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

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

01/06/2026

Dolby Sets the New Standard for Premium Entertainment at CES 2026

January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026 Throughout the week, Dolby brings to life the latest innovatio...

15/05/2026

Lightware Highlights Scalable USB-C and AV-over-IP Innova...

Lightware returns to InfoComm 2026 with a focused showcase of scalable USB-C connectivity, next-generation AV-over-IP solutions, and technologies that help over...

15/05/2026

IAB Releases Campaign Data Standards 1.0 for Public Comment

Share Copy link Facebook X Linkedin Bluesky Email...

15/05/2026

ARRI Expands Management Board

Share Copy link Facebook X Linkedin Bluesky Email...

15/05/2026

Gray Media Names Joanie Vasiliadis SVP of Transformation

Share Copy link Facebook X Linkedin Bluesky Email...

15/05/2026

Study: Data and Measurement Problems Reduce CTV Ad Budgets

Share Copy link Facebook X Linkedin Bluesky Email...

15/05/2026

Upfronts: WBD Expands Advanced Ad Capabilities and AI Ad Tech

Share Copy link Facebook X Linkedin Bluesky Email...

15/05/2026

VLAST Powers PLAVEs Asia Tour Encore with AJA Gear

Delivering a live, arena-scale production of a massively popular band is no small feat. Between expansive in-arena LED walls and a global live stream fed to onl...

15/05/2026

Sun Broadcast Futureproofs Dayalbaghs Multimedia Van with...

Connection is the heartbeat of any strong community, and with live streaming becoming more accessible in the modern era, it's much easier for faith-based or...

15/05/2026

Disguise and Creative Technology Power Eurovision for the...

Powered by GX 3 media servers, optimised IP-VFC workflows and on-site engineering expertise, the production delivers high-performance visuals for one of the wor...

14/05/2026

Sweetwater and Airstream Unveil Mobile Dolby Atmos Recording Studio

Sweetwater and Airstream have announced a custom-built Dolby Atmos mobile recording studio inside an Airstream trailer, set to tour music festivals, schools, tr...

14/05/2026

American Association of Professional Baseball Expands Broadcast Distribution for 2026 Season

The American Association of Professional Baseball (AAPB) has announced a new par...

14/05/2026

ESPN to Establish Week-Long Super Bowl LXI Broadcast Center on Santa Monica Beach

ESPN has announced plans to transform Santa Monica Beach into a broadcast hub du...

14/05/2026

Amagi Announces Major Upgrade to CLOUDPORT Cloud Broadcast Platform

Amagi has announced a significant update to Amagi CLOUDPORT, its cloud-based broadcast playout platform. The update includes 250-plus features shipped in FY25-2...

14/05/2026

Clear-Com to Showcase New Products and Platform Updates at InfoComm 2026

Clear-Com will exhibit at InfoComm 2026 (Booth N7005, June 17-19, Las Vegas Convention Center), introducing a new product that builds on Arcadia Central Station...

14/05/2026

Ikegami to Exhibit at BroadcastAsia 2026 with Two New Viewfinder Premieres

Ikegami will exhibit at BroadcastAsia 2026 (Stand 5D3-1, Singapore Expo, May 20-22), introducing two new viewfinders alongside its existing camera, control, and...

14/05/2026

dB Broadcast Delivers IP-Based OB Trucks for Cloudbass Featuring Grass Valley LDX 100 Cameras

Grass Valley has announced that dB Broadcast has delivered new IP-based outside ...

14/05/2026

NAGRAVISION and WPBSA Launch Play Snooker Digital Platform

NAGRAVISION, a Kudelski Group company, has announced a partnership with the World Professional Billiards and Snooker Association (WPBSA) to launch Play Snooker,...

14/05/2026

Belden To Acquire RUCKUS Networks for Approximately $1.85 Billion

Belden Inc. has announced a definitive agreement to acquire RUCKUS Networks from Vistance Networks for approximately $1.85 billion. The transaction has been app...

14/05/2026

NVIDIA Releases Content Localization Blueprint for AI-Assisted Dubbing and Speech Translation

NVIDIA has released the Content Localization Blueprint, a modular reference arch...

14/05/2026

Disney+ To Stream Banana Bowl Championship Live This October

Disney has announced that Disney will be the exclusive U.S. streaming home of the Banana Bowl, the Banana Ball league season championship, streaming live this ...

14/05/2026

Arkona and Manifold To Exhibit on Magna Systems Stand at BroadcastAsia 2026

Arkona technologies and technology partner manifold will demonstrate their production solutions on the Magna Systems and Engineering stand (Booth 5D1-1) at Broa...

14/05/2026

Haivision Webinar: New Broadcast Contribution Products Featuring Minor League Baseball Case Study

Haivision will host a webinar on Thursday, May 21 at 10 a.m. ET / 4 p.m. CET cov...

14/05/2026

The CW Network and ESPN Announce ACC Sublicense Agreement Through 2030-31 Season

The CW Network and ESPN have announced a sublicense broadcast agreement for The CW to televise ACC football and men's and women's college basketball gam...

