13.03.2020 – u-blox Holding AG

u-blox AG: u-blox announces Full Year 2019 Results

13.03.2020 / 07:00

Press Release

u-blox announces Full Year 2019 Results

Thalwil, Switzerland - March 13, 2020 - u-blox (SIX:UBXN), a global leader
in wireless and positioning technologies, today announced its financial
results for the full year 2019.

Financial Summary

- Revenues of CHF 385.1 million compared to CHF 393.3 million last year, a
decline of 2.1%

- Gross Profit (adjusted) of CHF 175.1 million compared to CHF 177.9 million
last year, a decline of 1.6%, and resulting in a gross margin of 45.5%
versus 45.2% last year

- EBIT (adjusted) of CHF 43.1 million, compared to CHF 60.4 million last

- Net Profit (adjusted) before minority interests of CHF 32.0 million,
compared to CHF 48.2 million last year

- Cash flow from operating activities of CHF 77.3 million compared to CHF
36.3 million in 2018

- Free cash flow of CHF 10.5 million (CHF 21.3 million before acquisitions),
compared to CHF -27.0 million last year

- EBITDA (adjusted) of CHF 71.7 million, compared to CHF 81.2 million last

- CHF 127.4 million of cash and cash equivalents at year-end 2019, compared
to CHF 136.3 million at year-end 2018

Business Highlights / Achievements

- Sold 500 millionth GNSS receiver, demonstrating the ever-greater role of
satellite positioning in consumer, industrial and automotive applications.

- Acquired the Bluetooth module business from Rigado in July 2019, which
broadened u-blox's short-range product portfolio, adding a large number of
new customers, new distribution relationships, and a team of talented

- Expanded existing partnerships with Sapcorda and Kudelski to grow u-blox's
wireless services business to provide customers with even greater

- Continued to make significant investments into R&D, given that u-blox is
currently capitalizing six new platforms across all technologies.

For more information, please refer to the online versions at:
Press release at website
2019 annual report and video summary
Presentation (PDF)

Conference call and webcast details
Thomas Seiler, CEO and Roland Jud, CFO, will host a conference call and
webcast with analysts and investors Friday, March 13, at 10:00 AM CET. A
live slide presentation will be available for viewing during the call from
the link below.

To participate, please dial the following number approximately 10 minutes
prior to the start of the call:

Switzerland / Europe: +41 (0) 58 310 50 00
United Kingdom: +44 (0) 207 107 06 13
United States: +1 (1) 631 570 56 13

Webcast Participants' Links:
Pre-Registration Link: https://ccwebcast.eu/links/ublox200313/indexl.html

The webcast will be available at the u-blox website after the event.

About u-blox

u-blox (SIX:UBXN) is a global provider of leading positioning and wireless
communication technologies for the automotive, industrial, and consumer
markets. Their solutions let people, vehicles, and machines determine their
precise position and communicate wirelessly over cellular and short range
networks. With a broad portfolio of chips, modules, and a growing ecosystem
of product supporting data services, u-blox is uniquely positioned to
empower its customers to develop innovative solutions for the Internet of
Things, quickly and cost-effectively. With headquarters in Thalwil,
Switzerland, the company is globally present with offices in Europe, Asia,
and the USA.

Find us on www.u-blox.com, Facebook, LinkedIn, Twitter @ublox and YouTube

u-blox contact:
Gitte Jensen
Investor Relations
Phone +41 44 722 7486

u-blox AG
Zürcherstrasse 68
8800 Thalwil
Phone +41 44 722 74 44
Fax +41 44 722 74 47

Financial calendar
Annual general meeting: April 23, 2020
Half year results 2020: August 21, 2020
Analyst day 2020: November 25, 2020

This release contains certain forward-looking statements. Such
forward-looking statements reflect the current views of management and are
subject to known and unknown risks, uncertainties and other factors that may
cause actual results, performance or achievements of the u-blox Group to
differ materially from those expressed or implied. These include risks
related to the success of and demand for the Group's products, the potential
for the Group's products to become obsolete, the Group's ability to defend
its intellectual property, the Group's ability to develop and commercialize
new products in a timely manner, the dynamic and competitive environment in
which the Group operates, the regulatory environment, changes in currency
exchange rates, the Group's ability to generate revenues and profitability,
and the Group's ability to realize its expansion projects in a timely
manner. Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those described in this report. u-blox is providing the
information in this release as of this date and does not undertake any
obligation to update any forward-looking statements contained in it as a
result of new information, future events or otherwise.

This press release is published in German and English. Should the German
translation differ from the English original, the English version is


Issuer: u-blox AG
Key word(s): Finance

End of Corporate News