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
18/12/2025
Long-term agreement includes the SES SCORE platform and hybrid distribution worldwide to deliver more than 5,000 hours of golf tournaments annually featuring th...
18/12/2025
At 7.45pm on 1st January 1926, the precursor to RT , then 2RN, delivered the fledgling new Irish state's first public radio transmission. From those first c...
18/12/2025
December 18 2025, 05:30 (PST) The Movie Experience SLO Becomes First U.S. Exhib...
17/12/2025
Investigative journalists across the Western Balkans and T rkiye continue to con...
17/12/2025
The right playlist is essential on New Year's Eve, building the energy as you get ready and keeping it high as you count down to midnight. This year, Spotif...
17/12/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
17/12/2025
December 17 2025, 17:00 (PST) Dolby and LG Unveil a New Era of Home Audio With ...
17/12/2025
Wednesday 17 December 2025
Heated Rivalry will be coming to Sky and streaming service NOW on 10 JanuaryTurn on cookies to view this content. Go to Privacy opti...
17/12/2025
RT has announced that Kathy Fox has been appointed Commissioning Editor with re...
17/12/2025
With the new season of Dancing with the Stars shimmering in the not-too-distant future this New Year, the celebrity and dancer pairings of the twelve couples ha...
16/12/2025
Hawkins has landed on Spotify, just in time for Stranger Things Season 5, Volume...
16/12/2025
Wherever you are, your favorite music and audio content should go seamlessly with you. That's why Spotify has partnered with NAVER Corp, Korea's leading...
16/12/2025
2025 Wrapped arrived bigger and bolder than ever. This year's experience is designed to be ultra personal and shareable, with new features like Wrapped Part...
16/12/2025
16 Dec 2025
VEON Announces Release Date for Full Year and Fourth Quarter 2025 R...
16/12/2025
16 Dec 2025
VEON's Kyivstar Invests in Renewable Energy in Ukraine with Acq...
16/12/2025
Harmonic's XOS Advanced Media Processor Improves Streaming Video Quality and Boosts Viewer Engagement SAN JOSE, Calif. - Dec. 16, 2025 - Harmonic (NASDAQ: ...
16/12/2025
RT Sport Awards 2025 live on RT One and RT Player at 8:05pm on Saturday 20 December.
On Saturday 20 December live on RT One and RT Player at the earlier t...
16/12/2025
Singer -songwriter Brian Kennedy has been announced as the final celebrity dance...
15/12/2025
Cape Town, November 13, 2025 - SES and International artist and humanitarian, Fo...
15/12/2025
Luxembourg, December 15, 2025 - SES, a leading space solutions company, and Abra Group launched fast and reliable multi-orbit inflight connectivity service on t...
15/12/2025
15 Dec 2025
VEON's Beeline Kazakhstan Delivers First Starlink Direct to Cel...
15/12/2025
Andrew Mountbatten-Windsor finds himself the topic of year's cracker jokes
Oasis, David Harbour, Celebrity Traitors and Angela Rayner all feature in this y...
15/12/2025
Comscore Expands Cross-Platform Campaign Measurement to Include Audio and Social New capabilities strengthen cross-platform campaign reporting suite; CCR rebran...
15/12/2025
RT .ie has reached one billion page views this year and is on track to finish 2025 2% ahead of last year. Average time spent on the site is up 3% on 2024, with ...
12/12/2025
Last month, Spotify announced a new collaboration with the ATP Tour, the global governing body of men's professional tennis, aimed at bringing the next gene...
12/12/2025
Friday 12 December 2025
Ted is back! Seth MacFarlane's live-action comedic ...
12/12/2025
Uachtar n na h ireann, Catherine Connolly visited RT Raidi na Gaeltachta's...
12/12/2025
Ireland AM host Eric Roberts has been revealed as the sixth contestant taking to...
11/12/2025
Thomson and the Center for News, Technology and Innovation (CNTI) convened a two-day workshop in Sarajevo bringing together more than 35 journalists, editors, p...
11/12/2025
Having the right song soundtrack your moves can make all the difference when gam...
11/12/2025
It's been a big year for Taylor Swift. Her highly anticipated album The Life...
11/12/2025
11 Dec 2025
VEON's Banglalink Receives Regulatory Approval to Launch Digita...
11/12/2025
Thursday 11 December 2025
Sky Arts paints a picture of Britain's beauty as ...
11/12/2025
It's not every day we're asked to create a website for a classical musician!
So, we were delighted to help pianist Georgina Duncan as she embarks on he...
11/12/2025
It's beginning to look a lot like Christmas!
Irish golfing hero Shane Lowry...
11/12/2025
RT Sport Awards 2025 live on RT One and RT Player at 8:05pm on Saturday 20 December
On Saturday 20 December live on RT One and RT Player at the earlier ti...
11/12/2025
Sash is ready to samba as Fair City star Stephanie Kelly is revealed as the late...
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
10/12/2025
For the first time, Spotify is giving users the power to steer the algorithm. Gustav S derstr m, Spotify's Co-President, CPO, and CTO, shares the vision beh...
10/12/2025
10 Dec 2025
VEON's Rising Capital Markets Profile Strengthened by Inclusion...
10/12/2025
10 Dec 2025
VEON Recognized for JazzCash, Kyivstar and Jazz at the World Commun...
10/12/2025
Wednesday 10 December 2025
Sky extends partnership with the Ladies European Tour for a landmark 30th year
Sky and the Ladies European Tour (LET) have announce...
10/12/2025
Wednesday 10 December 2025
Walk-on if you love the darts: James Maddison, Luke ...
10/12/2025
Rohde & Schwarz presents world's first RF power sensor with 0.80 mm RF conne...
10/12/2025
It's out of the frying pan and into the sequins for comedian and actor Micha...
10/12/2025
Born That Way airs Thursday 18 December on RT One and RT Player
Born That ...
09/12/2025
For decades, music videos have done more than just accompany a song; they've shaped style, started conversations, and helped us fall in love with our favori...
09/12/2025
Tuesday 9 December 2025
Judy Murray calls for PE to be a priority for all schoo...
09/12/2025
Kyocera and Rohde & Schwarz demonstrate OTA characterization of mmWave PAAM at C...
HIGHLIGHTS:
