u-blox AG: u-blox increases revenue and EBITDA guidance for FY 2022

u-blox increases revenue and EBITDA guidance for FY 2022
Thalwil, Switzerland – 31 May 2022 – u-blox Holding AG (SIX:UBXN), a global leader in wireless and positioning technologies, today announced an updated guidance for the full year 2022.

Thanks to strong billings and well managed supply challenges, the outlook for the year has improved. As such, the company now expects its full year 2022 revenue to increase in the range of 27% to 39% and further improvements in EBITDA and EBIT margins, as compared to the initial FY 2022 guidance announced on 11 March 2022.
 

(in CHF millions)	Actual FY 2021 (adjusted)	Guidance 2022 (1) (2) (adjusted) As of 11 March 2022	Updated guidance 2022 (1) (2) (adjusted) As of 30 May 2022
Revenue	414.1m	+21…32%	+27…39%
EBITDA	72.1m	+16…18%	+17…21%
EBIT	35.1m	+8…10%	+10…14%

¹⁾ Exchange rate assumptions for 2022: Average rate of 2021 (USD: 0.914, EUR: 1.081, GBP: 1.257)
²⁾ Changes as compared to FY 2021

The increased FY 2022 revenue guidance reflects steady improvements in supply chain challenges thanks to solid support from the company’s highly diversified supplier base, expanded geographic customer footprint, robust demand for new and existing products and solutions and continued strong order intake. While macro-economic and geopolitical factors including tangled supply chains, inflation and the war in Ukraine remain as risk factors, the mitigation has progressed well leading to a more positive outlook on the market and business environment for the company. 

To keep up with current market demands, u-blox continually introduced a range of new products and solutions which are receiving strong customer support. As a result, both bookings and billings have been exceptionally strong since the beginning of 2022. Specifically, growth in bookings continues to exceed the current revenues growth rate and consequently order book increased to a level almost double than a year ago. 

Furthermore, the implementation of sales price adjustments and the continued focus on increasing operating leverage are resulting slowly but steadily in improved profit margins, finally a result also of the achieved product mix. 

Thomas Seiler, CEO of u-blox noted, “Despite the ongoing challenging environment, demand and interest in our products has remained strong across all markets and business segments. We believe that we are well positioned to continue to provide our customers with value added based on innovative products and solutions. Our business strategy is designed to maintain solid customer long-term relationships despite supply constraints. We look forward to providing additional updates in August when we report our first half 2022 financial results.”   Financial calendar Half year results 2022:                      19 August, 2022 Capital Markets day:                          22 November, 2022
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. (www.u‑blox.com) Find us on Facebook, LinkedIn, Twitter @ublox and YouTube

u‑blox investor relations contacts:
Switzerland and Europe:
Doris Rudischhauser, c/o Dynamics Group AG
Phone: +41 79 410 81 88
E‑mail: [email protected]

US:
Serena Liegey, c/o The Equity Group Inc.
Phone: +1 (212) 836-9630
E‑mail: [email protected]  

Lena Cati, c/o The Equity Group Inc.
Phone: +1 (212) 836-9611
E‑mail: [email protected]

u‑blox AG
Zürcherstrasse 68
8800 Thalwil
Switzerland
Phone +41 44 722 74 44
Fax +41 44 722 74 47
[email protected]
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.