Ad hoc announcement pursuant to Art. 53 LR
Highlights:
Strong first half, with total revenues and other operating income increasing by 6.4% to USD 340.5 million, EBITDA of USD 15 million, and three out of four segments back to growth
Renewed growth in Digital TV with strong profitability and successful launch of innovative solutions addressing new market segments
Cybersecurity's net revenues increased by 17.3% to USD 45.4 million and bookings increased by 25.8% to USD 94.2 million
Kudelski IoT revenues more than doubled to USD 2.6 million with successful launch of RecovR at large automotive dealerships in the U
Public Access profitability recovered due to proactive cost measures; sales recoveries in Europe and Australia
Although the COVID-19 pandemic continued to affect demand for the Group's offerings and disrupted industry supply chains, the Group successfully adapted its structure and operations to mitigate impact
Confirming outlook for full year 2021 with revenue growth and EBITDA between USD 65 and 80 million
KEY FIGURES HALF YEAR 2021
(in million USD) 1H2021 1H2020
Revenues & Other Operating Income 340.5 320.1
EBITDA 15.0 4.9
Net Income -3.1 -27.1
Cheseaux-sur-Lausanne, Switzerland and Phoenix (AZ), USA - August 26th, 2021 - The Kudelski Group (SIX: KUD.S), a leading provider of media content protection and value-added service technology, announced today its 2021 half year results.
In the first half 2021, total revenues and other operating income increased from USD 320.1 million to USD 340.5 million. Net revenues for the Group grew by 6.2% to USD 335.7 million, reflecting positive developments in Digital TV, Cybersecurity and IoT.
In this first half, the Group generated USD 15.0 million of EBITDA, a USD 10.1 million improvement over the previous first half. Digital TV delivered a strong semester, increasing net revenues by 7.6% and EBITDA by 15.5% from the previous first half. The segment continued to benefit from efforts made to streamline operations, further reducing operating expenses by USD 3.3 million compared to the prior first half. Overall, Digital TV improved EBITDA by USD 5.7 million to USD 42.6 million.
In the first half 2021, the Group's cybersecurity business generated gross revenues of USD 71.0 million. Net revenues were at USD 45.4 million, representing a growth of 17.3% compared to first half 2020. The segment posted a USD 9.5 million operating loss before depreciation and amortization, improving by USD 2.0 million compared to the prior year period.
The Group's IoT segment posted revenues of USD 2.6 million for the first half 2021, representing growth by a factor of 2.5 compared to the prior first half.
COVID-19 continues to affect Public Access results. Overall, the segment generated a positive EBITDA of USD 0.7 million, representing a USD 5.1 million improvement compared to last year's period.
During the first half 2021, the Group generated USD 30.5 million cash flow from operating activities and repaid USD 27.1 million of debt. In this period, the Group repurchased a nominal amount of USD 9.1 million of its 2022 bond and USD 2.0 million of its 2024 bond.
IMPACT OF COVID-19 ON THE GROUP'S FIRST HALF RESULTS
Digital TV began to show signs of recovery in the second half of 2020 and continued its positive development in the first half 2021, benefitting from a robust recurring business and from growing revenue contribution of new business lines. On the other hand, COVID-19 is still affecting demand in emerging markets, and the Group is also experiencing delays on some projects due to suppliers' inability to deliver required equipment. Overall, the Group continues to adjust its capacity in line with demand.
In Cybersecurity, initial signs of improvement in demand were seen in the second half 2020. This normalization accelerated in the first half 2021, resulting in solid growth rates both in Europe and in the US.
In the IoT business, semiconductor shortages are delaying the delivery of key electronic components for RecovR, the segment's new asset tracking solution. The Group issued early orders to obtain the necessary components and engaged alterative suppliers to avoid critical bottlenecks. However, as the global semiconductor industry still suffers from supply constraints, the Group may not be able to fully deliver the volume of RecovR devices forecasted in the second half 2021.
In Public Access, after a partial recovery in the second half of last year, demand in Europe and Australia continued to recover in the first half 2021 while remaining subdued in North America.
DIGITAL TV: FOCUSED INITIATIVES DRIVING NEW TRACTION AND STRENGTHENED RELATIONSHIPS WITH MAJOR OPERATORS
Digital TV delivered a strong first half in spite of COVID-19-related market turbulence. Focused product initiatives saw strong activity during the first half:
Launched in 2020, NAGRA's sport-as-a-service offering, including an app and video streaming solution, the Sporfie video clipping technology and a loyalty program based on SKIDATA technology, continues to gain traction among sports organizations. Following successful launches with FIH (field hockey) and PMH (motor racing) in 2020, NAGRA continued to extend its footprint, adding a further significant sport in the first half of 2021.
NAGRA's anti-piracy offering expanded further to address new market needs, recently adding new blocking services and OTT security audits, and extended its market reach, establishing resell partners in several countries and engaging with online video platforms.
The Group's partnerships with the largest pay-TV operators worldwide continued to expand:
As part of its long-term agreement with NAGRA, Vodafone Group continued to enlarge the footprint of Vodafone TV in Germany during the first half of 2021. Vodafone TV is now ac
Most recent headlines
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
28/11/2025
Nadia Fall attends the 2025 Sundance Film Festival premiere of Brides at the Egyptian Theatre on January 24, 2025, in Park City, Utah. (Photo by Donyale West/...
28/11/2025
It's easy to ignore those little red update available badges. But when it ...
28/11/2025
WASHINGTON Federal Communications Commission has released a tentative agenda for the December Open Commission Meeting scheduled for Thursday, December 18, 2025 ...
28/11/2025
The Professional Fighters League is looking to super-serve fans of mixed martial...
28/11/2025
Fubo has released in beta on select Roku devices a new feature that lets users display up to four simultaneous streams at once....
28/11/2025
The WNBA playoffs and Week 4 of the NFL regular season highlight the list of live sports events airing on television this weekend....
28/11/2025
The 32nd class of honorees to the B+C Hall of Fame took to the stage at New York's Ziegfeld Ballroom on September 26 for a gala induction event. Click below...
28/11/2025
We hold in our hands the very last Next Text for Next TV, the weekly back-and-fo...
28/11/2025
DirecTV said it made a deal with EchoStar to buy EchoStar's video businesses, including satellite-TV provider Dish TV and virtual MVPD Sling TV, for $1 plus...
28/11/2025
The Broadcasting+Cable Hall of Fame, the premier industry event paying tribute to the influencers, innovators and shining lights of broadcast, cable and streami...
28/11/2025
Friday 28 November 2025
Sky Sports x Slawn drop limited-edition football jersey...
28/11/2025
Rohde & Schwarz shows resilience in a challenging environment, revenue exceeds t...
28/11/2025
Unwrapped: The Toy Show Appeal - airing this Sunday on RT One and RT Player- s...
27/11/2025
LONDON Vizrt has added several AI-driven advanced features offering improved speed, intelligence and accuracy in the newest version of its media asset managemen...
27/11/2025
Prime Video has launched AI-powered video season recaps in a beta version for select English-language Prime Original series in the U.S., a move Amazon is callin...
27/11/2025
Back to All News
Netflix's Raat Akeli Hai: The Bansal Murders Marks a Grand...
27/11/2025
27 Nov 2025
GSMA brings M360 Eurasia 2026 to Samarkand in partnership with VEON...
27/11/2025
Tahar Rahim and Izuka Hoyle star in the gripping six-part Sky Original from Acad...
27/11/2025
Thursday 27 November 2025
Sky Arts Reveals the Nation's Greatest Basslines - and Queen Reign Supreme
The UK's most iconic basslines have been revealed...
27/11/2025
Back to All News
Stranger Things 5': Prepare for One Last Adventure With O...
27/11/2025
The media industry has a paradox at its core. It's an industry built on light, color and imagination, yet behind the scenes, it's powered by one of the ...
