u-blox AG: u-blox Reports First Half 2023 Revenue Growth of 13% Compared to the Prior Year Period

THALWIL, SWITZERLAND / ACCESSWIRE / July 12, 2023 / u-blox (SIX:UBXN), a global provider of leading positioning and wireless communication technologies and services, today announced its preliminary (unaudited) revenues for the first half (1H) period ended 30 June 2023.

• 1H 2023 revenues amounted to CHF 332 million.
• 2Q 2023 revenues amounted to CHF 166 million.
  These compare to revenues of
  • CHF 294 million in 1H 2022, an increase of 13% (at constant currencies: +15%)
  • CHF 156 million in 2Q 2022, an increase of 7% (at constant currencies: +13%)
  • CHF 166 million in 1Q 2023, sequentially unchanged
    (at constant currencies: +3%)
• 1H 2023 revenue is in line with the full year 2023 guidance released on 10 March 2023.

Stephan Zizala, CEO of u-blox, stated, "The revenue growth in the first half of 2023 is in line with the guidance we provided back in March. Thanks to our sound technological capabilities and our strong customer relations, we grew in our automotive and industrial target markets. In the first half of 2023, growth was mainly driven by APAC and EMEA while the Americas region was contracting compared to the first half of 2022. Design-win activities for our structural growth drivers in automotive and industrial target applications have increased remarkably, securing our long-term growth."

Additional first half 2023 financial and operational highlights

• CHF 60 million bond was paid back in April 2023.
• Automotive:
  • Secured a design-win in automated driving with a leading car manufacturer valued in the mid double-digit million CHF range over the life of the agreement; delivery is expected to commence in 2026.
  • Launched NEO-F9P, an innovative positioning module for Telematic Control Units incorporating industry's advanced sensor fusion for superior reliability and advanced security features against hacker attacks.
• Industrial: Launched the low-power NEO-F9P positioning module for centimeter accuracy in navigation of industrial automation machinery in the smallest ever high-precision module form factor.

Upcoming events
Half-year results: 18 August 2023
Nine-month revenue: 11 October 2023

About u-blox

u-blox (SIX: UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. Its smart and reliable solutions, services and products 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 secure data services and connectivity, u-blox is uniquely positioned to empower its customers to develop innovative and reliable 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. (www.u-blox.com)

Find us on Facebook, LinkedIn, Twitter @ublox, Instagram, and YouTube

u-blox investor relations contacts:

Switzerland and Europe:
Doris Rudischhauser, c/o Dynamics Group AG
+41 79 410 81 88 / doris.rudischhauser@u-blox.com

US:
Lena Cati, The Equity Group Inc.
+1 (212) 836-9611 / lcati@equityny.com

u-blox AG
Zürcherstrasse 68
8800 Thalwil
Switzerland

Phone +41 44 722 74 44
info@u-blox.com
www.u-blox.com

Disclaimer

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.

SOURCE: u-blox AG