U Blox Holding AG
SIX:UBXN
U Blox Holding AG
u-blox Holding AG engages in the manufacture and sale of wireless semiconductors. The company is headquartered in Thalwil, Zuerich. The company went IPO on 2007-10-26. The firm is engaged in the development, manufacture and marketing of the products and services of global positioning system (GPS) products. The company offers a range of GPS positioning products, including GPS receiver chipsets, GPS receiver modules, GPS receiver boards, GPS smart antennas and GPS antennas, which are in used for navigation, automatic vehicle location, security, traffic control, location based services, timing and surveying. The firm operates in two segments: GPS/wireless products, which is engaged in the development and sale of embedded GPS receivers and wireless modules; and wireless services, which is engaged in the provision of wireless communication technology services in terms of reference designs, software, in-car and Vehicle-to-Vehicle (V2V) communication systems, among others. In August 2013, the Company opened an LTE Radio Frequency (RF) design center in Cork, Ireland.
u-blox Holding AG engages in the manufacture and sale of wireless semiconductors. The company is headquartered in Thalwil, Zuerich. The company went IPO on 2007-10-26. The firm is engaged in the development, manufacture and marketing of the products and services of global positioning system (GPS) products. The company offers a range of GPS positioning products, including GPS receiver chipsets, GPS receiver modules, GPS receiver boards, GPS smart antennas and GPS antennas, which are in used for navigation, automatic vehicle location, security, traffic control, location based services, timing and surveying. The firm operates in two segments: GPS/wireless products, which is engaged in the development and sale of embedded GPS receivers and wireless modules; and wireless services, which is engaged in the provision of wireless communication technology services in terms of reference designs, software, in-car and Vehicle-to-Vehicle (V2V) communication systems, among others. In August 2013, the Company opened an LTE Radio Frequency (RF) design center in Cork, Ireland.
Revenue Growth: u-blox delivered double-digit revenue growth of 15% at constant currencies in H1 2023, despite a strong prior year and weak macro environment.
Profitability: Adjusted EBIT reached CHF62 million with an 18.6% margin, and adjusted net profit was CHF48 million, showing profitability remained strong.
Gross Margin Decline: Gross profit margin fell to 46.8% from 48.9% a year prior, mainly due to product mix changes, and management expects margin pressure to continue in H2.
Cash Flow Challenge: Free cash flow was negative CHF13 million in H1, mainly due to increased net working capital from higher inventories and receivables.
Guidance Cut: Full-year 2023 guidance was lowered, primarily due to currency headwinds and cautious customer ordering as supply chain conditions normalize.
Order Visibility: About 90% of the lower end of new revenue guidance is already covered by orders in the system.
Market Trends: Strongest revenue growth came from automotive and industrial markets, while Americas and consumer segments remained weak.
Product & Partnership: New products and partnerships, including with Orbcomm for satellite IoT, are positioned to support future growth.
