u-blox Holding AG (UBLXF) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Hublox Q1 2024 Trading Update Conference Call-in Live Webcast. I am George, the course call operator. I would like to remind you that all participants will be listened only mode and the conference has been recorded. The presentation will be followed by a Q&A session. You can translate for questions at any time by pressing star and one on your telephone. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Rafael Duarte, Head of Investment Relations at Ublox. Hi, everybody. I'm Rafael Duarte, head of IR at Hublox, here together with our CEO, Stefan Tisala, and our CFO, Roland Hult. I'm sure you have all seen our Q1 trading update. So the idea for this Q&A session is to give you the chance to address any potential questions on the results. So we'll have no slides. It was a brief announcement. It's really just the Q&A session. As always, in order to make a question, please follow the instructions in the webcast platform. And with that, operator, if you already have a question on the queue, we can get started. Operator? Our first question comes from Harry Blacklock with UBS. Please go ahead. Hi there. Good afternoon. Thanks for taking my question. The first is just on Q2. Really, I think people will be surprised at how weak the guidance is for Q2 on top line. And it seems to be kind of significantly weaker than most are expecting for some of your auto and industrial exposed peers. So I was just wondering whether you could give some color around what exactly it is that's driving that weakness. Is it just that the inventory digestion is taking longer than expected or is there kind of anything else that you would call out? Tha...