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Financial Report

Financial highlights

The fiscal year 2018 demonstrated the resilience of our business model:

  • Financial performance reflects a difficult environment in 2018
  • Market outlook remains favorable
    • EMEA on continued expansion with 21% growth in 2018
    • Americas declined slightly by 6% as some customers were delaying the migration to LTE based connectivity
    • APAC grew except in China: Temporary decline of 13%
  • Important products launched in 2018
  • R&D efforts continued at high pace – significant product launches ahead
  • EBITDA and EBIT at guided level: CHF 71.6m resp. CHF 48.3m
  • 2.6% revenue decline as compared to 2017
  • Gross profit (adjusted) down by 3.7%
  • Positive Free Cash Flow (before changes in NWC) of CHF 5.2m
  • Reduced cash flow from operating activities
    • Temporary increase in working capital to assure delivery reliability
  • Outlook 2019
    • Business growth expected in all regions

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