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
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
06/12/2025
FORT LAUDERDALE, Fla. A new survey from Pixitmedia by Datacore revealed a major shift in the Media & Entertainment industry in media archiving, with 85% of resp...
06/12/2025
HACKENSACK, N.J. LiveU has announced that the national public broadcaster Czech Television has completed one of the largest LiveU live production deployments fo...
06/12/2025
NEW YORK The National Academy of Television Arts and Sciences (NATAS) presented the Excellence in Production Technology Emmy Award to NASA+ and Dr. Tom Leight...
05/12/2025
2025 Sports Broadcasting Hall of Fame: Curt Gowdy Jr. - Master Storyteller, Nati...
05/12/2025
SVG Sit-Down: Veritone's Sean King on the Power of Mining Video, Audio DataThe company's Data Refinery offers users total control and governance over da...
05/12/2025
Platinum White Paper: Inside the Nashville Predators' Unified, Flexible, Sca...
05/12/2025
Netflix Reaches Agreement To Acquire Warner Bros. Following Planned WBD SplitThe deal does not include WBDs sports assets like TNT Sports (US, UK, LatAm), Euros...
05/12/2025
FOX Sports Returns to Indianapolis for Primetime Broadcast of Big Ten Championsh...
05/12/2025
SVG Summit 2025 Preview: Digital Engagement & Monetization Workshop Tackles the ...
05/12/2025
Atlanta United Lights Up New Emory Healthcare Studio With First Live Broadcast f...
05/12/2025
As Messi Takes the Pitch, MLS, Apple, NEP Roll Out Largest MLS Cup Production Ev...
05/12/2025
ESPN Enters College Football's Most Intense Month With Elevated Workflows fo...
05/12/2025
It's about that time! Awards season is in full swing, and the Film Independe...
05/12/2025
Every year, Spotify Wrapped offers a personalized look back at the audio that defined your year. It's a snapshot of your listening habits, designed to tell ...
05/12/2025
In 2025, Spotify's EQUAL, GLOW, and RADAR programs celebrated women, LGBTQIA , and emerging artists who turned moments into milestones. From breaking record...
05/12/2025
In our latest blog, we explain how Wi-Fi 7 rollouts can drive consumer loyalty with value-add services such as consumer cybersecurity. We also explore how this ...
05/12/2025
LOS ANGELES Netflix announced it has entered into an agreement to acquire the assets of Warner Bros. for $82.7 billion....
05/12/2025
NEW YORK Nielsens Gracenote has launched Gracenote Content Connect, a new ad platform that provides agencies, brands, supply-side platforms (SSPs) and demand-si...
05/12/2025
NEW YORK In an most important update to the workings of deal-based programmatic advertising, IAB Tech Lab has released version 1.0 of its Deals API for public c...
05/12/2025
NEW YORK Pass the turkey. Pass the stuffing. Pass the cranberry sauce. All are common requests of Americans celebrating Thanksgiving Day with family and f...
05/12/2025
NEW YORK Iris, the new cloud-connected camera control platform, has officially launched with features that turn virtually any PTZ camera into a software-connect...
05/12/2025
HOLLYWOOD, Calif. Netflix announced today that it has entered into an agreement to acquire the assets of Warner Bros. for $82.7 billion....
05/12/2025
NEW YORK Iris, the new cloud-connected camera control platform, has officially launched with features that turn virtually any PTZ camera into a software-connect...
05/12/2025
WASHINGTON The Federal Communications Commission has approved AT&T's $1.02 billion acquisition of spectrum from UScellular in a decision that was issued sho...
05/12/2025
The Best Coldplay Songs: 21 Tracks That Shoot for the Stars From Yellow to Viva La Vida, Fix You to Paradise, this playlist goes back to the start.
December ...
05/12/2025
Zafris Lecture Series Brings Nabil Ayers to Berklee The 32nd annual James G. Zafris Distinguished Lecture series was held on Thursday, November 13, with guest...
05/12/2025
Friday 5 December 2025
A new Game of Thrones Tale: Official trailer for Sky Exc...
05/12/2025
Back to All News
Don Lee, Lee Jin-uk, and Lalisa Manobal to Star in Netflix Act...
05/12/2025
Tis the season of giving once again and this year we've taken our Give Back Fridays' concept and turned it on its head.
In the autumn we were approach...
05/12/2025
Brayden Gogis doesn't remember a time when he wasn't completely fixated on games in all forms. In preschool, when they asked us to dress up as what we ...
05/12/2025
The Grinch steals the spotlight as the theme for The Late Late Toy Show 2025
Tune in tonight at 9:35pm on RT One and worldwide on RT Player
#LateLateToyShow...
05/12/2025
RT Announces New Presenters of Flagship News Programmes
New RT Six One News co-presenter Tommy Meskill
Sarah McInerney & Justin McCarthy join Morning Ir...
04/12/2025
ToolsOnAir Blackmagic Design HyperDeck Event Presets for just:in mac pro 2025 & ...
04/12/2025
ToolsOnAir AJA Ki Pro Event Presets for just:in mac pro 2025 & just:in linux
More Details:Starting with version 5.5, both just:in mac pro and just:in linux sol...
04/12/2025
Wangu Kanuri from Kenya and Godwin Asediba from Ghana are two of this years finalists for Thomsons Young Journalist of the Year Award. The pair are runners-up i...
04/12/2025
SVG Sit-Down: ProximaVision's Claudio Lisman on Why Tethered Drones Could Be...
04/12/2025
SVG Campus Shot Callers: Imry Halevi, Senior Associate Director of Athletics, Co...
04/12/2025
Platinum White Paper: LiveU Lightweight Sports Production: A Step Change in Spor...
04/12/2025
London to Riyadh: DAZN brings the boxing glamour to new production levels for Be...
04/12/2025
Analysis: Paramount bets on the battering ram' with Champions League play By Callum McCarthy, Editor-at-Large
Tuesday, December 2, 2025 - 10:12
Print ...
04/12/2025
Space City Home Network Launches SCHN DTC App for Astros and RocketsThe Rockets and Astros were previously the lone NBA and MLB teams without a DTC appBy Jason...
04/12/2025
SVG Summit 2025 Preview: Content Workflows Workshop Spotlights Evolution of Spor...
04/12/2025
New Sponsor Spotlight: Geotech's Patrick Wambold On the Unreal Engine Revolu...
04/12/2025
Curt Gowdy Jr. - Master Storyteller, Nationally and RegionallyBy Jason Dachman, Editorial Director, U.S.
Thursday, December 4, 2025 - 1:52 pm
Print This Sto...
04/12/2025
(L-R) Rebecca Lichtenfeld, Mohammadreza Eyni, Sara Khaki, and Judith Helfand att...
04/12/2025
SBS launches Future Frames initiative to support emerging First Nations video ed...
04/12/2025
Coronal mass ejections caused by eruptions on the surface of the sun can have fa...
04/12/2025
Gracenote Content Connect enables media ecosystem to precisely align ad campaigns and programming based on rich content signals
NEW YORK - December 4, 2025 - N...
HIGHLIGHTS:
