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Annual Report 2017 Connectivity making a big impact

Highlights

Key figures

2017 has been another good year for u‑blox, with strong revenue growth and increased profitability underpinned by exciting new product and service launches. The year also saw us unveil brand‑new partnerships and joint ventures that promise to deliver more of the cutting‑edge services our customers are demanding.

 

Financial highlights

Revenue in m CHF at u‑blox

403.7
Revenue 2016: 360.2
Growth rate: 12.1%

Operating profit (EBIT) in m CHF

65.1
Operating profit 2016: 59.0
Growth rate: 10.3%

Net profit in m CHF

51.3
Net profit 2016: 46.2
Growth rate: 11.0%

Adjusted numbers

Operating profit (EBIT) adjusted in m CHF

78.0
Operating profit (EBIT) adjusted 2016: 69.8
Growth rate: 11.8%

Net profit adjusted in m CHF

57.6
Net profit adjusted 2016: 54.8
Growth rate: 5.1%

Gross profit margin in %

45.6
Gross profit margin in % 2016: 46.4

Operating cashflow in m CHF

60.5
Operating cashflow 2016: 93.6
Growth rate: -35.4%

Equity ratio in %

60.7
Equity ratio in % 2016: 67.0

2017 business highlights

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New product launches across our portfolio

We have continued to develop our unique, comprehensive product range, which covers positioning, cellular and short range communication. New launches in 2017 included the ZOE-M8 range of ultra small GNSS modules, the 4G LTE TOBY-L4 module for high-bandwidth automotive uses, the SARA-N2 series for narrowband IoT use and the secure NINA-W1 series for the industrial Wi-Fi market.

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Expanding our services

Alongside our products, we are growing our service provision. Our AssistNow GNSS accelerator service broke through the 1bn uses per month mark. We also launched the Sapcorda joint venture, to bring high-precision positioning services to the mass market.

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Growing and diversifying our customer base

Our customer base continues to expand, and now numbers more than 6100. Diversity is key to this growth: our top 84 customers are based in 24 different countries, and no single client accounts for more than 6% of our sales.

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Hiring the best talent

To ensure we keep bringing the best products and services to market, we have continued to hire the best talent across the globe, bolstering our workforce in our 14 R&D centers and 15 sales offices. Globally, we employed 964 people (end 2017), of whom 67% work in R&D.

Letter to the shareholders

Customer Relationships

Harvester on field

Strategy

As the IoT takes hold across our key markets, the importance of dependable connectivity and location‑awareness is at an all‑time high. We are taking advantage of this incredible opportunity, providing high‑quality products and services that meet both current and future needs. And through our relentless innovation, we’re constantly striving to be even better at everything we do.

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Products

u‑blox has established its position as a leading supplier of chips and modules on the strength of its unmatched research, development and technological expertise.

Why work for u-blox?

Innovation

Innovation is what’s made us a market leader in wireless positioning and communication. And our desire to push the boundaries of what technology can do is stronger than ever. This is why we pledge to spend 16.2% of our revenue on R&D, looking for ways to further improve our product design, manufacturing, distribution and maintenance.

Markets

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Customers

The diversity of our customer base is one of our greatest strengths. We work with more than 6100 large and small businesses.

Learn more

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Values & brand

u-blox has three core values. They define what we believe and how we behave towards customers, partners and colleagues.

Learn more

Risk management

Maintaining our position as a market leader means proactively identifying and mitigating the risks we face. From dealing with currency fluctuations to protecting our intellectual property, we have comprehensive measures in place to safeguard our business.

Sustainability

We use our human, financial and technological resources to initiate change and make communities stronger.

Share information

u‑blox pursues an open and ongoing information policy with the general public and the capital markets. The company also meets investors regularly throughout the year, presents its financial results at analyst meetings and road shows, hosts an analyst day, and keeps its shareholders regularly informed about its business through press releases.

 

The online annual report is available in March and presented at the press conference. It is also available online at:

www.u‑blox.com/en/report.

The half‑year report is published in September.

  • April 17, 2018: Closing of share register for the Annual General Meeting
  • April 24, 2018: Annual General Meeting
  • April 26, 2018: Proposed ex‑dividend trading day
  • April 30, 2018: Proposed dividend payout date
  • August 24, 2018: Publication of half‑year results 2018
  • November 21, 2018: Analyst day

Share information (at December 31, 2017)

Stock Exchange SIX Swiss Exchange
Swiss Security Number / ISIN   3336167 / CH0033361673
Ticker UBXN
Nominal value   CHF 0.90
Shares issued   6’957’170
Reuters UBXN S
Bloomberg UBXN SW

 

Share price (in CHF) 2017 2016 2015
Highest 224.70 249.00 220.00
Lowest 160.70 162.30 115.40
Closing at December 31, 191.80 191.20 214.50
Market capitalization at December 31, (Mio CHF) 1'334 1'307 1'443

 

Key Figures 2017 2016 2015
Registered shares with a nominal value of CHF 0.90 6’957’170 6’835’094 6’725’736
Nominal share capital (in TCHF) 6’261 6'152 6'053
Basic earnings per share (in CHF) 7.42 6.80 5.55

 

 

Information for investors

Investor contact