Sony Pixel Power calrec Sony

2021 HALF YEAR RESULTS

26/08/2021

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
LINK: https://dtv.nagra.com/2021-half-year-results...
See more stories from nagra

More from Nagra Media Uk Ltd

27/03/2024

2023 Annual Report Publication

Ad hoc announcement pursuant to Art. 53 LR Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA, March 27 2024 - The Kudelski Group has published its 2023...

15/03/2024

Navigating the Future: Humanizing AI and Connecting Everything - Insights from MWC 2024

This year's annual telecoms jamboree in Barcelona attracted a record breakin...

22/02/2024

2023 ANNUAL RESULTS

Cheseaux-sur-Lausanne, Switzerland and Phoenix (AZ), USA - February 22nd, 2024 - The Kudelski Group (SIX: KUD.S), the world leader in digital security, announce...

06/02/2024

NAGRA SPORT AND THE EUROPEAN BROADCASTING UNION (EBU) PARTNER TO LAUNCH EUROVISION SPORT

Cheseaux-sur-Lausanne, Switzerland, and Grand-Saconnex, Switzerland - February 6...

19/01/2024

'ALL ON' IN LAS VEGAS: KICKING OFF 2024 AT CES

As new year celebrations faded, it was time to head for Las Vegas. Providing an interesting juxtaposition of tourists enjoying the delights of the strip, inter...

19/01/2024

FUTURE OF THE SMART HOME: WHY PRIVACY AND DATA SECURITY ARE KEY

The CONNECTIONS Summit is an annual event hosted by international research firm Parks Associates at CES in Las Vegas, focusing on new trends, emerging technolog...

07/01/2024

The Kudelski Group at CES 2024: Secure Your Lifestyle, Connect Your World

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - January 7, 2024 - At CES 2024, the Kudelski Group (SIX:KUD.S), the world leader in digital security,...

09/10/2023

APOS 2023: A Blueprint for APAC's Media & Entertainment Industry

This year's 2023 APOS conference did not disappoint! As the defining voice for the Asia Pacific Media, Telecom and Entertainment industry, it hit all the ex...

28/09/2023

Despite the Storm Clouds, IBC 2023 Had Energy, Direction and Pace

There seemed to be much trepidation ahead of this year's IBC. Would the Schiphol fiasco and train strike that blighted the escape from the RAI in 2022 be a...

20/09/2023

NAGRA Receives Industry Recognition for Content Protection Innovation at IBC 2023

Cheseaux-sur-Lausanne, Switzerland, and Phoenix USA - Sept. 20, 2023 - NAGRA, a ...

15/09/2023

NAGRA Launches Multi-DRM Service on AWS Marketplace

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - September 15, 2023 - NAGRA, a Kudelski Group (SIX:KUD.S) company and one of the worlds leading indep...

14/09/2023

Sony's Ci Media Cloud Enhances Service Offering with NAGRA, Securing Content Throughout Review and Collaboration Workflows

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - September 14, 2023 -...

14/09/2023

Dubbing Brothers Secure New Post-Production Distribution Service with NAGRA

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - September 14, 2023 - NAGRA, a Kudelski Group (SIX:KUD.S) company and the worlds leading independent ...

13/09/2023

4iG secures NAGRA to launch new multi-network, super-aggregated entertainment service to rapidly transform Hungarian market

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - Sept. 13, 2023 - NAG...

12/09/2023

NAGRA Enhances Content Protection for Adobe's Frame.io

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - September 12, 2023 - NAGRA, a Kudelski Group (SIX:KUD.S) company and the worlds leading independent ...

08/09/2023

Chaos on the Court: Navigating Disruption in the Media and Entertainment Industry

The media industry, often regarded as one of the most dynamic and innovative sec...

29/08/2023

NAGRA and 2G Digital Post Enable Secure Auto AI-based Content Fulfilment and Localization Service for Content Owners

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - August 29, 2023 - NA...

26/08/2023

The Enemy Within - The Impact of CDN Piracy

Recently, when watching a linear commercial channel in the UK, an advert implored me to look at the latest offering from a leading multi-service provider. Toda...

25/08/2023

La nueva Economa de la Televisin de Pago: Una industria en cambio y la necesidad de desbloquear nuevo capital

A medida que las Telcos de todo el mundo atraviesan diferentes fases de transfor...

24/08/2023

2023 HALF YEAR RESULTS

Ad hoc announcement pursuant to Art. 53 LR Highlights: Total Group revenues and OOI increased to USD 339.9 million, from USD 333.4 million in the first half 2...

24/08/2023

Finacity Facilitates USD 50 million Receivables Securitization for Kudelski S.A.

Ad hoc announcement pursuant to Art. 53 LR Cheseaux-sur-Lausanne, Switzerland, Phoenix (AZ), USA, and Stamford (CT), USA- August 24, 2023 - Finacity Corporatio...

22/08/2023

NAGRA Leads Industry to Navigate the Disruption' at IBC 2023

Cheseaux-sur-Lausanne, Switzerland and Phoenix, (AZ), USA - August 22, 2023 - NAGRA, a Kudelski Group (SIX:KUD.S) company and the worlds leading independent pr...

08/08/2023

Protecting Content Across the Production and Post-Production Multiverse

Unbelievably, the summer vacation season is already nearing an end here in the United States. School is back in session already, which means early morning drop...

02/08/2023

Tiv Srl Extends Service Lineup to Bring Customers NAGRA Secured DAZN Sports Content

Cheseaux-sur-Lausanne, Switzerland and Phoenix, (AZ), USA - August 2, 2023 - NAG...

20/07/2023

AI: The Next Big M&E Creative Adventure Or A Fast-Approaching Security Headache?

Summer evenings in London are rarely without some form of red carpet event that draws both the crowds and the press - such as the recent premiere of Oppenheimer...

18/07/2023

Telefonica Global Accelerates Fight Against Piracy to Protect Content Investments

Cheseaux-sur-Lausanne, Switzerland and Phoenix, (AZ), USA - July 18, 2023 - NAGR...

19/06/2023

Claro Colombia Leverages Direct-To-TV Solution to Expand Claro tv+ Service Reach and Lower Subscriber Acquisition Costs

Cheseaux-sur-Lausanne, Switzerland and Phoenix, (AZ), USA - June 19, 2023 - NAGR...

15/06/2023

New Economics of Pay-TV: An Industry In Change And the Need to Unlock New Capital

As Telcos worldwide go through different phases of digital transformation, one o...

15/06/2023

New Economics of Pay-TV: Why Fit-for-Purpose Security is Essential for Streaming Services.

When the first cardless solution was introduced to the market over a decade ago,...

14/06/2023

Dentro de la mente de un pirata - Parte 1: Por qu dedicarse a la piratera?

Hace poco me tom una cerveza en el Llandoger Trow de Bristol. Cuenta la leyenda que el pub fue la fuente de inspiraci n de Robert Louis Stevenson para crear al...

14/06/2023

Dentro de la mente de un pirata - Parte 2: Cmo funciona el ecosistema pirata

Si le ste la primera parte de esta serie de blogs, sabr que NAGRA entrevist recientemente a un pirata para conocer de primera mano las motivaciones, m todos y...

14/06/2023

Dentro de la mente de un pirata - Parte 3: Consejos para el sector de los M&E

Si ya has le do los otros dos blogs de esta serie, estar s totalmente al d a. Si no, puedes ponerte al d a sobre las motivaciones humanas de un pirata y una inm...

08/06/2023

ANGA COM: Full of bustle, pace and an industry intent on solving challenges

The one thing that is constant in this market is change. Literally nothing stands still which is why our space is an exciting one to be in right now. Recogniz...

06/06/2023

Kudelski Group Expands Quantum Security Solutions to Address Advanced and Evolving Threat Landscape

Cheseaux-sur-Lausanne, Switzerland and Phoenix (AZ), USA - June 6, 2023 - The Ku...

05/06/2023

Focus on Piracy: How Keeping Pirates at Bay Can Safeguard Growth

As my colleague Tim Pearson recently wrote in his blog series about Inside the Mind of a Pirate', high-traffic live events have always been a target for pi...

24/05/2023

Chopin Launches Advanced Streaming Service to Meet Consumer Demand and Increase Subscriber Base

Cheseaux-sur-Lausanne, Switzerland and Phoenix (AZ), USA - May 24, 2023 - NAGRA...

23/05/2023

Tele Columbus to Launch Next-Gen Hybrid Android TV Service

Cheseaux-sur-Lausanne, Switzerland, Phoenix (AZ), USA - May 23, 2023 - NAGRA, a Kudelski Group (SIX:KUD.S) company and the worlds leading independent provider o...

15/05/2023

FOCUS ON PIRACY: INSIDE THE MIND OF A PIRATE - PART 1: WHY GET INVOLVED IN PIRACY?

I recently had a pint at the Llandoger Trow in Bristol. Legend says that the pu...

15/05/2023

FOCUS ON PIRACY: INSIDE THE MIND OF A PIRATE - PART 2: HOW THE PIRATE ECOSYSTEM WORKS

If you've read the first part in this blog series, you'll be aware that ...

15/05/2023

FOCUS ON PIRACY: INSIDE THE MIND OF A PIRATE - PART 3: ADVICE FOR THE M&E INDUSTRY

If you've read the other two blogs in this series, you'll be fully up to...

15/05/2023

FOCUS ON PIRACY: INSIDE THE MIND OF A PIRATE - WHY GET INVOLVED IN PIRACY?

I recently had a pint at the Llandoger Trow in Bristol. Legend says that the pub provided Robert Louis Stevenson with the inspiration for the Admiral Benbow in...

15/05/2023

FOCUS ON PIRACY: INSIDE THE MIND OF A PIRATE - HOW THE PIRATE ECOSYSTEM WORKS

If you've read the first part in this blog series, you'll be aware that NAGRA recently interviewed a pirate to gain first-hand insight into the motivati...

15/05/2023

FOCUS ON PIRACY: INSIDE THE MIND OF A PIRATE - ADVICE FOR THE M&E INDUSTRY

If you've read the other two blogs in this series, you'll be fully up to speed. If not, you can catch up on the human motivations of a pirate and a dee...

20/04/2023

2023 ANNUAL GENERAL MEETING OF KUDELSKI SA

Cheseaux-sur-Lausanne, Switzerland - April 20, 2023 - The Annual General Meeting of Kudelski SA (SIX:KUD.S) was held today at the company's headquarters in ...

20/04/2023

Openview, South Africa's First Satellite Free-to-Air Service, Launches Ultraview, a Pay-TV Bouquet Leveraging NAGRA Security Solutions

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - April 20, 2023 - NAG...

17/04/2023

NAGRA Joins AWS ISV Accelerate Program

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - April 17, 2023 - NAGRA, a Kudelski Group(SIX:KUD.S) company and one of the world's leading indep...

12/04/2023

QTAKE Delivers Industry-First by Integrating Forensic Watermarking at Camera

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - April 12, 2023 - NAGRA, a Kudelski Group (SIX:KUD.S) company and the worlds leading independent prov...

11/04/2023

ZEE5 Optimizes Business Operations With NAGRA's Scalable Content Protection and Security Analytics

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - April 11, 2023 - NAG...