u-blox reports its first quarter 2024 trading update
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u-blox AG / Key word(s): Quarter Results Werbung
Thalwil, Switzerland – 24 April 2024 – u-blox (SIX: UBXN), a global provider of leading positioning and wireless communication technologies and services, announces its trading update for the first quarter of 2024. u-blox generated revenue of CHF 56.0 million in the first quarter of 2024, compared to Werbung
EBIT, on an IFRS basis, declined to CHF -20.4 million from CHF 28.1 million in the first quarter of 2023. The respective EBIT margin declined to -36.4% from 17.0% one year earlier. EBIT (adjusted) declined to CHF -18.6 million in the first quarter of 2024, compared to CHF 29.8 million one year earlier. The respective EBIT margin (adjusted) declined to -33.2% from 18.0% one year earlier. The decline reflects the lower operational leverage following the decline in revenue. Stephan Zizala, CEO of u-blox, commented, “The results achieved in the first quarter of 2024 were weak as expected. Our view for 2024 is unchanged: based on our experience and input from customers, we expect a sequential recovery over the next quarters.” u-blox remains positive on its long-term development prospects. Demand and requirements for semiconductor solutions for automated and autonomous driving, asset tracking, healthcare offerings, and industrial automation will grow significantly. As confirmed by our design wins, u-blox is well on track to profitably grow with its positioning and wireless connectivity semiconductor solutions and services business. Werbung
Guidance for Q2 2024 Conference call For further information, please contact:
u-blox (SIX:UBXN) provides semiconductor chips, modules, and IoT services that reliably locate and connect every thing. Our cutting-edge solutions drive innovation for the car of the future and the Internet of Things. Headquartered in Thalwil (Zurich), Switzerland, we have a global presence of 1,400 experts who enable our customers to build solutions for a precise, smart, and sustainable future.
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| Language: | English |
| Company: | u-blox AG |
| Zürcherstrasse 68 | |
| 8800 Thalwil | |
| Switzerland | |
| Phone: | +41 44 722 74 44 |
| Fax: | +41 44 722 74 47 |
| E-mail: | ir@u-blox.com |
| Internet: | www.u-blox.com |
| ISIN: | CH0033361673 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1887337 |
| End of Announcement | EQS News Service |
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1887337 24-Apr-2024 CET/CEST
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