
051 | 0 | 10.959 |
| III CURRENT FINANCIAL ASSETS (ADP 054 to 062) | 052 | 2.977.295 | 7.996.504 |
| 053 | 5.083.224 | 4.426.792 | |
| 1 Investments in holdings (shares) of undertakings within the group | 054 | 0 | 0 |
| 2 Investments in other securities of undertakings within the group | 055 | 0 | 0 |
| 3 Loans, deposits, etc. to undertakings within the group | 056 | 0 | 0 |
| 4 Investments in holdings (shares) of companies linked by virtue of participating interests |
057 | 0 | 0 |
| 5 Investment in other securities of companies linked by virtue of participating interests |
058 | 0 | 0 |
| 6 Loans, deposits etc. to companies linked by virtue of participating interests |
059 | 0 | 0 |
| 7 Investments in securities | 060 | 4.393.065 | 4.426.792 |
| 8 Loans, deposits, etc. given | 061 | 690.159 | 0 |
| 9 Other financial assets | 062 | 0 | 0 |
| IV CASH AT BANK AND IN HAND | 063 | 49.316.239 | 44.034.062 |
| D ) PREPAID EXPENSES AND ACCRUED INCOME | 064 | 2.539.979 | 2.636.625 |
| E) TOTAL ASSETS (ADP 001+002+037+064) | 065 | 165.977.078 | 166.127.222 |
| OFF-BALANCE SHEET ITEMS LIABILITIES |
066 | 0 | 0 |
| A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) |
067 | 62.936.129 | 58.740.660 |
| I INITIAL (SUBSCRIBED) CAPITAL | 068 | 17.674.030 | 17.674.030 |
| II CAPITAL RESERVES | 069 | 0 | 0 |
| III RESERVES FROM PROFIT (ADP 071+072-073+074+075) | 070 | 8.292.952 | 8.781.385 |
| 1 Legal reserves | 071 | 2.019.936 | 2.508.369 |
| 2 Reserves for treasury shares | 072 | 7.413.414 | 7.392.245 |
| 3 Treasury shares and holdings (deductible item) | 073 | -1.140.398 | -1.119.229 |
| 4 Statutory reserves | 074 | 0 | 0 |
| 5 Other reserves | 075 | 0 | 0 |
| IV REVALUATION RESERVES | 076 | 0 | 0 |
| V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) | 077 | 0 | 0 |
| 1 Financial assets at fair value through other comprehensive income | 078 | 0 | 0 |
| (i.e. available for sale) 2 Cash flow hedge - effective portion |
079 | 0 | 0 |
| 3 Hedge of a net investment in a foreign operation - effective portion | 080 | 0 | 0 |
| 4 Other fair value reserves | 081 | 0 | 0 |
| 5 Exchange differences arising from the translation of foreign operations (consolidation) |
082 | 0 | 0 |
| VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084- | 083 | 14.499.150 | 22.845.208 |
| 085) 1 Retained profit |
084 | 14.499.150 | 22.845.208 |
| 2 Loss brought forward | 085 | 0 | 0 |
| VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088) | 086 | 22.469.997 | 9.440.037 |
| 1 Profit for the business year | 087 | 22.469.997 | 9.440.037 |
| 2 Loss for the business year | 088 | 0 | 0 |
| VIII MINORITY (NON-CONTROLLING) INTEREST | 089 | 0 | 0 |
| B) PROVISIONS (ADP 091 to 096) | 090 | 1.044.255 | 1.201.426 |
| 1 Provisions for pensions, termination benefits and similar obligations |
091 | 1.044.255 | 1.201.426 |
| 2 Provisions for tax liabilities 3 Provisions for ongoing legal cases |
092 | 0 | 0 |
| 4 Provisions for renewal of natural resources | 093 | 0 | 0 |
| 094 | 0 | 0 | |
| 5 Provisions for warranty obligations | 095 | 0 | 0 |
| 6 Other provisions | 096 | 0 | 0 |
| C) LONG-TERM LIABILITIES (ADP 098 to 108) | 097 | 12.560.241 | 12.133.903 |
| 1 Liabilities to undertakings within the group | 098 | 0 | 0 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the group | 099 | 0 | 0 |
| 3 Liabilities to companies linked by virtue of participating interests 4 Liabilities for loans, deposits etc. of companies linked by virtue of |
100 | 0 | 0 |
| participating interests | 101 | 0 | 0 |
| 5 Liabilities for loans, deposits etc. | 102 | 0 | 0 |
| 6 Liabilities to banks and other financial institutions | 103 | 12.559.454 | 12.124.342 |
| 7 Liabilities for advance payments | 104 | 0 | 0 |
| 8 Liabilities to suppliers | 105 | 0 | 0 |
| 9 Liabilities for securities | 106 | 0 | 0 |
| 10 Other long-term liabilities | 107 | 787 | 9.561 |
| 11 Deferred tax liability | 108 | 0 | 0 |
| D) SHORT-TERM LIABILITIES (ADP 110 to 123) | 109 | 63.499.187 | 60.059.289 |
| 1 Liabilities to undertakings within the group | 110 | 195.345 | 6.160.796 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the group | 111 | 0 | 0 |
| 3 Liabilities to companies linked by virtue of participating interests 4 Liabilities for loans, deposits etc. of companies linked by virtue of |
112 | 15.774.121 | 6.823.542 |
| participating interests | 113 | 0 | 0 |
| 5 Liabilities for loans, deposits etc. | 114 | 0 | 0 |
| 6 Liabilities to banks and other financial institutions | 115 | 2.014.266 | 2.196.010 |
| 7 Liabilities for advance payments | 116 | 3.293.044 | 3.075.712 |
| 8 Liabilities to suppliers 9 Liabilities for securities |
117 118 |
14.609.633 | 10.698.634 |
| 10 Liabilities to employees | 119 | 0 17.922.871 |
0 9.950.287 |
| 11 Taxes, contributions and similar liabilities | 120 | 8.500.785 | 5.590.551 |
| 12 Liabilities arising from the share in the result | 121 | 0 | 13.976.272 |
| 13 Liabilities arising from fixed assets held for sale | 122 | 0 | 0 |
| 14 Other short-term liabilities | 123 | 1.189.122 | 1.587.485 |
| E) ACCRUALS AND DEFERRED INCOME | 124 | 25.937.266 | 33.991.944 |
| F) TOTAL – LIABILITIES (ADP 067+090+097+109+124) | 125 | 165.977.078 | 166.127.222 |
| G) OFF-BALANCE SHEET ITEMS | 126 | 0 | 0 |
