u-blox Reports Full-Year 2022 Financial Results

Thalwil, Switzerland – 10 March 2023 – u-blox (SIX: UBXN), a leading provider of positioning and wireless connectivity semiconductor solutions, today announced its financial results for the full year 2022. As announced on 11 January 2023, the company achieved record revenue of CHF 624 million. EBITDA and EBIT margins slightly exceeded guided numbers, reflecting strong demand across all regions and industrial and automotive target markets.

“2022 was an exceptionally strong year for u-blox. Our revenue grew considerably and we achieved a strong level of profitability and cash-flow. During the year, several key customers successfully ramped up promising new product offerings using our solutions. These results confirm the successful implementation of our innovation strategy which is focused on industrial and automotive target markets. Our ability to continuously provide customers with innovative, reliable and easy to implement solutions should fuel our future growth,” said Stephan Zizala, u-blox’s Chief Executive Officer.

Financial highlights for 2022

(All comparisons versus the prior year period unless otherwise noted)

• Revenue of CHF 624 million (previous year: CHF 414 million), an increase of 51% (at constant exchange rates: 47%) 

• EBITDA (adjusted) of CHF 170 million (previous year: CHF 72 million), an increase of 136%  

• EBITDA margin (adjusted) of 27.2% (previous year: 17.4%), an increase of 983bps  

• EBIT (adjusted) of CHF 131 million (previous year: CHF 35 million), an increase of 274%  

• EBIT margin (adjusted) of 21.0% (previous year: 8.5%), an increase of 1257bps  

• Cash flow from operating activities of CHF 117 million (previous year: CHF 98 million), an increase of 20% 

• Free cash flow of CHF 66 million (previous year: CHF 56 million), an increase of 18%