Nine Months 2023 U Blox Holding AG Corporate Sales Call Transcript
-- welcome, everybody also from my side. We don't typically hold conference calls for result releases, but we thought it would be a good idea this time.
On slide 2, you see our usual disclaimer, which I'm not going to read aloud. But please take the time to read it by yourselves later. I hand over now to Stephan Zizala, our CEO and look forward to your questions at the end of this brief presentation.
Thank you. Ladies and gentlemen, good afternoon, good morning. As Rafael mentioned, we have prepared a brief presentation in-line with the content you already saw in today's press release.
Let's start on slide number 3. Revenues for the first nine months reached CHF436 million, down from CHF475 million one year earlier. In the third quarter, revenues were CHF104 million, down from CHF181 million in Q3 2022. The weaker Q3 was expected as I mentioned during our last conference call in August.
Mainly, the general overstocking at customers caused this decline in
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