Financial Analysis Account Results 2015 on the Group Ericsson Spain

Hello everyone,

It seems to us appropriate  to share with you the analysis we have done since STC on the group Ericsson Spain (EEM, ENI and SLU) financial statements report of the has shared with the Legal Representation of employees (RLT)

1.- Financial Analysis Account Results EEM 2015

Data extracted from the audited financial statements and submitted to the administration by Ericsson EEM are as follows: (Expressed in € million)

 

Analysis STC:

An increase of 7.76% increase in turnover in 2015 occurs compared to a decrease in operating income of 23% approximately. Visible increase in staff costs due to the 26.6 M € of expense that meant the compensations of the 2015 ERE. Highlight here, that, the number of employees in 2012 in Ericsson Spain match with the employees in 2015,  although during this period there was a significant downsizing due to the different collective processes redundancies executed.

We would like to emphasize that senior management salaries,  excluding the CEO, has been increased,  from 2014 to 2015 in 77,000 euros, so it should be noted that there have been no compensation of senior management personnel during Fiscal year 2015.

Regarding board member salaries, noted that wages have already increased by relevant about 4.42% during 2015.

2.- Financial Analysis Account Results ENI

Data extracted from the audited financial statements and submitted to the administration by Ericsson ENI are as follows:

Análisis STC:

There has been a decrease in turnover of 8% and a decrease in operating income of approximately 7.5%. rather smaller amounts to those initially expected. Increase of staff of 6%  during 2015.

The senior management personnel, regardless of the Board of Directors in Ericsson Spain, S.A., they receive their wages through the matrix company.

3.- Financial Analysis Account Results SLU

Data extracted from the audited financial statements and submitted to the administration by Ericsson SLU are as follows:

 Análisis STC:

There has been an increase in turnover of 14% and an increase in operating income of 3% approx.

There has been an increase in the workforce of 12% in 2015 very similar than in  2014.

As summary, and even if they want to persuade us with a different message, Ericsson Spain group  is in good health, unfortunately this good health has not been enough for the company to stop executing years collective redundancies like in these past years.

We still think there were never extra employees in Ericsson España, and in fact, currently no employees are left other either. The staff remains  virtually unchanged, but what have really change are the salary conditions for new employees which are clearly worst conditions than leaving employees.  Take a look to this graphic of Ericsson España employees evolution in the past 7 years

The remuneration to senior management personnel continue to rise above the average of the employees, and these improvements in wages occur in years of processes of collective redundancies. Although a priori it appears that the percentage rise for senior management is not very high in 2015, it is significantly higher than other employees, that in a vast majority has ZERO rise.

Any clarification or additional information you need not hesitate to contact us.

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