Ericsson Nikola Tesla Q2 22 - Cancellation of activities in Belarus takes toll
-Top line down, both yoy and compared to our estimates, mainly due to weaker performance on the Croatian market-Termination of the e-Health contract in Belarus as well as pressure on wage growth reflected in profit margins nosedive
-The reported figures are yoy down and well below our expectations and we see the negative market reaction as justified
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