Sony Pixel Power calrec Sony

ANNUAL RESULTS 2020

25/02/2021

HIGHLIGHTS:

USD 741.5 million of total revenues and other operating income, USD 64.3 million of EBITDA and USD 122.5 million of operating free cash flow

Successfully adapted structure and operations to effectively accommodate impact of COVID-19

Strong resilience of Digital TV produced a USD 5.9 million increase of EBITDA to USD 96.9 million

Positive momentum in cybersecurity increased gross margins by 22.6%, driven by 57.4% growth in European revenues

IoT portfolio expansion includes launch of RecovR, an advanced asset tracking solution for car dealerships

Better than expected resilience of Public Access business, with USD 8.5 million EBITDA improvement to USD 16.5 million in spite of COVID-related volatility

Strong synergies between business units enabling end-to-end digital security offering spanning content protection, IoT and cybersecurit

Outlook for 2021: revenue growth and EBITDA between USD 65 and 80 million

Proposing a cash distribution (dividend) of CHF 0.10 per bearer share



KEY FIGURES 2020

(In million USD) 2020 2019

Revenues & Other Operating Income 741.5 827.3

EBITDA 64.3 40.6

Operating free cash flow 122.5 19.5

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - February 25, 2021 - The Kudelski Group (SIX: KUD.S), the world leader in digital security, announced today its 2020 annual results.

In 2020, total revenues and other operating income decreased to USD 741.5 million from USD 827.3 million in 2019. After a weak first half, Group sales strongly recovered in the second half producing a marginal decline of USD 5.3 million from the second half 2019, with cybersecurity and IoT revenues improving and Digital TV materially stable. Compared to the first half 2020, second half 2020 total Group revenues increased by USD 101.3 million, driven by higher sales in all segments.

The Group generated EBITDA of USD 64.3 million, a 58.5% or USD 23.7 million improvement from the previous year. This improvement reflects a strong second half where the Group generated USD 59.4 million, a USD 34.3 million improvement compared to the second half 2019. Overall, the Group generated an operating income of USD 16.1 million, compared to a loss of USD 15.3 million in 2019.

The Group generated USD 122.5 million of operating free cash flow, an improvement of USD 103.0 million from 2019. Working capital improvements drove 2020 cash generation, contributing USD 92.4 million.

SUCCESSFULLY ADAPTED TO COVID-19 REALITY

With the onset of the pandemic, the Group implemented a set of measures aimed at temporarily reducing its cost base to mitigate the business impact of COVID-19.

While the first half was materially impacted by strains related to the pandemic, including reduced levels of demand in the Public Access and Digital TV segments of the business, the Group swiftly adapted its structure and operations to integrate learnings from the first COVID-19 wave and ensure full business continuity in spite of extended lockdowns. In addition, the Group adjusted its marketing and sales approach to increasingly leverage digital channels to accommodate the changing needs of customers.

As a result, the second half showed more resilience than anticipated across the Group's four business segments.

DIGITAL TV: STRENGTHENED RELATIONS WITH OPERATORS AND SUCCESSFUL SOLUTION PORTFOLIO

Digital TV delivered a strong 2020, with USD 345.4 million in net revenues and USD 96.9 million of EBITDA, a USD 5.9 million increase from 2019. Following a slow first half, second half segment revenues were in line with the second half 2019 and increased by USD 36.0 million from the first half 2020. In relative terms, EBITDA margin increased from 23.8% in 2019 to 28.1% in 2020.

Despite the macro-economic conditions created by the pandemic, the Group's partnerships with the largest pay-TV operators worldwide continued to expand.

Altice USA and NAGRA have continued to extend their partnership on antipiracy, leveraging NAGRA's antipiracy expertise based on Open-Source Intelligence (OSINT), field investigation and IoT forensic analysis. In addition, Altice USA has successfully deployed NAGRA PROTECT, the leading one-way broadcast content protection to secure and enable a new generation of HD-DTA (Digital Television Adapter). This converter box has complemented the already deployed Altice One platform to provide a consistent user experience among the different consumer devices in the home.

At Claro Colombia, NAGRA successfully launched a cardless-based system with the NAGRA PROTECT as an extension of the original NAGRA Conditional Access System. Originally planned for HFC networks, the solution is also available for IPTV usage and will provide secure and improved service for mass deployment on low-cost set-top boxes.

As part of the long-term agreement between NAGRA and Vodafone Group, the deployment of Vodafone TV has continued to grow during 2020, especially in Eastern Europe. This evolution reinforces NAGRA's strategy of offering a central Security Services Platform providing security services for both open devices and Vodafone TV set-top boxes with an increasingly larger service footprint.

