Nordic Semiconductor

Earnings Release • Feb 5, 2019

Nordic Semiconductor ASA's Fourth Quarter 2018 and Full Year 2018 Results

Nordic Semiconductor ASA's Fourth Quarter 2018 and Full Year 2018 Results

Nordic Semiconductor ASA, a global provider of low power wireless connectivity, today reported revenues for fourth quarter 2018 of USD 61.1 million and EBITDA of USD 2.1 million, compared to revenues for fourth quarter 2017 of USD 64.4 million and EBITDA of USD 4.0 million. Increase of 14.9% in revenues for full year 2018 of USD 271.1 million, compared to revenues for full year 2017 of USD 236.0 million.

Bluetooth revenues for fourth quarter 2018 of USD 40.1 million, compared to revenues for fourth quarter 2017 of USD 44.1 million. Increase of 23.3% in Bluetooth revenues for full year 2018 of USD 185.1 million, compared to Bluetooth revenues for full year 2017 of USD 150.1 million. Gross margin for fourth quarter 2018 of 51.0%, increase of 3.4 percentage points compared to gross margin for fourth quarter 2017 of 47.6%. This is mainly due to a favorable product mix.

“A turbulent macroeconomic picture at the end of 2018 resulted in a disappointing quarter. The high uncertainty continues into 2019 and hence our short-term outlook is impacted. We delivered annual revenue of USD 271 million and 23% growth in Bluetooth for the full year 2018. We also recognized revenue from the cellular IoT business for the first time, which marks the start of Nordic’s next growth phase. We are excited to see our product being designed into a broad range of customer applications,” says Svenn-Tore Larsen, CEO of Nordic Semiconductor ASA.

Nordic provides revenue guidance for first quarter 2019 of USD 50-55 million, with a gross margin of 50%. For the medium term, the company expects the Bluetooth sales to grow by 20% to 30%.

For more information, please see the attached fourth quarter 2018 report.

The management team, represented by CEO Svenn-Tore Larsen and CFO Pål Elstad will present the company’s results today at 08:00 a.m. CET at Thon Hotel Vika Atrium in Munkedamsveien 45, Oslo, Norway.

There will be a live webcast from the presentation which can be accessed from www.nordicsemi.com. The presentation will be held in English. A recorded version of the presentation will also be available after the broadcast has concluded.

For further information, please contact:

Svenn-Tore Larsen, CEO

Nordic Semiconductor ASA

Phone: +47 982 85 476

Pål Elstad, CFO

Nordic Semiconductor ASA

Phone: +47 991 66 293

Kine-Elena Reigstad, IR

Nordic Semiconductor ASA

Phone: +47 993 64 116

About Nordic Semiconductor

Nordic Semiconductor has been a pioneer in the field of ultra-low power wireless solutions since 2002 and was one of the founding members of the Nokia initiative which created the Bluetooth Low Energy standard. Today, Nordic Semiconductor is by far the market leader within the ultra-low power wireless segment. Nordic Semiconductor (NOD) is a public company listed on the Oslo stock exchange in Norway.

For more information go to www.nordicsemi.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)