for the period 1.1.2025 to 30.6.2025 STATEMENT OF PROFIT OR LOSS
in EUR
| Submitter: ERICSSON NIKOLA TESLA D.D. | ADP | Same period of the previous year | Current period | ||||
|---|---|---|---|---|---|---|---|
| Item | code | Cumulative | Quarter | Cumulative | Quarter | ||
| 1 I OPERATING INCOME (ADP 002 to 006) |
2 001 |
3 108.821.988 |
4 57.156.135 |
5 110.593.189 |
6 56.169.834 |
||
| 1 Income from sales with undertakings within the group 2 Income from sales (outside group) |
002 003 |
424.577 105.432.658 |
102.685 55.579.394 |
244.455 107.260.253 |
133.451 54.488.513 |
||
| 3 Income from the use of own products, goods and services 4 Other operating income with undertakings within the group |
004 005 |
0 94.923 |
0 46.624 |
0 94.906 |
0 46.711 |
||
| 5 Other operating income (outside the group) | 006 | 2.869.830 | 1.427.432 | 2.993.575 | 1.501.159 | ||
| II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029) 1 Changes in inventories of work in progress and finished goods |
007 008 |
95.322.599 -5.630.292 |
51.280.991 -1.082.238 |
99.379.383 -4.308.945 |
51.678.635 -1.217.212 |
||
| 2 Material costs (ADP 010 to 012) a) Costs of raw materials and consumables |
009 010 |
34.829.227 24.544.506 |
18.981.158 12.754.091 |
33.829.805 22.219.053 |
17.834.325 10.480.070 |
||
| b) Costs of goods sold c) Other external costs |
011 012 |
0 10.284.721 |
0 6.227.067 |
0 11.610.752 |
0 7.354.255 |
||
| 3 Staff costs (ADP 014 to 016) | 013 | 59.225.925 | 30.013.638 | 61.633.321 | 30.816.172 | ||
| a) Net salaries and wages b) Tax and contributions from salary costs |
014 015 |
36.323.293 16.187.370 |
17.526.328 8.676.404 |
38.270.039 16.323.429 |
18.678.249 8.465.227 |
||
| c) Contributions on salaries 4 Depreciation |
016 017 |
6.715.262 2.603.465 |
3.810.906 1.279.238 |
7.039.853 2.513.016 |
3.672.696 1.289.099 |
||
| 5 Other costs 6 Value adjustments (ADP 020+021) |
018 019 |
4.216.457 0 |
2.108.466 0 |
5.013.600 0 |
2.769.412 0 |
||
| a) fixed assets other than financial assets b) current assets other than financial assets |
020 021 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| 7 Provisions (ADP 023 to 028) a) Provisions for pensions, termination benefits and similar obligations |
022 023 |
77.817 131.163 |
-19.271 34.691 |
698.586 690.277 |
186.839 179.700 |
||
| b) Provisions for tax liabilities | 024 | 0 | 0 | 0 | 0 | ||
| c) Provisions for ongoing legal cases d) Provisions for renewal of natural resources |
025 026 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| e) Provisions for warranty obligations f) Other provisions |
027 028 |
22.093 -75.439 |
21.477 -75.439 |
8.309 0 |
7.139 0 |
||
| 8 Other operating expenses III FINANCIAL INCOME (ADP 031 to 040) |
029 030 |
0 867.926 |
0 384.286 |
0 557.734 |
0 231.306 |
||
| 1 Income from investments in holdings (shares) of undertakings within the group |
031 | 0 | 0 | 0 | 0 | ||
| 2 Income from investments in holdings (shares) of companies linked by virtue of participating interests |
032 | 0 | 0 | 0 | 0 | ||
| 3 Income from other long-term financial investment and loans granted to undertakings within the group |
033 | 0 | 0 | 0 | 0 | ||
| 4 Other interest income from operations with undertakings within the | 034 | 0 | 0 | 0 | 0 | ||
| group 5 Exchange rate differences and other financial income from operations |
035 | 0 | 0 | 0 | 0 | ||
| with undertakings within the group 6 Income from other long-term financial investments and loans |
036 | 0 | 0 | 0 | 0 | ||
| 7 Other interest income 8 Exchange rate differences and other financial income |
037 038 |
792.932 9.667 |
365.224 -7.126 |
516.001 0 |
211.785 -2.648 |
||
| 9 Unrealised gains (income) from financial assets | 039 | 0 | 0 | 0 | 0 | ||
| 10 Other financial income IV FINANCIAL EXPENSES (ADP 042 to 048) |
040 041 |
65.327 550.852 |
26.188 432.123 |
41.733 259.300 |
22.169 156.119 |
||
| 1 Interest expenses and similar expenses with undertakings within the group |
042 | 0 | 0 | 0 | 0 | ||
| 2 Exchange rate differences and other expenses from operations with undertakings within the group |
043 | 0 | 0 | 0 | 0 | ||
| 3 Interest expenses and similar expenses 4 Exchange rate differences and other expenses |
044 045 |
550.852 0 |
432.123 0 |
239.499 19.801 |
136.318 19.801 |
||
| 5 Unrealised losses (expenses) from financial assets 6 Value adjustments of financial assets (net) |
046 047 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| 7 Other financial expenses | 048 | 0 | 0 | 0 | 0 | ||
| V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS |
049 | 0 | 0 | 0 | 0 | ||
| VI SHARE IN PROFIT FROM JOINT VENTURES VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF |
050 051 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| PARTICIPATING INTEREST VIII SHARE IN LOSS OF JOINT VENTURES |
052 | 0 | 0 | 0 | 0 | ||
| IX TOTAL INCOME (ADP 001+030+049 +050) X TOTAL EXPENDITURE (ADP 007+041+051 + 052) |
053 054 |
109.689.914 95.873.451 |
57.540.421 51.713.114 |
111.150.923 99.638.683 |
56.401.140 51.834.754 |
||
| XI PRE-TAX PROFIT OR LOSS (ADP 053-054) 1 Pre-tax profit (ADP 053-054) |
055 056 |
13.816.463 13.816.463 |
5.827.307 5.827.307 |
11.512.240 11.512.240 |
4.566.386 4.566.386 |
||
| 2 Pre-tax loss (ADP 054-053) | 057 | 0 | 0 | 0 | 0 | ||
