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Explore our Annual Report

Annual Report 2019

Financial highlights

Revenue in m CHF


EBITDA (adjusted) in m CHF


Operating profit (EBIT) (adjusted) in m CHF


Net profit before minorities in m CHF


Net profit before minorities (adjusted) in m CHF


Gross profit margin (adjusted) in %


Operating cash flow in m CHF


Free cash flow in m CHF (before aquisitions)


Equity ratio in %


Annual results 2019

Leadership requires vision, the ability to plan for the long-term and to successfully navigate operations during challenging conditions. We remained focused on the driving force of our business – a world and a future that will undoubtedly be one defined by connectivity, location, and communication.

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Annual Results

Letter to
Our Shareholders

2019 at a glance - what we have been doing this year


We sold our 500 millionth GNSS receiver

Satellite positioning is playing an ever-greater role in consumer, industrial and automotive applications. We are riding this strong wave of demand and 2019 saw us sell our 500 millionth global navigation satellite system (GNSS) receiver.


We unveiled exciting new products

Some were evolutionary. Others were revolutionary. Highlights include the SARA-R5 cellular series, which delivers high-security, low-energy communication and positioning to the IoT. The Bluetooth NINA-B40 and BMD-360 short range modules enable completely new types of applications. And the ZED-F9K dead reckoning module caters to the automotive market’s safety-critical need for high-precision positioning.


Markus Schaefer joined our Executive Team

To accelerate our global expansion, continuously grow our sales channels, and define our product marketing and communications strategy, we appointed Markus Schaefer to our Executive Team as Director of Global Marketing and Sales. Markus Schaefer has an impressive track record in senior sales leadership positions at global semiconductor companies.


We acquired Rigado’s Bluetooth module business

To broaden our short range product portfolio, particularly for the consumer market, we acquired the Bluetooth module business from Rigado. In addition to having a more compelling proposition for customers who require highly cost-effective communication modules, we also now have a large number of new customers.


Our customer base continued to grow

Thanks to the efforts of our teams around the world, we have continued to expand our customer base. It now numbers 7,200 organizations, spread across 22 countries. As always, we continue to minimize our reliance on any one customer – our 10 largest customers account for just 19.5% of our sales.


Our Senior 5G Tech Lead was named on the Women of M2M and IoT list

Everyone at u-blox was both proud and delighted when Sylvia Lu, our Senior 5G Tech Lead, was selected for the prestigious Women of M2M and IoT Award, by Connected World. Selected by a panel of senior business technology leaders, the IoT list recognizes the impact Lu and others are having on the wider connected tech industry.

More than 7200 customers around the world