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Financial highlights

Revenue in m CHF

393.3

Operating profit (EBIT) in m CHF

48.3

Net profit in m CHF

38.5

Gross profit margin in %

45.0

Adjusted operating profit (EBIT) in m CHF

60.4

Adjusted net profit in m CHF

48.2

Operating cash flow in m CHF

36.3

Free cash flow in m CHF (before aquisitions)

-22.9

Equity ratio in %

63.1
Financial summary

Annual results 2018

What we’ve been doing in 2018

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Disruptive new products

Last year, we launched the latest generation of our positioning technology: the F9 platform. The F9 family of high-precision positioning devices bring dual-frequency, centimeter-level accuracy to the mass market for the first time. This is two orders of magnitude more accurate than standard GNSS – representing a significant and disruptive development. Combined with correction data services, these chips and modules are enabling exciting new applications to emerge in the industrial and automotive fields. Road safety is also set to receive a major boost, following the launch of our UBX-P3 vehicle-to-everything (V2X) chips. The UBX-P3 will give tomorrow’s cars the ability to ‘see’ each other electronically, even when there’s no visual line of sight. This will enable proactive warnings to drivers and, in the future, trigger autonomous vehicle actions that protect road users. To bring our V2X chips to market, we entered into several partnership with leading players in the industry.

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High-added-value services

We continue to invest in services that add significant value for our customers and open up exciting new markets and opportunities. Our Sapcorda joint venture is on track to deliver a global commercial correction data service, while our alliance with digital security specialist Kudelski Group will provide premium-grade, Swiss-built security for customers deploying IoT networks.

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Proactive IP management

As part of our commitment to adhering to the highest intellectual property management practices and protecting our customers, we continue to establish Intellectual Property (IP) royalty agreements with licensors for standard essential patents. This gives our clients the confidence that they can use our products without infringing third-party IP rights. The latest example is an agreement with Philips, covering our 2G, 3G and 4G cellular products.

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Award-winning research

Our R&D collaboration with the University of Bristol (UK) on "Reconfigurable Wireless Transceivers for Global Connectivity" saw us crowned winners of the Research Collaboration category at the TechWorks Awards 2018 – the highest accolade in the UK deep tech industry.

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Broadened customer base

We have continued our strategy of growing and diversifying our customer base. In 2018, we served over 6900 clients across 54 countries. Furthermore, our 10 largest customer accounts cover just 26.5% of our sales.

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u-blox goes to space

GNSS has become an indispensable tool in space missions. Earth observation missions, for example, depend on accurate information of the satellite’s position when data is sensed remotely. Accurate timing information is equally important. Four u-blox NEO-M8T GNSS modules, loaded with experimental firmware, were launched into space on a SpaceX Falcon 9 rocket as part of the Spaceflight SSO-A: SmallSat Express mission. They are now orbiting Earth on an Astrocast nano-satellite.

Letter to the shareholders

How we create value

More than 6900 customers around the world