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.”
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