| XII INCOME TAX XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059) |
058 059 |
5.916.033 7.900.430 |
4.477.985 1.349.322 |
2.072.203 9.440.037 |
821.949 3.744.437 |
||
| 1 Profit for the period (ADP 055-059) 2 Loss for the period (ADP 059-055) |
060 061 |
7.900.430 0 |
1.349.322 0 |
9.440.037 0 |
3.744.437 0 |
||
| DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations) XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS |
062 | 0 | 0 | 0 | 0 | ||
| (ADP 063-064) 1 Pre-tax profit from discontinued operations |
063 | 0 | 0 | 0 | 0 | ||
| 2 Pre-tax loss on discontinued operations XV INCOME TAX OF DISCONTINUED OPERATIONS |
064 065 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| 1 Discontinued operations profit for the period (ADP 062-065) 2 Discontinued operations loss for the period (ADP 065-062) |
066 067 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations) | |||||||
| XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062) 1 Pre-tax profit (ADP 068) |
068 069 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| 2 Pre-tax loss (ADP 068) XVII INCOME TAX (ADP 058+065) |
070 071 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071) 1 Profit for the period (ADP 068-071) |
072 073 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| 2 Loss for the period (ADP 071-068) APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements) |
074 | 0 | 0 | 0 | 0 | ||
| XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077) | 075 | 0 | 0 | 0 | 0 | ||
| 1 Attributable to owners of the parent 2 Attributable to minority (non-controlling) interest |
076 077 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS) I PROFIT OR LOSS FOR THE PERIOD |
078 | 7.900.430 | 1.349.322 | 9.440.037 | 3.744.437 | ||
| II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87) |
079 | 0 | 0 | 0 | 0 | ||
| III Items that will not be reclassified to profit or loss (ADP 081 to 085) | 080 | 0 | 0 | 0 | 0 | ||
| 1 Changes in revaluation reserves of fixed tangible and intangible assets |
081 | 0 | 0 | 0 | 0 | ||
| 2 Gains or losses from subsequent measurement of equity instruments at fair value through other comprehensive income |
082 | 0 | 0 | 0 | 0 | ||
| 3 Fair value changes of financial liabilities at fair value through statement of profit or loss, attributable to changes in their credit risk |
083 | 0 | 0 | 0 | 0 | ||
| 4 Actuarial gains/losses on the defined benefit obligation | 084 | 0 | 0 | 0 | 0 | ||
| 5 Other items that will not be reclassified | 085 | 0 | 0 | 0 | 0 | ||
| 6 Income tax relating to items that will not be reclassified | 086 | 0 | 0 | 0 | 0 | ||
| IV Items that may be reclassified to profit or loss (ADP 088 to 095) | 087 | 0 | 0 | 0 | 0 | ||
| 1 Exchange rate differences from translation of foreign operations 2 Gains or losses from subsequent measurement of debt securities at |
088 | 0 | 0 | 0 | 0 | ||
| fair value through other comprehensive income 3 Profit or loss arising from effective cash flow hedging |
089 090 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| 4 Profit or loss arising from effective hedge of a net investment in a foreign | 091 | 0 | 0 | 0 | 0 | ||
| operation 5 Share in other comprehensive income/loss of companies linked by virtue |
|||||||
| of participating interests | 092 | 0 | 0 | 0 | 0 | ||
| 6 Changes in fair value of the time value of option 7 Changes in fair value of forward elements of forward contracts |
093 094 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| 8 Other items that may be reclassified to profit or loss | 095 | 0 | 0 | 0 | 0 | ||
| 9 Income tax relating to items that may be reclassified to profit or loss | 096 | 0 | 0 | 0 | 0 | ||
| V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- 086 - 096) |
097 | 0 | 0 | 0 | 0 | ||
| VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097) |
098 | 7.900.430 | 1.349.322 | 9.440.037 | 3.744.437 | ||
| APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements) | |||||||
| VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 100+101) |
099 | 7.900.430 | 1.349.322 | 9.440.037 | 3.744.437 | ||
| 1 Attributable to owners of the parent 2 Attributable to minority (non-controlling) interest |
100 101 |
7.900.430 0 |
1.349.322 0 |
9.440.037 0 |
3.744.437 0 |
STATEMENT OF CASH FLOWS - indirect method for the period 1.1.2025 to 30.6.2025
| Submitter: ERICSSON NIKOLA TESLA D.D. | in EUR | ||
|---|---|---|---|
| Item | ADP code |
Same period of the previous year |
Current period |
| 1 | 2 | 3 | 4 |
| Cash flow from operating activities | |||
| 1 Pre-tax profit 2 Adjustments (ADP 003 to 010): |
001 002 |
13.816.463 2.444.464 |
11.512.240 2.549.428 |
| a) Depreciation | 003 | 2.603.465 | 2.513.016 |
| b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets |
004 | 1.176 | -124.962 |
| c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets |
005 | -63.744 | -33.726 |
| d) Interest and dividend income | 006 | -792.932 | -524.007 |
| e) Interest expenses | 007 | 550.852 | 239.498 |
| f) Provisions | 008 | 0 | 0 |
| g) Exchange rate differences (unrealised) | 009 | -53.545 | 125.430 |
| h) Other adjustments for non-cash transactions and unrealised gains and losses |
010 | 199.192 | 354.179 |
| I Cash flow increase or decrease before changes in working capital (ADP 001+002) |