NAGRA Insight is gathering momentum with several operators and gaining market distinction for innovation. Altice USA extended the reach of NAGRA Insight to include newly deployed devices such as AppleTV 4K. Claro Colombia successfully deployed Insight to measure the audience and to provide extended analytics to support Claro's business. NAGRA developed a new Insight module collecting and analyzing audience data from non-connected satellite set-top boxes for Canal . Industry recognitions for NAGRA Insight in 2020 include the Best Data & Analytics Innovation Award at the CSI Awards as well as the AI and Machine Learning Innovation of the Year Award at the VideoTech Innovat
LINK: https://dtv.nagra.com/annual-results-2020...
See more stories from nagra

Europe Stories

06/10/2025

France Tlvisions Wins Prestigious 2025 EBU Technology & Innovation Award in Groundbreaking Collaboration with Dalet

France T l visions, France's leading broadcaster, has received the 2025 EBU ...

04/09/2025

Monumental Sports & Entertainment and Dalet Win Prestigious 2025 NAB Show Project of the Year Award

Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...

07/08/2025

Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, Redefining In-Car Entertainment Experience

July 8 2025, 22:30 (PDT) Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, R...

15/07/2025

SES Successfully Prices 1 Billion Dual-Tranche Bond Offering with Strong 5.5x Oversubscription

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNIT...

15/07/2025

TV SIM builds for the future with high efficiency transmitter from Rohde & Schwarz

TV SIM builds for the future with high efficiency transmitter from Rohde & Schwa...

15/07/2025

Harmonic to Showcase Breakthrough Video Streaming and Broadcast Delivery Innovations at IBC2025

Harmonic's Hybrid, AI-Powered and Live Sports Streaming Innovations are Key ...

15/07/2025

The Next Level 4099 CORE+ Instrument Microphone

The well-known and well-loved 4099 has been completely revamped. It features amazing CORE+ technology, which eliminates distortion and extends dynamic range, a ...

15/07/2025

Comscore Partners with HyphaMetrics to Launch Advanced Person-Level Audience Measurement and CTV Program-Level Reporting

Comscore Partners with HyphaMetrics to Launch Advanced Person-Level Audience Mea...

15/07/2025

All Ireland Football semi-finals and Tailteann Cup Final draw large audiences to RT

Peak audiences of over half a million tune into both Kerry v Tyrone and Donegal ...

15/07/2025

PROTON Announces Production Facility Expansion Ahead of IBC2025

PROTON Announces Production Facility Expansion Ahead of IBC2025 posted: 15/07/2025 Proton Announces Production Facility Expansion Ahead of IBC2025 Alongs...

14/07/2025

RT Launches New Look Weather Forecasts

Enhancing Public Service Broadcasting with Innovation, Accuracy & Sustainability New regional detail and local towns featured...

11/07/2025

Superman' Filmmaker James Gunn Reveals the Playlists Inspired by Your Favorite Characters

If you've ever wondered what might be playing in Clark Kent's headphones...

11/07/2025

AI and Multimedia Authenticity Standards Collaboration

AI and Multimedia Authenticity Standards Collaboration launches two papers to guide the future of AI integration, today at the AI for Good Global Summit The...

10/07/2025

Taliban repression silences award-winning Afghan woman journalist

The current holder of the prestigious Thomson Foundation Young Journalist of the Year Award has been forced to stop reporting over fears for her safety in Afgha...

10/07/2025

A New Report Puts Aussie Artists in the Spotlight

Spotify is turning up the volume on Australian music with a multipronged initiative designed to highlight the dominance of Australian artists on the global stag...

10/07/2025

Spotify Toasts Oasis's Return With Exclusive Ways for Fans to Get Closer to the Music That Defined a Generation

This is not a drill: Oasis is back on the road-marking its first live performanc...

10/07/2025

Spotify and Youth Music Open Doors for Future Artists

The music industry depends on fresh ideas, bold voices, and emerging talent. Yet across the U.K., too many young musicians lack the space to develop their craft...

10/07/2025

VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing

10 Jul 2025 VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing Kyiv, New York, Dubai, and Philadelphia - July 10, 2025 - VEON Ltd. (Nasdaq:...

10/07/2025

From Treehouses to the Deep Sea: A First Look at Sky Kids New Adventures

Thursday 10 July 2025 The Very Small Creatures Jaime's Treetop Tales Emerald BooSnoo! Christmas Mashup Pip & Posy's Spooktacular Party The Very Sm...

10/07/2025

Millions of Sky customers set to enjoy even bigger rewards as Sky VIP loyalty programme gets a major upgrade

Thursday 10 July 2025 Brand new rewards are coming to Sky customers, with free ...

10/07/2025

Comscore Achieves Full JIC Certification for National TV Measurement Including Persons-Based Data

Comscore Achieves Full JIC Certification for National TV Measurement Including...

09/07/2025

Sky becomes UKs fastest major broadband provider with launch of new 5 Gbps Full Fibre speed and WiFi 7 hub

Wednesday 9 July 2025 Sky Broadband now has the UK's fastest broadband spee...

09/07/2025

2025-07-09

CUPERTINO, CALIFORNIA Apple today announced Jeff Williams will transition his role as chief operating officer later this month to Sabih Khan, Apple's senior...

08/07/2025

MediaSafe Africa: A New Digital Safety Resource for Journalists

In an era where digital threats to journalists are becoming increasingly aggressive and widespread, MediaSafe Africa launches as a vital online resource to help...

