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
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
02/07/2026
Berklee Alum and Faculty Perform at Boston Public Library's 250th Anniversar...
02/07/2026
Broadcast Solutions GmbH, a leading systems integrator and provider of innovative solutions for the broadcast media industry, is acquiring BFE Studio und Medien...
02/07/2026
Cinegy GmbH, the premier provider of software-defined television technology, has extended the ingest facility at leading Brazilian sports company LiveMode, work...
02/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
02/07/2026
Standalone processors acknowledged for the innovation and value they bring to Pro AV
Cobalt Digital, a leading designer and manufacturer of signal processing ...
02/07/2026
Synamedia announced today the appointment of Dr Tzvi Gerstl as Chief Executive Officer. Paul Segre, who has served as CEO for the past six years, will transitio...
02/07/2026
Screen Australia backs audience-led filmmaking with new insight-driven initiativ...
02/07/2026
Screen Australia refines guidelines for Narrative Content Development and Docume...
02/07/2026
Maxon Autograph: Introduction to working with Tables
Simon Ubsdell July 1, 2026
0 Comments
An overview of Autograph's ridiculously powerful tables...
02/07/2026
Boston Conservatory's Soir e Breaks Records to Fund Student Scholarships The event achieved 127 percent of its fundraising goal in an evening celebrating ...
02/07/2026
How Adam Rosenwach Pivoted from Music to Med Tech Without Missing a Beat What do the rehearsal room and the boardroom have in common? More than you might thin...
02/07/2026
Summer is heating up - and GeForce NOW is taking players along for the ride.
Start the month with Monopoly: Star Wars Heroes vs. Villains, bringing a galaxy fa...
01/07/2026
Broadcast Management Group (BMG) has announced the appointment of Kathy Samuels ...
01/07/2026
Shade has announced Custom Objects and Automations, a platform expansion releasing June 29, 2026, that adds database and workflow automation capabilities direct...
01/07/2026
FOR-A America has announced the addition of Jaz Wray and Fernando Cruz to its U.S. sales team. Both report to Ernie Leon, Senior VP and Head of Sales and Strate...
01/07/2026
NBC Sports will air all 15 MLB games nationally on Sunday, July 5, across NBC, P...
01/07/2026
Clear-Com has announced a wireless communications upgrade for Jeopardy! and Wheel of Fortune, deploying FreeSpeak II and FreeSpeak Icon systems across both prod...
01/07/2026
England's performance team will use Sony's STATSports APEX GPS tracking system to monitor player physical data in real time during FIFA World Cup 2026 m...
01/07/2026
Adder Technology has announced the appointment of Neil Hillier as Chief Executive Officer, effective July 1, 2026. Hillier succeeds Adrian Dickens, who transiti...
01/07/2026
Bitcentral, Inc. has announced a strategic transaction creating two separate companies. The Production and Playout business will continue as Bitcentral, now own...
01/07/2026
DAZN has announced results from DAZN48, its creator initiative for the FIFA World Cup 2026. Launched in April 2026, the program received thousands of applicatio...
01/07/2026
Sarah Rose, VP, global services, Daktronics (NASDAQ: DAKT), will be inducted into the Information Display and Entertainment Association (IDEA) Hall of Fame at t...
01/07/2026
Gravity Media and the World Economic Forum's production team provided broadc...
01/07/2026
Insight Productions has announced the launch of Insight Storm, a 53-foot mobile broadcast unit built for esports production. The truck is built around a Ross Vi...
01/07/2026
ESPN has announced several content initiatives marking America's 250th anniversary, as part of The Walt Disney Company's Disney Celebrates America pro...
01/07/2026
Eleven production kits, REMI workflows, and cloud distribution bring 40 World Cu...
01/07/2026
The conference also discussed the opportunities offered an industry that is endu...
01/07/2026
The Mountain West Conference has announced the launch of MW , a direct-to-consumer streaming platform powered by Kiswe. The platform will carry live Mountain We...
01/07/2026
New AI Assistant, Multi-channel Audio, ARA2 improvements & more
Tracktion's DAW software has just received its latest major update, gaining a selection ...
01/07/2026
Stammering, stuttering, strangulated tones
The Crow Hill Company's latest creation promises to be the most original sound set they've produced to d...
01/07/2026
Exclusive run of limited-edition modelling pedals
Sweetwater and Andertons M...
01/07/2026
The National Film and Video Foundation (NFVF) is pleased to announce that the ca...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Manfrotto Introduces UNCOVER, the new premium camera bag collection for modern h...
01/07/2026
Blackmagic Design Powers Houston Tamil Sangam Literacy Competition
Brie Clayton July 1, 2026
0 Comments
Volunteers use ATEM Mini Pro, Blackmagic Desig...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
PlayBox Technology has published State of Broadcast Infrastructure 2026, an in-depth industry research report examining the technologies, operational challenges...
01/07/2026
LONDON, UK, 1 JULY Jigsaw24 has appointed Alan Henry as Head of Sales for Media and Entertainment, reinforcing its continued investment in helping broadcaster...
01/07/2026
Content Vault, the patent-pending secure content distribution platform protecting high-value media from disclosures, theft and unauthorised access, today announ...
01/07/2026
Bitcentral, Inc. a leading provider of enterprise software and digital media solutions for news, sports and entertainment broadcasters, as well as streaming pla...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
HIGHLIGHTS:
