u-blox AG

u-blox reports first half 2023 revenue growth of 13% compared to the prior year period

u-blox AG / Key word(s): Quarter Results u-blox AG: u-blox reports first half 2023 revenue growth of 13% compared to the prior year period 12-Jul-2023 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to article 53 LR

u-blox reports first half 2023 revenue growth of 13% compared to the prior year period

Thalwil, Switzerland – 12 July 2023 – u-blox (SIX: UBXN), a global provider of leading positioning and wireless communication technologies and services, today announced its preliminary (unaudited) revenues for the first half (1H) period ended 30 June 2023.

• 1H 2023 revenues amounted to CHF 332 million.
• 2Q 2023 revenues amounted to CHF 166 million.
  These compare to revenues of
  • CHF 294 million in 1H 2022, an increase of 13% (at constant currencies: +15%)
  • CHF 156 million in 2Q 2022, an increase of 7% (at constant currencies: +13%)
  • CHF 166 million in 1Q 2023, sequentially unchanged
    (at constant currencies: +3%)
• 1H 2023 revenue is in line with the full year 2023 guidance released on 10 March 2023.

Stephan Zizala, CEO of u-blox, stated, “The revenue growth in the first half of 2023 is in line with the guidance we provided back in March. Thanks to our sound technological capabilities and our strong customer relations, we grew in our automotive and industrial target markets. In the first half of 2023, growth was mainly driven by APAC and EMEA while the Americas region was contracting compared to the first half of 2022. Design-win activities for our structural growth drivers in automotive and industrial target applications have increased remarkably, securing our long-term growth.”

Additional first half 2023 financial and operational highlights

• CHF 60 million bond was paid back in April 2023.

• Automotive:
  • Secured a design-win in automated driving with a leading car manufacturer valued in the mid double-digit million CHF range over the life of the agreement; delivery is expected to commence in 2026.
  • Launched NEO-F9P, an innovative positioning module for Telematic Control Units incorporating industry’s advanced sensor fusion for superior reliability and advanced security features against hacker attacks.
• Industrial: Launched the low-power NEO-F9P positioning module for centimeter accuracy in navigation of industrial automation machinery in the smallest ever high-precision module form factor.

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