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Explore our Annual Report

Annual Report 2020

With restless innovation

If anything, the pandemic has bolstered the case for connected technology, driving up adoption rates the world over, as people have sought out contactless experiences that do not leave them isolated: remote work, online medical consultations, virtual events, online shopping, micromobility, and the list goes on.

Annual report 2020

Financial highlights

Revenue in m CHF


EBITDA (adjusted) in m CHF


Operating profit (EBIT) (adjusted) in m CHF


Net profit before minorities in m CHF


Net profit before minorities (adjusted) in m CHF


Gross profit margin (adjusted) in %


Operating cash flow in m CHF


Free cash flow in m CHF (before aquisitions)


Equity ratio in %


Annual results 2020

Despite the vast and varied challenges that the global COVID-19 pandemic brought upon our business in 2020, we see ample ground for optimism going forward.

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Annual Results

Letter to
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2020 at a glance


We acquired Thingstream

We expanded our service offering in 2020 by acquiring Thingstream, thus fast-tracking our ability to provide our customers with a reliable, smart, and secure solution to connect sensor data to their cloud enterprise and transfer data across 600+ telecom carriers and 190 countries. The acquisition was a major stepping-stone towards our ‘Silicon-to-Cloud’ approach to combining our hardware with tailored connectivity and security solutions.


We launched our 10th generation of GNSS receivers

The brand-new u-blox M10 receiver platform can track four GNSS constellations at once, even in challenging environments. The platform also addresses specific applications inside the consumer wearables market where energy and footprint are paramount.


Our R5 chips and modules have been certified

We are now rolling out our R5 product lines across global markets after our R5 proprietary multi-band LTE-M/NB-IoT chipset became the first to be certified by the Global Certification Forum (GCF) in January 2020. It has also achieved MNO certifications and certifications by several North American Tier 1 operators.


Product success with 2019 Rigado acquisition

Acquired in 2019, Rigado’s Bluetooth modules business complemented our already extensive Short Range product portfolio, and the successful integration has resulted in more and more customers opting for a combination of technologies while opening up the consumer application, medical device and exercise equipment markets.


u-blox Sustainability Report

In 2020, we renewed the materiality analysis, which forms the basis of our Sustainability Strategy, established goals, and published our first Sustainability Report. As part of our continual improvement, we will be producing this each year to increase transparency, report on advancements and address areas for improvement relevant to our shareholders, customers, suppliers and the communities in which we operate.