08/07/2025

Spotify's Our Game, Our Sound' Campaign Champions Community and Joy in Women's Football

This summer, as the energy builds for one of the biggest moments in women's ...

08/07/2025

Richard Watsham to depart UKTV following highly successful 14-year tenure

UKTV today announces that Richard Watsham, Chief Creative Officer at UKTV and Global Director of Acquisitions for BBC Studios/UKTV, has decided to step down fro...

08/07/2025

Harmonic Sets DOCSIS 4.0 Record with 14 Gbps Downstream Speed at CableLabs Interoperability Event

SAN JOSE, Calif. - July 8, 2025 - Harmonic (NASDAQ: HLIT) today announced a reco...

08/07/2025

Arvato Systems optimizes customer communication with AOK Niedersachsen

Arvato Systems Optimizes Customer Communication with AOK Niedersachsen New project in the statutory health insurance sector Arvato Systems and AOK Niedersach...

08/07/2025

2025-07-08

On August 7, Apple Arcade is adding four exclusive games to its diverse catalogue of more than 200 fun games for players to enjoy, all free from ads and in-app ...

07/07/2025

** MEDIA ALERT ** VIZ Media Ignites AX 2025 with Star-Studded Panels, Exclusive Reveals, and Immersive Experiences

** MEDIA ALERT ** VIZ Media Ignites AX 2025 with Star-Studded Panels, Exclus...

07/07/2025

2025-07-07

CULVER CITY, CALIFORNIA As Apple Music marks its 10th anniversary this year, Apple unveils its most ambitious creative project to date: a brand-new state-of-the...

07/07/2025

RT Announces Mark Bignell as new Commissioning Editor for Comedy

RT has announced that Mark Bignell has been appointed Commissioning Editor for Comedy following a public competition. This senior editorial position will drive...

04/07/2025

Spotify Partners With The Reading Agency to Bring the Summer Reading Challenge to Life Through Audio

The Summer Reading Challenge has inspired children across the U.K. to embrace a ...

04/07/2025

Official trailer revealed for new season of BAFTA-winning Sky Original comedy Mr Bigstuff, coming 24 July

Friday 4 July 2025 Watch the trailer here https://youtu.be/Od5WpvWmDr8 Further...

04/07/2025

Join RT Radio 1 for The Pitch, a new series exploring the heart of Ireland's GAA Clubs

The Pitch comes to RT Radio 1 airwaves this Sunday at 7pm. The Pitch is a brand...

03/07/2025

Introducing: New Carts

For our Vario-Jib, as well as for a repertoire of weights, we now have carts that make transport easier...

03/07/2025

Introducing: Slider Drive Unit

One of our latest innovations: Slider Drive Unit! Our Vario Slider not only comes with improvements and new features, but also with its own drive unit! Our i...

03/07/2025

Introducing: ARRI EVO 360

The 360 EVO lives up to its name: 360-degree rotation not only on the pan axis, but also on the roll axis, enables filmmakers to take their creative visions eve...

03/07/2025

Panther at BSC EXPO 2025

What a buzzing few days at BSCExpo in London! We were thrilled to connect with so many talented professionals from the world of cinematography. A huge thank ...

03/07/2025

"The whole rig had to be detachable mid-episode

ADOLESCENCE - Shot with Panther Tower"The whole rig had to be detachable mid-episode Netflix limited drama series Adolescence has been gaining attentio...

03/07/2025

** MEDIA ALERT ** Shonen Jump Store Hosting Los Angeles Pop-up During Anime Expo 2025

** MEDIA ALERT ** Shonen Jump Store Hosting Los Angeles Pop-up During Anime Exp...

03/07/2025

Sky Arts Unveils New Mozart Season, Celebrating the Legacy of Classicals Greatest Maestro

Thursday 3 July 2025 David Harewood and Matthew Broome in Mozart: Genius for Hi...

03/07/2025

Sky announces 2025 Sky WNT Fund Recipients

The Sky WNT Fund supports Womens National Team players with a 30,000 bursaryThursday 3 July 2025 Sky Ireland has announced the four recipients of the 2025 Sky...

02/07/2025

NAB 2025: Calrec expands ecosystem providing ultimate flexibility

Calrec expands ecosystem at NAB 2025 giving broadcasters access to dynamic workflows and ultimate flexibility Helping broadcasters meet the shifting needs of me...

02/07/2025

VEON Raises USD 200 Million in Private Bond Placement

02 Jul 2025 VEON Raises USD 200 Million in Private Bond Placement Dubai, July 1, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON ), announces ...

02/07/2025

Dom Chinea opens his Cornish Workshop for new series on U&YESTERDAY and U

Brand new factual series follows mechanic and self-taught engineer Dom Chinea as he makes the move of his life to the far west of Cornwall UKTV today announces...

02/07/2025

Rohde & Schwarz acquires ZES ZIMMER Electronic Systems GmbH and expands its T&M portfolio for power electronics

Rohde & Schwarz acquires ZES ZIMMER Electronic Systems GmbH and expands its T&M ...