27/11/2025
Rating reflects rating progress across areas including policies, diversity & inclusion, health & safety and Net Zero leadership
Winchester, UK, 27 November 202...
27/11/2025
What are the industry standards for Retail Media? Kathryn explains that certification is based on the IAB Europe Retail Media Measurement Standards and the IAB ...
27/11/2025
World champion boxer and Irish sporting icon Katie Taylor will be in studio this...
27/11/2025
Roblox, one of the world's most popular online gaming platforms for primary ...
27/11/2025
Black Friday is leveling up. Get ready to score one of the biggest deals of the season - 50% off the first three months of a new GeForce NOW Ultimate membership...
26/11/2025
SVG Sit-Down: Prime Video EP Mike Muriano Previews Massive Black Friday Slate Fe...
26/11/2025
A cinematic snow sculpture at the 1995 Sundance Film Festival. Photo by Randall Michelson...
26/11/2025
Book podcasts are booming. On Spotify, you'll find everything from celebrity book clubs to deep dives with bestselling authors. And in markets where audiobo...
26/11/2025
Mumbai, November 24, 2025: In a first-of-its-kind initiative, JioStar, in collab...
26/11/2025
LONDON Factual content producer ITN Productions has launched a new low-latency IP gallery for news bulletins....
26/11/2025
MIAMI TelevisaUnivision said it struck a new multiyear distribution agreement with YouTube TV that includes distribution of TelevisaUnivision's U.S. network...
26/11/2025
OpenDrives, Inc., a leader in software-defined data storage and data services, today announced the launch of the Atlas Corporate Creative Solution. This new Atl...
26/11/2025
Disguise, the industry-leading company powering the world's biggest live performances, is partnering with pioneering LED wall manufacturer DVS to give atten...
26/11/2025
HighField AI, the pioneer in agentic and multimodal automation for broadcast and media production, today announced the expansion of its global channel partner n...
26/11/2025
As high-stakes Premier League fixtures approach and additional premium content launches, with MONO positioning themselves to dominate Thailand's sports stre...
26/11/2025
Hosting a wide variety of events from high-intensity NHL games to complex live music concerts and major entertainment productions, Montreal's 21,000 capacit...
26/11/2025
Vizrt, the leader in live production technology revolutionizing viewer engagement and experience, releases AI-driven advances focusing on speed, intelligence, a...
26/11/2025
ITN Productions, an award-winning factual content producer, today launched a new low-latency IP gallery for news bulletins. Responsible for delivering a leading...
26/11/2025
Ikegami reports ongoing advances throughout 2025 in developing and delivering coordinated television production solutions that maximize quality, versatility and...
26/11/2025
Following the Nov. 21 blackout of NBCUniversal channels on Fubo, the two sides have traded barbs about their inability to reach a new carriage deal....
26/11/2025
LONDON As TV sports rights become increasingly important for both broadcasters and streamers, Ampere Analysis predicts global investment in the genre will surpa...
26/11/2025
LOS ANGELES Vubiquity said it has achieved the Amazon Web Services (AWS) Media & Entertainment Competency as part of the AWS Partner Network (APN). This designa...
26/11/2025
WASHINGTON The Federal Communications Commission's Enforcement Bureau said it has entered into a consent decree with Comcast calling for the cable company t...
26/11/2025
Berklee Named to the Hollywood Reporters Top Music Schools List The publication highlights the college's screen scoring program, industry partnerships, and ...
26/11/2025
Back to All News
Animated Series Love Through a Prism' Casts New Light on ...
26/11/2025
Back to All News
NALIP Unveils Fifth Cohort of Director Incubator
Social Impact
26 November 2025
United States
Link copied to clipboard
The National Assoc...
26/11/2025
YouView Achieves Greenly Gold Certification for SustainabilityNov 26, 2025
YouView is proud to announce a Gold Certification award from Greenly for our perform...
Ad hoc announcement pursuant to Art. 53 LR