011 | 16.260.927 | 14.061.668 |
| 3 Changes in the working capital (ADP 013 to 016) | 012 | -18.420.079 | -8.010.072 |
| a) Increase or decrease in short-term liabilities | 013 | -15.619.480 | -1.855.799 |
| b) Increase or decrease in short-term receivables | 014 | 4.647.787 | -899.351 |
| c) Increase or decrease in inventories | 015 | -6.947.157 | -5.810.457 |
| d) Other increase or decrease in working capital II Cash from operations (ADP 011+012) |
016 | -501.229 | 555.535 |
| 4 Interest paid | 017 018 |
-2.159.152 -213.416 |
6.051.596 -239.498 |
| 5 Income tax paid | 019 | -2.757.953 | -3.583.920 |
| A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) | 020 | -5.130.521 | 2.228.178 |
| Cash flow from investment activities | |||
| 1 Cash receipts from sales of fixed tangible and intangible assets | 021 | 456 | 106.401 |
| 2 Cash receipts from sales of financial instruments | 022 | 0 | 0 |
| 3 Interest received | 023 | 749.166 | 492.352 |
| 4 Dividends received | 024 | 874 | 8.007 |
| 5 Cash receipts from repayment of loans and deposits | 025 | 0 | 690.159 |
| 6 Other cash receipts from investment activities | 026 | 0 | 0 |
| III Total cash receipts from investment activities (ADP 021 to 026) | 027 | 750.496 | 1.296.919 |
| 1 Cash payments for the purchase of fixed tangible and intangible assets | 028 | -876.578 | -3.003.174 |
| 2 Cash payments for the acquisition of financial instruments | 029 | 0 | 0 |
| 3 Cash payments for loans and deposits for the period | 030 | 0 | 0 |
| 4 Acquisition of a subsidiary, net of cash acquired 5 Other cash payments from investment activities |
031 | 0 | 0 |
| IV Total cash payments from investment activities (ADP 028 to 032) | 032 033 |
0 -876.578 |
0 -3.003.174 |
| B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033) | 034 | -126.082 | -1.706.255 |
| Cash flow from financing activities | |||
| 1 Cash receipts from the increase in initial (subscribed) capital | 035 | 0 | 0 |
| 2 Cash receipts from the issue of equity financial instruments and debt financial instruments |
036 | 0 | 0 |
| 3 Cash receipts from credit principals, loans and other borrowings 4 Other cash receipts from financing activities |
037 038 |
0 0 |
0 0 |
| V Total cash receipts from financing activities (ADP 035 to 038) | 039 | 0 | 0 |
| 1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments |
040 | -935.571 | -4.616.528 |
| 2 Cash payments for dividends | 041 | -6.868 | -132.568 |
| 3 Cash payments for finance lease | 042 | -962.412 | -1.049.463 |
| 4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital |
043 | -257.764 | 0 |
| 5 Other cash payments from financing activities | 044 | 0 | 0 |
| VI Total cash payments from financing activities (ADP 040 to 044) | 045 | -2.162.615 | -5.798.559 |
| C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045) | 046 | -2.162.615 | -5.798.559 |
| 1 Unrealised exchange rate differences in respect of cash and cash equivalents |
047 | 7.739 | -5.541 |
| D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047) |
048 | -7.411.479 | -5.282.177 |
| E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD |
049 | 55.567.777 | 49.316.239 |
| F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049) |
050 | 48.156.298 | 44.034.062 |
for the period 1.1.2025 to 30.6.2025 STATEMENT OF CASH FLOWS - direct method
| Submitter: ERICSSON NIKOLA TESLA D.D. | |||
|---|---|---|---|
| Item | ADP code |
Same period of the previous year |
Current period |
| 1 | 2 | 3 | 4 |
| Cash flow from operating activities | |||
| 1 Cash receipts from customers | 001 | 0 | 0 |
| 2 Cash receipts from royalties, fees, commissions and other revenue | 002 | 0 | 0 |
| 3 Cash receipts from insurance premiums | 003 | 0 | 0 |
| 4 Cash receipts from tax refund | 004 | 0 | 0 |
| 5 Other cash receipts from operating activities | 005 | 0 | 0 |
| I Total cash receipts from operating activities (ADP 001 to 005) | 006 | 0 | 0 |
| 1 Cash payments to suppliers | 007 | 0 | 0 |
| 2 Cash payments to employees | 008 | 0 | 0 |
| 3 Cash payments for insurance premiums | 009 | 0 | 0 |
| 4 Interest paid | 010 | 0 | 0 |
| 5 Income tax paid | 011 | 0 | 0 |
| 6 Other cash payments from operating activities | 012 | 0 | 0 |
| II Total cash payments from operating activities (ADP 007 to 012) | 013 | 0 | 0 |
| A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 006 + 013) | 014 | 0 | 0 |
| Cash flow from investment activities | |||
| 1 Cash receipts from sales of fixed tangible and intangible assets | 015 | 0 | 0 |
| 2 Cash receipts from sales of financial instruments | 016 | 0 | 0 |
| 3 Interest received | 017 | 0 | 0 |
| 4 Dividends received | 0 | 0 | |
| 5 Cash receipts from the repayment of loans and deposits | 018 | ||
| 6 Other cash receipts from investment activities | 019 | 0 | 0 |
| III Total cash receipts from investment activities (ADP 015 to 020) | 020 021 |
0 0 |
0 0 |
| 1 Cash payments for the purchase of fixed tangible and intangible assets | 022 | 0 | 0 |
| 2 Cash payments for the acquisition of financial instruments | 023 | 0 | 0 |
| 3 Cash payments for loans and deposits | 024 | 0 | 0 |
| 4 Acquisition of a subsidiary, net of cash acquired | 025 | 0 | 0 |
| 5 Other cash payments from investment activities | 026 | 0 | 0 |
