u-blox unveils its “Focus – Innovate – Execute” strategy at its 2023 Capital Markets Day
|
u-blox AG / Key word(s): Strategic Company Decision
Thalwil, Switzerland – 21 November 2023 – u-blox (SIX: UBXN), a global leader in Positioning and Connectivity technologies, holds today its 2023 Capital Markets Day. Chairman André Müller and CEO Stephan Zizala, together with members of the Executive Committee, will discuss the company’s new “Focus – Innovate – Execute” strategy, designed to drive long-term profitable growth and sustainable value creation. Strategy: Focus – Innovate – Execute u-blox has decided to discontinue future cellular chipset development, leading to an expected non-cash impairment of CHF 65-70 million in December 2023. Renewed focus on our cellular module business aims to gain market share via leveraging our sales and distribution channels and leveraging our trustworthiness as Swiss supplier in a multi-polar world. Innovate Execute New mid/long-term financial model New reporting structure enhances transparency 2024 to be a transition year before growth resumes u-blox’s Chairman André Müller commented: “I am very pleased to announce of our focused strategy today, aiming to capitalize on the strength of our business model and better align it with end-markets demand. The strategy, focused on long-term sustainable growth, is designed to drive u-blox’s value for years to come and deliver strong returns to our shareholders”. u-blox’s CEO Stephan Zizala added: “Our refined strategy “Focus - Innovate - Execute” is designed to unleash the full potential of the incredible u-blox team. After almost one year as CEO, I’m convinced more than ever that we are well positioned to significantly contribute and benefit from secular growth drivers such as autonomous driving, remote healthcare, asset tracking and industrial digitalization.”
Conference call and webcast details For participating in today’s event, please click here. [1] 2023 as base of new cycle. For EBIT / FCF margin, targets as average over the cycle
For further information, please contact:
Rafael Duarte Head of Investor Relations Phone: +41 79 966 89 12
Lena Cati The Equity Group Inc. Phone: +41 79 966 89 12 About u-blox u-blox (SIX: UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial and consumer markets. Its 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.
Disclaimer End of Inside Information |
| 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: | 1777625 |
| End of Announcement | EQS News Service |
|
|
1777625 21-Nov-2023 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.