14/05/2026

Detroit Pistons Ink Local Media Rights Deal With Scripps Sports

The agreement marks Scripps Sports' first NBA local rights deal...

14/05/2026

Report: Broadcasting Among Hardest-Hit Industries as AI Reshapes the Workforce

A new report from education-technology company Wiingy testing post-ChatGPT predictions against three years of real-world data has identified broadcasting as one...

14/05/2026

Madonna, Shakira, and BTS to Headline First-Ever FIFA World Cup Final Halftime Show

Global Citizen and FIFA have announced that Madonna, Shakira, and BTS will headl...

14/05/2026

Sundance Institute Names 2026 Episodic Lab Fellows

LOS ANGELES, CA, May 14, 2026 - The nonprofit Sundance Institute announced today the cohort selected for the 2026 Episodic Lab program, taking place at Dunaway ...

14/05/2026

Spotify Expands Music Access for Young Listeners, Extending Managed Accounts to Free Tier

At Spotify, we're focused on making every listening experience feel intentio...

14/05/2026

Spotify Brings Nashville's Songwriting Community Together for Mental Health Summit

Spotify recently welcomed songwriters, artists, executives, and music students t...

14/05/2026

Sonuscore update Lux Orchestral Strings

New articulations, ostinatos, Motion Scoring Articulation Sets & more Sonuscore's flagship cinematic string library has just been treated to a significa...

14/05/2026

Pr Recording & Residence

World-class studio opens on T rkiye's Aegean coast P r Recording & Residence have announced their official opening, introducing a new world-class reside...

14/05/2026

Nugen Audio update DialogCheck

Now supports channel layouts up to 9.1.6 Nugen Audio have just released an update for their AI-powered dialogue intelligibility and compliance tool. Set to ...

14/05/2026

UVI release Orchestral Suite 2

New recordings & one-key chord tool UVI have just announced the release of Orchestral Suite 2, a ground-up redesign of their all-in-one symphonic orchestra ...

14/05/2026

Rob Papen launch eXplorer 11

Two new arrivals & expanded factory content Rob Papen's all-encompassing plug-in and virtual instrument collection has just been treated to another upda...

14/05/2026

FSK Audio release QRonicle

Embed QR codes into DAW sessions FSK Audio's latest plug-in doesn't process audio, but serves as an organisational tool that allows QR codes to be e...

14/05/2026

SBS Board appoints Jane Palfreyman Managing Director

SBS Board appoints Jane Palfreyman Managing Director 13 May, 2026 Media releases The Special Broadcasting Service (SBS) Board of Directors is pleased to an...

14/05/2026

Transforming bold ideas into market-ready productions: Digital Originals returns

Transforming bold ideas into market-ready productions: Digital Originals returns 14 May, 2026 Media releases SBS, NITV and Screen Australia have announced ...

14/05/2026

Australia Uncovered Returns to SBS with Bold New Season Featuring John Safran on Free Speech and Powerful Stories of Justice and Survival

Australia Uncovered Returns to SBS with Bold New Season Featuring John Safran on...

14/05/2026

Rohde & Schwarz transforms spectrum complexity into situational awareness and effective countermeasures at AOC Europe 2026

Rohde & Schwarz transforms spectrum complexity into situational awareness and ef...

14/05/2026

Rohde & Schwarz and Quantum Systems join forces to redefine EW and C-UAS-enabled uncrewed operations

Rohde & Schwarz and Quantum Systems join forces to redefine EW and C-UAS-enabled...

14/05/2026

Rohde & Schwarz showcases STANAG aligned ARDRONIS Counter UAS capability at NATO Technical Interoperability Exercise 2026

Rohde & Schwarz showcases STANAG aligned ARDRONIS Counter UAS capability at NATO...

14/05/2026

Code of Silence wins Best Drama Series at the 2026 BAFTA's!

Code of Silence has won the BAFTA for Best Drama Series at Sunday night's ceremony at the Royal Festival Hall. The series, starring Rose Ayling-Ellis and w...

14/05/2026

The Wraith Shield Advantage: Transforming L3Harris Radios into AI-Enabled Counter-UAS Sensors

Soldiers equipped with Falcon IV radios will soon gain a sense-and-protect capa...

14/05/2026

Getting into the Space Nuclear Power Game with Next-Generation Technology

Artists concept of the L3Harris Next Gen RTG in flight configuration, designed to provide 250 watts of reliable power for decades-long missions in deep space....

14/05/2026

Vivid Broadcast builds remote production network around Calrec

Vivid Broadcast was embracing remote production long before it became the industry norm. Now, with Calrec's True Control 2.0-enabled Argo M and Type R conso...

14/05/2026

Nielsen data shows NZ vehicle advertisers are shifting gears as fuel pressures make EVs and hybrids an increasingly attractive option

Car ad spend rises sharply in March as more auto buyers turn to electric, hybrid...