| IV Total cash payments from investment activities (ADP 022 to 026) | 027 | 0 | 0 |
| B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 021 + 027) | 028 | 0 | 0 |
| Cash flow from financing activities | |||
| 1 Cash receipts from the increase in initial (subscribed) capital | 029 | 0 | 0 |
| 2 Cash receipts the from issue of equity financial instruments and debt financial instruments |
030 | 0 | 0 |
| 3 Cash receipts from credit principals, loans and other borrowings | 031 | 0 | 0 |
| 4 Other cash receipts from financing activities | 032 | 0 | 0 |
| V Total cash receipts from financing activities (ADP 029 to 032) | 033 | 0 | 0 |
| 1 Cash payments for the repayment of credit principals, loans andother | 034 | 0 | 0 |
| borrowings and debt financial instruments | |||
| 2 Cash payments for dividends | 035 | 0 | 0 |
| 3 Cash payments for finance lease | 036 | 0 | 0 |
| 4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital |
037 | 0 | 0 |
| 5 Other cash payments from financing activities | 038 | 0 | 0 |
| VI Total cash payments from financing activities (ADP 034 to 038) | 039 | 0 | 0 |
| C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 033 +039) | 040 | 0 | 0 |
| 1 Unrealised exchange rate differences in respect of cash and cash equivalents |
041 | 0 | 0 |
| D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 014 + 028 + 040 + 041) |
042 | 0 | 0 |
| E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD |
043 | 0 | 0 |
| F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (042+043) |
044 | 0 | 0 |
in EUR
| STATEMENT OF CHANGES IN EQUITY for the period from 1.1.2025 to |
30.6.2025 | in EUR | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Attributable to owners of the parent Fair value of |
|||||||||||||||||
| Item | ADP | Initial (subscribed) | Reserves for | Treasury shares | Revaluation | financial assets through other Cash flow hedge - |
Hedge of a net investment in a |
Other fair value | Exchange rate differences from |
Retained profit / | Profit/loss for the | Total attributable to | Minority (non controlling) |
Total capital and | |||
| code | capital | Capital reserves Legal reserves | treasury shares | and holdings (deductible item) |
Statutory reserves Other reserves reserves |
comprehensive effective portion income (available |
foreign operation - effective portion |
reserves | translation of foreign operations |
loss brought forward |
business year | owners of the parent |
interest | reserves | |||
| for sale) | 18 (3 to 6 - 7 | ||||||||||||||||
| 1 Previous period |
2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 10 |
11 12 |
13 | 14 | 15 | 16 | 17 | + 8 to 17) | 19 | 20 (18+19) |
| 1 Balance on the first day of the previous business year | 01 | 17.674.030 | 0 1.230.444 |
4.156.663 | 1.255.883 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 38.710.913 | 0 | 60.516.167 | 0 | 60.516.167 | |
| 2 Changes in accounting policies 3 Correction of errors |
02 03 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
|
| 4 Balance on the first day of the previous business year (restated) (ADP 01 to 03) | 04 | 17.674.030 | 0 1.230.444 |
4.156.663 | 1.255.883 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 38.710.913 | 0 | 60.516.167 | 0 | 60.516.167 | |
| 5 Profit/loss of the period | 05 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 22.469.997 | 22.469.997 | 0 | 22.469.997 | |
| 6 Exchange rate differences from translation of foreign operations | 06 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 7 Changes in revaluation reserves of fixed tangible and intangible assets | 07 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 8 Gains or losses from subsequent measurement of financial assets at fair value | 08 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| through other comprehensive income (available for sale) 9 Profit or loss arising from effective cash flow hedge |
09 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 10 Profit or loss arising from effective hedge of a net investment in a foreign operation | 10 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 11 Share in other comprehensive income/loss of companies linked by virtue of | |||||||||||||||||
| participating interests | 11 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 12 Actuarial gains/losses on the defined benefit obligation 13 Other changes in equity unrelated to owners |
12 13 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
|
| 14 Tax on transactions recognised directly in equity | 14 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit) |
15 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement | |||||||||||||||||
| procedure | 16 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 17 Decrease in initial (subscribed) capital arising from the reinvestment of profit | 17 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 18 Redemption of treasury shares/holdings | 18 | 0 | 0 0 |
4.000.000 | 627.764 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | -4.000.000 | 0 | -627.764 | 0 | -627.764 | |
| 19 Payments from members/shareholders 20 Payment of share in profit/dividend |
19 20 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 -19.879.530 |
0 0 |
0 -19.879.530 |
0 0 |
