WHAT YOU GET?

The Exit Ready masterclass, facilitated by Roland Frasier, is strategically segmented into 8 modules, each covering a specific area of focus. Each area of focus is covered in full detail with easy-to-follow instructions on how to implement each vital step. Additionally, you’ll have LIVE support provided each week during the Exit Ready LIVE coaching sessions. In 8 short weeks, you’ll have a complete understanding and a clear path for your business or to help anyone confidently become Exit Ready.

• Week 1 – Module 1

• Week 2 – Module 2

• Week 3 – Module 3

• Week 4 – Module 4

• Week 5 – Module 5

• Revenues increased the fastest, 14% however the revenue increase is going to R&D and SG&A and not to the investors, i.e., earnings.
• SG&A is increasing the fastest, in terms of absolute dollars, indicating they are defending their territory oand they have new products being introduced in new markets, new at least to what the customer thinks that Ericsson is all about as a company.
• Gross margin's decreased, also indicating they are defending their territory
• R&D increased in terms of absolute dollars, meaning they see opportunity in future markets and are developing future products and are nurturing future markets.
• Cash went down a WHOLE LOT, likely spending the cash on developing future products and partnerships
• Ericsson's financials in Q1 2022 and Q1 2023, in terms of percentages look a lot like Nokia, R&D and SG&A is several percentage points higher, but coupled with decreasing margin, the best interpretation IMO is that the few percentage points increase is likely a defensive and catch up to the competition maneuver.
• IMO the Q1 comparison says Ericsson is on the defensive, I wouldn't buy this stock and watch for a quarterly turn around in the numbers before I would buy Ericsson
• SG&A as a percent of revenue increased 2.6% YOY, this is a huge increase and probably a defensive move as well as trying to determine future product line and markets for the company. The reason it is most likely a defensive move is headline news for Ericsson hasn't announced any major new products or markets for Ericsson.

• Cisco is sitting fat and happy, it's core business is still good, selling core internet equipment, their gross margins indicate they are doing good, a drop in the gross margins says they are under some pressure, but it is manageable.
• Net sales are increasing with inflation, so they are doing good
• R&D is high but justifiable, they are looking for new opportunities, one of which is to sell equipment to Private Wireless, their are several announcements where Cisco is providing some of the equipment for private wireless, it might be mostly Wifi portion as well as internet servers to the net. Cisco is one of the major companies behind ORAN (Open Ran) and they are developing or have developed a portfolio and service model around ORAN.
• SG&A is a very high portion of revenue, in fact it is the largest of the three comparisons, I assume that the most of the SG&A is going to sales. This would indicate they have a new product, going into a new market and letting people know, most likely Private Wireless and ORAN related.

• R&D is high, meaning Nokia is committed to developing new markets
• YOY change are good, the profit, revenue are increasing
• Gross margins decreased, this is likely cause Nokia is chewing into Ericsson's market space, this is also indicated by the fact that Ericsson's gross margins are decreasing, this is Ok and can be considered as an offensive tactic as long as your gross margin drop is less than or equal to the competitor you are attacking.
• The YOY of R&D as a percent of revenue dropped by -1.1%, which is a fairly significant drop, this is likely because Nokia is trying to bump up it's earnings and allocating more revenue as return to the investors.
• The 8% increase in SG&A YOY is likely due to new market place development which Nokia has been investing in the last 5 years, i.e., it is time to start selling products and it is no longer just a R&D expense. This is probably a correct interpretation since Nokia market share has increased in all business units.
• Generally Nokia, from a CEO point of view, strategy is working, the earnings miss is within the financial engineering realm that the CEO can tweek, at least on a yearly basis. Also note that the percentage of R&D and SG&A expense as a percent of revenue by Ericsson is very similar to Nokia now.