U-blox Reports Positive Free Cash Flow Amid Declining Revenue

In 2024, u-blox AG reported a positive free cash flow of CHF 10.1 million despite a challenging year marked by a significant revenue decline of 54%, totaling CHF 262.9 million. The company attributes this cash flow to proactive working capital management, maintaining a strong net cash position of CHF 90.9 million.

Despite negative EBIT of CHF -112.2 million, a successful cost optimization program exceeded expectations with savings reaching CHF 25 million. This initiative was part of u-blox's strategy to focus on its Locate business, phasing out its Cellular operations due to dynamic growth and higher margins in the former.

The company's decision to concentrate on its Locate business aligns with innovation priorities in the GNSS semiconductor market, targeting sectors like autonomous vehicles and industrial IoT. Moving forward, u-blox anticipates gradual market recovery in 2025, with expectations of sequential improvements and double-digit revenue growth in its Locate business.