u-blox Holding AG (UBLXF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the uBlocks Half Year 2024 Update Conference Call and Live Webcast. I am Maria, the course call operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and 0. 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 Investor Relations at Ublox. Please go ahead, sir. Hi, everyone. I'm Rafael Duarte, Head of IR at Ublox. Here together with our CEO, Stefan Cisala, and our recently joined CFO, Camila Japur. Happy to have you on board, Camila. Thank you. Our agenda for today, we will present the main aspects of the results, provide you an outlook to the business, and close it with a Q&A session. As always, in order to make a question, please follow the instructions in the webcast platform. Stefan, I hand over to you. Welcome, everybody. And thank you, Raphael. Welcome from our headquarters at Lake Zurich in Switzerland. Let's move directly to page 5 for the highlights of the period. We reported half-year results, which came in at the higher end of our guidance. It turns out that we were right in our predictions last year during the capital market day in November. we reached the lowest point of the cycle in the first quarter and saw a slight improvement in the second quarter. EBIT was quite negative as a consequence of lower revenue. Our cost optimization program started at the beginning of the year and already generated 5 million Swiss francs in savings. Despite the negative EBIT, we managed to maintain a resilient, p...