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
Europe Stories
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
09/10/2026
September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026
New Sports Intelligence helps providers better unders...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
12/09/2026
Latest Obsolete Devices pedal announced
Great Eastern FX Co. have just launched the latest pedal in their Obsolete Devices series, a range of effects pedals...
12/09/2026
September 11, 2026
BUDAPEST & SEATTLE, 10 September 2026 - Qumulo and Colorfron...
12/09/2026
Calrec expands its IP ecosystem with new Type RT console and Apex M6 Modular I/O Platform at IBC 2026 Type RT is the centrepiece of Calrec's news at IBC 202...
11/09/2026
Spark series gains compact modelling stompbox
Positive Grid's Spark amps have become a popular part of the company's line-up, offering a convenient ...
11/09/2026
New flagship sequencing plug-in revealed
Rapid Flow have just launched a new 16-track sequencer plug-in which they say has been designed for total rhythmic...
11/09/2026
Rohde & Schwarz unveils the air-cooled R&S TM1 medium-power UHF transmitter at I...
11/09/2026
Friday 11 September 2026
Sky Sports extends US Open deal to 2030
Sky has agreed a three-year extension to its US Open deal, ensuring Sky Sports & NOW remains ...
11/09/2026
Wuppertal September 11, 2026
A Decade of Innovation: AMP VISUAL TV Builds on Ten Years of MediorNet EvolutionAMP VISUAL TV is continuing the evolution of its ...
11/09/2026
Wuppertal September 11, 2026
Mediacom Deploys Riedel Easy5G for Wireless Camer...
11/09/2026
Wuppertal September 11, 2026
Touring Video Expands Flexible Production Workflows With Riedel MediorNet and hiRiedel Communications today announced that Tourin...
11/09/2026
Wuppertal September 11, 2026
Riedel Technology Powers Record-Breaking Esports World Cup Production in ParisFrom July 6 to Aug. 23, 2026, Paris hosted the Espo...
11/09/2026
Article courtesy of Digital Production
Read the article
With Baselight 8 coming in 2027, the interesting part is not the number of new buttons. Some features...
11/09/2026
It's almost iPhone Pro time. Starting Saturday, September 12, at 1 p.m, cust...
11/09/2026
RT has today announced Benetti Menswear as the sponsor of its 2026 Amgen Irish Open coverage for a sixth consecutive year, further strengthening the heritage c...
10/09/2026
Editing, restoration & mastering suite upgraded Acon Digital Acoustica 8 audio editing restoration mastering software.
Acon Digital have just launched the la...
10/09/2026
Classic synths & drum machines available to play
Based in Reading, UK, Readipop are a music and arts charity with a long track record of innovative, partici...
10/09/2026
Popular model updated & new addition introduced
With many of the models in Neumann's KH family now boasting onboard DSP and support for the company'...
10/09/2026
Improved desktop interface announced
The latest iteration of Arturia's flagship desktop audio interface has just arrived, introducing improved preamps, ...
10/09/2026
Progress needs proof: Rohde & Schwarz showcases its trailblazing test solutions ...
10/09/2026
CUPERTINO, CALIFORNIA Apple today announced iPhone 18 Pro and iPhone 18 Pro Max,...
10/09/2026
CUPERTINO, CALIFORNIA Apple today introduced Apple Watch Ultra 4 - the ultimate ...
10/09/2026
CUPERTINO, CALIFORNIA Apple today introduced Apple Watch Series 12, engineered w...
10/09/2026
The beloved duo are back with big challenges and even bigger laughs as they discover if you're ever truly too old to try something new.
Previous praise for...
10/09/2026
Thursday 10 September 2026
Sky News Defence Insider app launches as new researc...
10/09/2026
Thursday 10 September 2026
Award-winning network Sky Mobile to offer Apple iPho...
10/09/2026
Thursday 10 September 2026
Sky unveils gripping teaser for The Good Daughter, coming this NovemberTurn on cookies to view this content. Go to Privacy options a...
10/09/2026
Harmonic Leads the New Era of Broadband Connectivity at SCTE TechExpo 2026 Showcase Spotlights Include:
New cOS SensAI intelligence fabric unleashing data-pow...
10/09/2026
RT to Broadcast Amgen Irish Open free-to-air
New multi-year agreement will see RT continue to bring the Amgen Irish Open to Irish audiences
Ryder Cup hig...
10/09/2026
More than 30 women report allegations of sexual harassment, misogyny and bullying within National Ambulance Service
Tonight on RT Prime Time, 9:35pm, RT One ...
10/09/2026
Series 3 of Nero's Class begins Friday 11 September on RT Listen
The third...
09/09/2026
New parts aimed at hip-hop and pop productions
The latest update to Celemony's innovative virtual session musician expands the collection of built-in in...
09/09/2026
Save up to 40% until 21 September 2026
Sonarworks are currently running their Autumn Sale, with discounts of up to 40% currently available across their rang...
09/09/2026
Upcoming title officially launches in September 2026
Bjooks' celebrations for this year's 909 Day will be welcome news amongst drum machine lovers, ...
09/09/2026
** MEDIA ALERT **
NARUTO Takes the Stage at New York Comic Con 2026 Special Panel to Feature Franchise News, First-look Footage and Appearances by Japanese ...
09/09/2026
CUPERTINO, CALIFORNIA Apple today introduced iPhone Duo, the first foldable iPhone. Opened, it is the thinnest iPhone ever, with a 7.6-inch inner display that p...
09/09/2026
CUPERTINO, CALIFORNIA Apple today announced AirPods 5, delivering the industry&#...
09/09/2026
Chennai/Luxembourg, 9 September 2026 - SES, a leading space solutions company, today announced the inauguration of its new office in Chennai, India, marking a s...
09/09/2026
September 9 2026, 22:35 (PDT) Cinema Sunshine Becomes Japan's First Exhibit...
09/09/2026
Wednesday 9 September 2026
Tom Daley adds final stitch to giant Baa-Ewe' t...
09/09/2026
Red Seat Ventures Integrates Barometer into Speakeasy to Maximize Podcast Revenu...
09/09/2026
Baselight-powered color comes natively to Media Composer, connecting creative de...
09/09/2026
RT brings three packed days of live radio, entertainment, news, weather and fun
Join RT Radio 1: Morning Ireland, Oliver Callan, Today with David McCullagh,...
08/09/2026
Built for rap producers, by rap producers
Sauceware Audio, the independent plug-in company founded by Grammy-nominated producer Jacob (Travis Scott, 21 Sava...
08/09/2026
Classic Sound Techniques design revived
Warm Audio's latest release delivers a meticulous recreation of the preamp circuitry employed by the Sound Techn...
08/09/2026
Latest soft synth inspired by the Memorymoog
XILS Lab have just launched a software instrument that draws its inspiration from Moog's iconic Memorymoog,...
08/09/2026
September 08, 2026 NORTHRIDGE, Calif. - Soundcraft today announced the launch of its Signature Plus Series Analog Connected Mixing Consoles. As the next genera...
HIGHLIGHTS:
