u-blox Holding AG

Latest Results (14.08.2024):

Revenue

u-blox Holding AG reported a revenue of CHF 576.9 million for the year 2023, reflecting a decline of 7.5% compared to CHF 623.9 million in 2022. The revenue decrease was influenced by a negative impact of 4.8% due to foreign currency exchange rates, primarily from the strengthening of the Swiss Franc against the US Dollar.

Gross Profit

The gross profit (adjusted) for u-blox Holding AG in 2023 was CHF 254.3 million, down from CHF 307.2 million in 2022. The gross profit margin (adjusted) also decreased to 44.1% in 2023 from 49.2% the previous year. This decline was mainly due to a negative mix effect despite good performance in the Cellular segment.

Research and Development Expenses

u-blox Holding AG's R&D expenses (adjusted) increased by 10.5% in 2023, reaching CHF 117.4 million compared to CHF 106.3 million in 2022. As a percentage of revenue, R&D expenses rose to 20.4% in 2023 from 17.0% in the previous year, driven by the hiring of new R&D staff.

Operating Profit (EBIT)

The adjusted EBIT for u-blox Holding AG in 2023 was CHF 69.7 million, a significant decrease from CHF 131.3 million in 2022. Consequently, the adjusted EBIT margin dropped to 12.1% in 2023 from 21.0% in the prior year. The company also paid CHF 6.0 million in income tax in 2023, compared to receiving CHF 4.9 million in 2022.

Net Profit

u-blox Holding AG's net profit (adjusted) for 2023 was CHF 51.1 million, down from CHF 109.0 million in 2022. The diluted EPS (adjusted) for 2023 was CHF 7.01 per share, a decrease from CHF 15.36 per share in the previous year. The change in net working capital improved significantly in the second half of the year, contributing to a cash release of about CHF 20 million.