u-blox AG: u-blox Reports Record FY 2022 Revenues of Approximately CHF 624 Million

Rhea-AI Summary

u-blox, based in Thalwil, Switzerland, reported record revenues of approximately CHF 624 million for FY 2022, marking a 51% growth compared to FY 2021. In 4Q 2022, revenues reached around CHF 149 million, a 24% increase year-over-year. The growth was widespread, particularly strong in the APAC region, driven by effective supply chain management and increased customer order fulfillment. CEO Stephan Zizala expressed optimism about sustained growth in 2023, although he anticipates a normalization of growth rates towards historical averages. Detailed FY 2022 results are set to be announced on 10 March 2023.

Positive

• Record FY 2022 revenue of approximately CHF 624 million, a growth of 51% YoY.
• 4Q 2022 revenue of around CHF 149 million, a 24% increase from 4Q 2021.
• Broad demand for solution offerings across regions, especially in APAC.
• Effective supply chain management led to increased output and customer order fulfillment.

Negative

• Future growth rates expected to normalize towards historical averages after exceptional growth in 2022.

Ad hoc announcement pursuant to article 53 LR

THALWIL, SWITZERLAND / ACCESSWIRE / January 11, 2023 / u-blox (SIX:UBXN), a global leader in wireless and positioning technologies, today announced its preliminary (unaudited) revenues for the twelve-month (FY) and fourth quarter (4Q) periods ended 31 December 2022.

During 2022, u-blox achieved a full-year record revenue level of approximately CHF 624 million (unaudited), corresponding to an exceptionally strong growth rate of 51% as compared to FY 2021. 4Q 2022 revenue amounted to around CHF 149 million, an increase of 24% against a strong 4Q 2021. The growth was broadly based across all regions, with APAC showing the strongest increase. Also, u-blox noted very broad demand for its solution offerings in all of its applications. The successful implementation of short-term as well as long-term initiatives to minimize supply chain disruptions resulted in month-by-month increased output, allowing u-blox to fulfill a significant amount of customer orders which resulted in increased billings throughout the year.

Stephan Zizala, CEO of u-blox, stated, "2022 was an exceptionally strong year for our customers and consequently for u-blox. Due to timely fulfillment of orders, several key customers successfully ramped up promising new product offerings using our solutions. Thus, during 2022, we gained further market traction due to our ability to continuously expand our customer base with innovative, reliable, and easy to implement solutions."

"Our strong orderbook at year-end provides us with good visibility into 2023. Coming from an exceptionally strong growth in 2022, we expect our growth to continue but growth rates to normalize towards our historical average rate."

u-blox will announce FY 2022 results and a more detailed outlook on 2023 on 10 March 2023.

About u-blox

u-blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. Their smart and reliable solutions, services and products let people, vehicles, and machines determine their precise position and communicate wirelessly over cellular and short-range networks. With a broad portfolio of chips, modules, and secure data services and connectivity, u-blox is uniquely positioned to empower its customers to develop innovative and reliable solutions for the Internet of Things, quickly and cost-effectively. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA.
Find us on www.u‑blox.com, Facebook, LinkedIn, Twitter @ublox and YouTube.

u-blox investor relations contacts:

Switzerland and Europe:
Doris Rudischhauser, c/o Dynamics Group AG
+41 79 410 81 88 / doris.rudischhauser@u-blox.com

US:
Lena Cati, The Equity Group Inc.
+1 (212) 836-9611 / lcati@equityny.com

u‑blox AG
Zürcherstrasse 68
8800 Thalwil
Switzerland
Phone +41 44 722 74 44
info@u-blox.com
www.u‑blox.com

Disclaimer
This release contains certain forward-looking statements. Such forward-looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the u-blox Group to differ materially from those expressed or implied. These include risks related to the success of and demand for the Group's products, the potential for the Group's products to become obsolete, the Group's ability to defend its intellectual property, the Group's ability to develop and commercialize new products in a timely manner, the dynamic and competitive environment in which the Group operates, the regulatory environment, changes in currency exchange rates, the Group's ability to generate revenues and profitability, and the Group's ability to realize its expansion projects in a timely manner. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this report. u-blox is providing the information in this release as of this date and does not undertake any obligation to update any forward-looking statements contained in it as a result of new information, future events or otherwise.

SOURCE: u-blox AG

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FAQ

What were u-blox's revenues for FY 2022?

u-blox reported record revenues of approximately CHF 624 million for FY 2022.

How much did u-blox earn in 4Q 2022?

In 4Q 2022, u-blox's revenue was around CHF 149 million.

What is the growth rate of u-blox's revenues compared to FY 2021?

u-blox achieved a growth rate of 51% in FY 2022 compared to FY 2021.

Which region showed the strongest revenue growth for u-blox?

The APAC region demonstrated the strongest revenue growth for u-blox.

When will u-blox announce its FY 2022 results?

u-blox will announce its FY 2022 results on 10 March 2023.