November 8, 2017 / 1:50 PM / a year ago

Ericsson sees operating margin of at least 10 percent by 2020

STOCKHOLM, Nov 8 (Reuters) - Mobile network gear maker Ericsson said on Wednesday it aims to reach an operating margin excluding restructuring of at least 10 percent by 2020, implying a slower pace of profitability improvement amid tough end-markets.

Ericsson had previously said it aimed to reach a margin of 12 percent beyond 2018. The company said it remained committed to this ambition but that the starting point has become “more challenging” and would take longer to achieve.

Ericsson was also targeting a gross margin of between 37 and 39 percent by 2020, the firm said in a statement ahead of an investor update in New York.

Reporting by Olof Swahnberg and Helena Soderpalm; editing by Niklas Pollard

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