
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
Most recent headlines
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
03/07/2025
For our Vario-Jib, as well as for a repertoire of weights, we now have carts that make transport easier...
03/07/2025
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
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
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
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
To achieve a true level of decisive overmatch, communication systems must be as ...
03/07/2025
The Broadcasters Foundation of America has named Ray Hopkins, president of U.S. distribution at Paramount Global, to its board of directors....
03/07/2025
SIOUX FALLS, S.D. In his first major policy speech, Federal Communications Commissions Chair Brendan Carr outlined his Build America Agenda for the agency'...
03/07/2025
As the industry is making a major push to transition to NextGen TV broadcasting and develop new businesses that will fund the next generation of broadcasting, T...
03/07/2025
Despite enabling its subscribers to watch films and TV shows in the highest possible resolution, Netflix has revealed it is taking things old school with the in...
03/07/2025
WASHINGTON In response to news that Paramount Global has agreed to pay $16 million to settle a lawsuit by President Donald Trump, Democrats and other administra...
03/07/2025
WUPPERTAL, Germany Riedel Communications today launched RefSuite for professional sports workflows....
03/07/2025
WEITERSTADT, Germany LYNX Technik, a provider of modular signal processing solutions, has announced that founder and longtime CEO Winfried Deckelmann is steppin...
03/07/2025
WASHINGTON Representatives from six trade groups representing tech, pay TV, broadband, LPTV and other sectors recently met with Federal Communications Commissio...
03/07/2025
PLYMOUTH, Wis. Dan Whealy has acquired Heartland Video Systems and will be its new owner and president, the systems integrator said....
03/07/2025
Acclaimed filmmaker, educator, and industry veteran Jay Holben has released his most ambitious work to date: The Director's Guide to Everything a sweeping...
03/07/2025
For Los Angeles-based photographer Scout Pruski, documenting the annual Dyke Day LA is a way to honor and give back to the city's legacy queer community and...
03/07/2025
Modular, Travel-Ready Solution Matthews Studio Equipment launches the new Chimera V-Flat Panel Frame Kit, the lightweight and modular, ultra-durable alternativ...
03/07/2025
Dalet, a leading technology and service provider for media-rich organizations, today announced the release of Dalet Flex 2025.6 LTS (long-term support), introdu...
03/07/2025
Lightware's LARA Wizard makes it quicker and easier than ever to set up audio-visual (AV) room automation and control configurations, ensuring anyone, from ...
03/07/2025
Alfalite, the only European manufacturer of LED screens, has obtained both the NCAGE Code (NATO Commercial and Government Entity) and TAA (Trade Agreements Act)...
03/07/2025
nxtedition is implementing a new solution for WIN Network, based in its headquarters in Wollongong, New South Wales, Australia. The nxtedition integrated platfo...
03/07/2025
ORS Group and Insys Video Technologies today announce the launch of a new joint brand identity: Big Blue Marble. The move reflects the evolution of a long-stand...
03/07/2025
Evergent, a global leader in customer lifecycle management and monetization solutions for subscription-based businesses, today announced the successful results ...
03/07/2025
LYNX Technik, provider of modular signal processing solutions today announces an executive leadership transition, effective July 1, 2025. Markus Motzko has been...
03/07/2025
Chaos Releases V-Ray for Blender
Brie Clayton July 2, 2025
0 Comments
Production-Proven Renderer V-Ray Arrives Natively in Blender for the First Time;...
03/07/2025
Calvin University Adds Blackmagic Replay to Broadcasts and Streams
Brie Clayton July 2, 2025
0 Comments
Replay workflow joins 14 Blackmagic Design cam...
03/07/2025
Berklee's Gospel Performance Program Welcomes Jonathan Nelson as the Herb Al...
03/07/2025
In today's fragmented media landscape, advertisers expect more than just reach - they want seamless cross-platform campaigns that deliver measurable results...
03/07/2025
** MEDIA ALERT ** Shonen Jump Store Hosting Los Angeles Pop-up During Anime Exp...
03/07/2025
Thursday 3 July 2025
David Harewood and Matthew Broome in Mozart: Genius for Hi...
03/07/2025
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...
03/07/2025
The forecast this month is showing a 100% chance of epic gaming. Catch the scorching lineup of 20 titles coming to the cloud, which gamers can play whether indo...
02/07/2025
Hege Wik and Odin appear in FOLKTALES by Heidi Ewing and Rachel Grady, an official selection of the 2025 Sundance Film Festival. Courtesy of Sundance Institut...
02/07/2025
(Stephen Lovekin/Shutterstock for Sundance Film Festival)
By Patty Consolazio
This one's for any person who's ever felt put down, left out, marginaliz...
02/07/2025
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
NEW YORK Paramount Global has agreed to pay $16 million to settle a lawsuit by President Donald Trump, ending a long-running legal saga that could clear the way...
02/07/2025
WASHINGTON The Federal Communications Commission has approved the transfer of licenses for five TV stations from Sinclair to Rincon Broadcasting, which announce...
02/07/2025
As the media industry faces an uncertain business climate and rapidly changing consumer habits, TV Tech's most popular stories from the first six months of ...
02/07/2025
PORTSMOUTH, N.H. New data shows that U.S. homes now own an average of two smart TVs, with Samsung and LG dominating the market but Roku and FireTV continue to g...
02/07/2025
LOS ANGELES Funds managed by Oaktree Capital Management have acquired FilmRise, an independent digital streaming content distributor, and merged it with Shout! ...
02/07/2025
WASHINGTON The Advanced Television Systems Committee named Luiz Fausto vice president of standards development, succeeding ATSC vice president Jerry Whitaker, w...
02/07/2025
Boston Conservatory and the Sphinx Organization Join Forces to Make Classical Ed...
02/07/2025
NEW AMSTERDAM CREATOR DAVID SCHULNER JOINS CREATIVE TEAM OF NEW FOX DRAMA SERIE...
02/07/2025
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
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
Progressive realism: Aurora on taking up the broadcast reins for World RX alongs...
02/07/2025
Great speed: New host broadcaster Aurora on getting the World RX 2025 season pro...