23.08.2019 – u-blox Holding AG

u-blox AG: u-blox reports first half 2019 financial results

u-blox AG / Key word(s): Half Year Results
u-blox AG: u-blox reports first half 2019 financial results

23.08.2019 / 07:00


u-blox reports first half 2019 financial results

2019 half-year highlights

Thalwil, Switzerland - August 23, 2019 - u-blox (SIX: UBXN), a global
provider of senior positioning and wireless communication technologies,
today announced results for the first half year.

- Revenues of CHF 190.6 million compared to H1,2018 revenues of CHF199.0
million, a decline of 4.2%

- APAC returned to growth and increased revenue by 8% compared to H1.2018;
China saw growth of 14%

Gross profit (adjusted) was CHF 86.1 million compared to CHF 94.0 million in
H1.2018, a decline of 8.4% and gross margin decreased to 45.2% compared to
47.2% in H1.2018 (45.2% for FY 2018)

- EBIT (adjusted) fell to CHF 19.7 million compared to CHF 34.9 million in

- EBITDA (adjusted) declined to CHF 32.7 million compared to CHF 45.1
million in H1.2018

- Operating activities generated a cash flow increase to CHF 33.1million
compared to CHF 13.7 million in H1.2018

- Positive free cash flow (before acquisitions) of CHF 3.9 million

- Net profits (adjusted) were CHF 13.6 million compared to CHF 30.2 million
in H1.2018

- Strong growth in number of customers compared to H1.2018

- Important product launches - new chip platform and modules

- R & D pipeline expanded - significant product launches ahead

- Full year revenue, EBITDA, and EBIT guidance have been adjusted reflecting
macro-economic uncertainties

Remark: All numbers in this report are adjusted. IFRS numbers are provided
in the first table of this press release.

For more information, please refer to the online version at:
Half year report (PDF)
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, August 23, at 10:00 AM CET. A
live slide presentation will be available for viewing during the call of the
link below.

To participate, please dial the following number:

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/ublox190823/indexl.html

About u-blox
u-blox (SIX: UBXN) is a global provider of advanced 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 services supporting services, it is uniquely located 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 with offices in Europe, Asia, and the USA.
Find us on Facebook , Google+ , LinkedIn , Twitter @ublox and YouTube

Financial calendar
Analyst day: November 20, 2019
Full year results 2019: March 12, 2020
Annual General Meeting: April 23, 2020

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

u-blox AG
Zurberstrasse 68
8800 Thalwil
Phone +41 44 722 74 44
Fax +41 44 722 74 47
info @ u -blox.com

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 original English, the French version is binding.