0 -19.879.530 |
|
| 21 Other distributions and payments to members/shareholders | 21 | 0 | 0 0 |
-743.249 | -743.249 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 457.259 | 0 | 457.259 | 0 | 457.259 | |
| 22 Transfer to reserves according to the annual schedule 23 Increase in reserves arising from the pre-bankruptcy settlement procedure |
22 23 |
0 0 |
0 789.492 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 |
0 0 |
-789.492 0 |
0 0 |
0 0 |
0 0 |
0 0 |
|
| 24 Balance on the last day of the previous business year reporting period (ADP 04 to 23) |
24 | 17.674.030 | 0 2.019.936 |
7.413.414 | 1.140.398 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 14.499.150 | 22.469.997 | 62.936.129 | 0 | 62.936.129 | |
| APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS) | |||||||||||||||||
| I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 06 to 14) |
25 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+25) |
26 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 22.469.997 | 22.469.997 | 0 | 22.469.997 | |
| III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED | 27 | 0 | 0 789.492 |
3.256.751 | -115.485 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | -24.211.763 | 0 | -20.050.035 | 0 | -20.050.035 | |
| DIRECTLY IN EQUITY (ADP 15 to 23) | |||||||||||||||||
| Current period 1 Balance on the first day of the current business year |
28 | 17.674.030 | 0 2.019.936 |
7.413.414 | 1.140.398 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 36.969.147 | 0 | 62.936.129 | 0 | 62.936.129 | |
| 2 Changes in accounting policies 3 Correction of errors |
29 30 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
|
| 4 Balance on the first day of the current business year (restated) (AOP 28 to 30) | 31 | 17.674.030 | 0 2.019.936 |
7.413.414 | 1.140.398 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 36.969.147 | 0 | 62.936.129 | 0 | 62.936.129 | |
| 5 Profit/loss of the period | 32 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 9.440.037 | 9.440.037 | 0 | 9.440.037 | |
| 6 Exchange rate differences from translation of foreign operations | 33 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 7 Changes in revaluation reserves of fixed tangible and intangible assets | 34 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 8 Gains or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale) |
35 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 9 Profit or loss arising from effective cash flow hedge | 36 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 10 Profit or loss arising from effective hedge of a net investment in a foreign operation | 37 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 11 Share in other comprehensive income/loss of companies linked by virtue of | |||||||||||||||||
| participating interests 12 Actuarial gains/losses on the defined benefit obligation |
38 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 13 Other changes in equity unrelated to owners | 39 40 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
|
| 14 Tax on transactions recognised directly in equity 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy |
41 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| settlement procedure or from the reinvestment of profit) | 42 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure |
43 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 17 Decrease in initial (subscribed) capital arising from the reinvestment of profit | 44 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 18 Redemption of treasury shares/holdings | 45 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 19 Payments from members/shareholders 20 Payment of share in profit/dividend |
46 47 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 -13.976.272 |
0 0 |
0 -13.976.272 |
0 0 |
0 -13.976.272 |
|
| 21 Other distributions and payments to members/shareholders | 48 | 0 | 0 0 |
-21.169 | -21.169 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 340.766 | 0 | 340.766 | 0 | 340.766 | |
| 22 Carryforward per annual plane 23 Increase in reserves arising from the pre-bankruptcy settlement procedure |
49 50 |
0 0 |
0 488.433 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 0 0 |
0 0 |
0 0 |
-488.433 0 |
0 0 |
0 0 |
0 0 |
0 0 |
|
| 24 Balance on the last day of the current business year reporting period (ADP 31 to 50) |
51 | 17.674.030 | 0 2.508.369 |
7.392.245 | 1.119.229 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 22.845.208 | 9.440.037 | 58.740.660 | 0 | 58.740.660 | |
| APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS) | |||||||||||||||||
| I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF | 52 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| TAX (ADP 33 to 41) II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32 |
|||||||||||||||||
| do 52) | 53 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | 0 | 9.440.037 | 9.440.037 | 0 | 9.440.037 | |
| III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 42 to 50) |
54 | 0 | 0 488.433 |
-21.169 | -21.169 | 0 | 0 | 0 0 |
0 0 |
0 | 0 | -14.123.939 | 0 | -13.635.506 | 0 | -13.635.506 |
NOTES TO FINANCIAL STATEMENTS - TFI
(drawn up for quarterly reporting periods) Name of the issuer: ERICSSON NIKOLA TESLA D.D.
Personal identification number (OIB): 84214771175
Reporting period: Q2 2025
Notes to financial statements for quarterly periods include:
a) explanation of business events relevant to understanding changes in the statement of financial position and financial performance for the reporting semi-annual period of the issuer with respect to the last business year: information is provided regarding these events and relevant information published in the last annual financial statement is updated (items 15 to 15C IAS 34 - Interim financial reporting)
b) information on the access to the latest annual financial statements, for the purpose of understanding information published in the notes to financial statements drawn up for the semi-
annual reporting period c) a statement explaining that the same accounting policies are applied while drawing up financial statements for the semi-annual reporting period as in the latest annual financial statements
or, in the case where the accounting policies have changed, a description of the nature and effect of the changes (item 16.A (a) IAS 34 - Interim financial reporting)
d) a description of the financial performance in the case of the issuer whose business is seasonal (items 37 and 38 IAS 34 - Interim financial reporting) e) other comments prescribed by IAS 34 - Interim financial reporting f) in the notes to quarterly periods financial statements, in addition to the information stated above, information in respect of the following matters shall be disclosed:
-
undertaking's name, registered office (address), legal form, country of establishment, entity's registration number and, if applicable, the indication whether the undertaking is undergoing liquidation, bankruptcy proceedings, shortened termination proceedings or extraordinary administration
-
adopted accounting policies (only an indication of whether there has been a change from the previous period) 4. the amount and nature of individual items of income or expenditure which are of exceptional size or incidence
-
the total amount of any financial commitments, guarantees or contingencies that are not included in the balance sheet, and an indication of the nature and form of any valuable security which has been provided; any commitments concerning pensions of the undertaking within the group or company linked by virtue of participating interest shall be disclosed separately
-
amounts owed by the undertaking and falling due after more than five years, as well as the total debts of the undertaking covered by valuable security furnished by the undertaking,
6. average number of employees during the financial year
specifying the type and form of security
- where, in accordance with the regulations, the undertaking capitalised on the cost of salaries in part or in full, information on the amount of the total cost of employees during the year broken down into the amount directly debiting the costs of the period and the amount capitalised on the value of the assets during the period, showing separately the total amount of net
salaries and the amount of taxes, contributions from salaries and contributions on salaries 8. where a provision for deferred tax is recognised in the balance sheet, the deferred tax balances at the end of the financial year, and the movement in those balances during the financial year
9. the name and registered office of each of the undertakings in which the undertaking, either itself or through a person acting in their own name but on the undertaking's behalf, holds a participating interest, showing the proportion of the capital held, the amount of capital and reserves, and the profit or loss for the latest financial year of the undertaking concerned for which
financial statements have been adopted; the information concerning capital and reserves and the profit or loss may be omitted where the undertaking concerned does not publish its balance sheet and is not controlled by another undertaking
- the number and the nominal value or, in the absence of a nominal value, the accounting par value of the shares subscribed during the financial year within the limits of the authorised capital 11. the existence of any participation certificates, convertible debentures, warrants, options or similar securities or rights, with an indication of their number and the rights they confer 12. the name, registered office and legal form of each of the undertakings of which the undertaking is a member having unlimited liability 13. the name and registered office of the undertaking which draws up the consolidated financial statements of the largest group of undertakings of which the undertaking forms part as a controlled group member
14. the name and registered office of the undertaking which draws up the consolidated financial statements of the smallest group of undertakings of which the undertaking forms part as a controlled group member and which is also included in the group of undertakings referred to in point 13
-
the place where copies of the consolidated financial statements referred to in points 13 and 14 may be obtained, provided that they are available
-
the nature and business purpose of the undertaking's arrangements that are not included in the balance sheet and the financial impact on the undertaking of those arrangements, provided that the risks or benefits arising from such arrangements are material and in so far as the disclosure of such risks or benefits is necessary for the purposes of assessing the
a) financial position of the undertaking
Explanation of business events relevant to understanding changes in the statement of financial position and financial performance are
published in Press info/Management letter. The financial statements have been prepared in accordance with International Financial Reporting Standards adopted by the European Union (IFRSs), on the historical cost basis, with the exception of financial instruments which are carried at fair value through profit or loss. Policies
b) have been consistently applied to all the periods presented.
