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Annual Report 2017 Connectivity making a big impact


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

Revenue 2016: 360.2
Growth rate: 12.1%

Operating profit (EBIT) in m CHF

Operating profit 2016: 59.0
Growth rate: 10.3%

Net profit in m CHF

Net profit 2016: 46.2
Growth rate: 11.0%

Adjusted numbers

Operating profit (EBIT) adjusted in m CHF

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

Net profit adjusted in m CHF

Net profit adjusted 2016: 54.8
Growth rate: 5.1%

Gross profit margin in %

Gross profit margin in % 2016: 46.4

Operating cashflow in m CHF

Operating cashflow 2016: 93.6
Growth rate: -35.4%

Equity ratio in %

Equity ratio in % 2016: 67.0

2017 business highlights


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.


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.


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.


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


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.



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 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.




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

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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.

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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.


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

Information for investors

Investor contact