Last issued annual financial statements are available at ZSE and as well at www.ericsson.hr. www.ericsson.hr/en/reports
c)
The interim financial statements for the reporting period are prepared applying the same accounting policies as in the latest annual financial statements presented in the Annual Report.
d)
The issuer does not have sesonal bussines activities. e)
Segment report 30.6.2025 30.6.2024 30.6.2025 30.6.2024 30.6.2025 30.6.2024 30.6.2025 30.6.2024 30.6.2025 30.6.2024 30.6.2025 30.6.2024 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 Segment sales revenue 74.823 69.198 31.660 35.312 781 1.078 241 269 0 0 107.505 105.857 Operating profit 9.926 11.812 4.388 4.287 -47 95 11 15 -3.064 -2.710 11.214 13.499 Networks Digital Services Managed Services Other Unallocated Total
| From 2025, sales is additionally monitored by following segments: | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Digital society | R&D and services | Telecom | Total | |||||||
| 30.6.2025 | 30.6.2024 30.6.2025 30.6.2024 30.6.2025 30.6.2024 30.6.2025 30.6.2024 | |||||||||
| EUR 000 | EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 EUR 000 | |||||||||
| Segment sales revenue | 7.776 | 7.241 | 70.839 | 70.917 | 28.890 | 27.699 | 107.505 | 105.857 | ||
| Operating profit | -29 | -73 | 8.105 | 11.025 | 3.138 | 2.547 | 11.214 | 13.499 |
| Transactions with related parties: | 30.6.2025 30.6.2024 EUR 000 EUR 000 |
|
|---|---|---|
| Sales | 70.431 | 71.003 |
| Purchases | 14.431 | 16.515 |
|---|---|---|
| Balances with related parties | ||
| 30.6.2025 31.12.2024 EUR 000 EUR 000 |
||
| Receivable | 36.703 | 40.035 |
12.984 15.969 1. Payable
Issuer's name, registered office (address), legal form, country of establishment, entity's registration number are disclosed in the sheet General data of this document.
-
Accounting policies have not been changed in relation to previous reporting period.
-
Financial commitments in term of guarantees that are not included in the balance sheet are not material and Management Board believes that
4. possibility of any outflow is remote. The Company has no commitments concerning pensions that are in scope of IAS 19.
In the reporting period there were no individual items of income or expenditure of exceptional size or incidence. 5.
The Company has no debt falling due after more than five years. At the balance sheet date, the Company does not have debts covered by valuable securities/insurance.
- The average number of employees during the reporting period is 2798 (Q2 2024: 2776). The Company does not categorise employees.
7. No cost of salaries was capitalised in the reporting period.
-
Provision for deferred tax is calculated annualy, at balance sheet date 31 December. There were no movement in deferred tax balances during
-
reporting period.
-
The Company has no participating interest.
-
There were no shares subscribed during the financial year within the limits of the authorised capital.
-
The Company has no participation certificates, convertible debentures, warrants, options or similar securities or rights.
13. and 14. The Company has no shares in companies having unlimited liability.
The company Telefonaktiebolaget LM Ericsson (Sweden, Torshamnsgatan 21, SE-164 83 Stockholm) prepares the consolidated financial
15. statements for the larger Group of companies, in which Ericsson Nikola Tesla Group is included as an associate member of Ericsson.
Those consolidated reports are available at www.ericsson.com/en/investors/financial-reports. 16.
The Company did not have any arrangements that are not included in the balance sheet, where the risks or benefits arising from such
arrangements are material.
17. There are no material events arising after the balance sheet date which are not reflected in the profit and loss account or balance sheet.
APPENDIX (Reconciliation of the differences arrising due to structure and classification of the positions in TFI-POD in XLS format compared
to classification of the positions in the audited annual report in PDF):
Balance Sheet Within the category Non-current assets in Statement of financial position total amount of Loans and receivables is indicated in
TFI-POD form under AOP 023 Loans, deposits, etc. to undertakings within the group, 028 Loans, deposits, etc. given,034 Customer receivables,035 Other receivables.
Within the category Current assets in Statement of financial position total amount of Other receivables, Income tax receivables is indicated in TFI-POD form under AOP 051 Receivables from government and other institutions,052 Other receivables, 061 Loans,
deposits, etc. given.
Within the category Equity in Statement of financial position total amount of Retained earnings is indicated in TFI-POD form under AOP 083 Retaind profit/loss brought forward and 086 Profit or Loss for the business year.
Additionally, within the category Non-current liabilities in Statement of Financial position total amount of Borrowings and Lease liabilities are shown under AOP 103 Liabilities to bank and other financial institutions
Within the category Current liabilities in Statement of financial position total amount of Trade and other payables and Income tax
payable is indicated in TFI-POD in AOP 117 Liabilities to suppliers,119 Liabilities to employees,120 Taxes, contributions and similar liabilities.
Within the category Current liabilities in Statement of financial position total amount of Accrued charges and deferred revenue and Contract liabilities is indicated in TFI-POD form under AOP 116 Liabilities for advance payments, 124 Accruals and deferred
income. Also, within the category Current liabilities in Statement of financial position total amount of Provisions is indicated in TFI-POD
Additionally, both categories Borrowings and Lease liabilities in Statement of Financial position are shown under AOP 115 Liabilities to bank form under AOP 123 Other short-term liabilities.
and other financial institutions.
P&L Cost structure in Statement of comprehensive income (FS form) is according to function and the presentation is different from TFI-POD forms where cost is presented by nature. Total amount of Cost of Sales, Selling, Administrative and Other operating expenses equals to amount of AOP 007 Operating
The amount indicated in AOP 006 Other operating income (outside the group), is indicated in Other operating income and Impairment reversal on financial assets in Statement of Comprehensive income (FS form) expenses.