
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
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
14/09/2025
Partnership to address business and technical challenges of DMF adoption
he Advanced Media Workflow Association (AMWA) and the European Broadcasting Union (EBU...
13/09/2025
ATLANTA Cox Media Group has announced that the company's vice president of news, Misty Turnbull has been inducted into the National Academy of Television Ar...
13/09/2025
AMSTERDAM Shotoku Broadcast Systems, a major developer of robotic systems, has announced plans to take studio robotics to the next level at IBC2025 by debuting ...
13/09/2025
At IBC2025 in Amsterdam, Riedel Communications unveiled Bolero Mini, the company's lightest and flattest wireless intercom beltpack to date. Designed to del...
13/09/2025
Shotoku Broadcast Systems, the international developer of dependable, userfriendly robotic systems, is taking studio robotics to the next level at IBC 2025 with...
13/09/2025
Bitmovin, a leading provider of video streaming solutions, today released the 9th annual Video Developer Report 2025/26, offering an in-depth look at the evolvi...
13/09/2025
Bitmovin, the leading provider of video streaming solutions, today announced a strategic partnership with StreamShark, the trusted video platform for enterprise...
13/09/2025
Ikegami has chosen IBC 2025 in Amsterdam as the launch venue for a major addition to its range of viewfinders. The new VFE-P711AD is a 7-inch high resolution OL...
13/09/2025
Founder-led Merger to Fast Track R&D, Asset Library Upgrades, Tools and More; No Disruption to Pricing or Support for Users
Today, KitBash3D, a pioneer in 3D a...
13/09/2025
With NDI certification, Atomos integration, Grass Valley collaboration, and a new Monitor app, at this year's IBC, Mavis is showcasing a series of powerful...
13/09/2025
Creamsource, maker of artisan LED lighting for film and television, has unveiled the Vortex24 Soft (V24S), a 1950W native soft light and the largest soft source...
13/09/2025
When international sports streaming service DAZN secured the global rights to the 2025 FIFA Club World Cup football tournament, it set out to deliver an unmatch...
13/09/2025
Riedel Communications today announced the acquisition of hi human interface from Broadcast Solutions, bringing a powerful, vendor-agnostic control system to it...
13/09/2025
Building on its long-term relationship with audio metering specialist RTW, Calrec has integrated the company's brand new TMxCore metering platform across it...
13/09/2025
Calrec is expanding its family of future-ready self-contained Argo M control surfaces at IBC2025, with the addition of a brand new powerful 48-fader console. Co...
13/09/2025
Celtic languages - including Cornish, Irish, Scottish Gaelic and Welsh - are the U.K.'s oldest living languages. To empower their speakers, the UK-LLM sover...
13/09/2025
Harmonic's Software-Based XOS Advanced Media Processor Provides Unparalleled Efficiency and Unlocks New Business Models SAN JOSE, Calif. - Sept. 13, 2025 -...
13/09/2025
Researchers find brain region that fuels compulsive drinking Study by Scripps Research scientists shows how the brain learns to seek alcohol for relief, not jus...
12/09/2025
College Football Kickoff 2025: Fox Sports Ups Look as Canon, Sony Power Shallow ...
12/09/2025
ABC/ESPN Excited For WNBA Postseason Coverage In Revamped FormatThe Finals moves to a best-of-seven series in 2025By Mark J Burns, SVG Contributor
Friday, Sep...
12/09/2025
(L-R) Jade Croot, Rosy McEwen, and Bryn Chainey attend the 2025 Sundance Film Festival premiere of Rabbit Trap at Eccles Theatre on January 24, 2025, in Park ...
12/09/2025
For fans, we know how important it is to stay plugged into music culture and dis...
12/09/2025
Link ping, Sweden and Shipley, United Kingdom, September 12, 2025 - Agama, the expert in video observability and analytics for service quality and customer expe...
12/09/2025
IBC2025 began on Sept. 12, with exhibits and conferences running through Sept. 15 at the RAI Amsterdam Convention Center. Explore the full TV Tech coverage of t...
12/09/2025
The Best Fictional Bands (and the Artists Who Make Them Great) With Spinal Tap II: The End Continues hitting theaters and songs from KPop Demon Hunters ruling...
12/09/2025
Industry veteran Tom Baldassare has joined Advanced Systems Group, LLC (ASG), a technology and services provider for media creatives and content owners, as a Se...
12/09/2025
Maxon, maker of powerful, approachable software solutions for creators working in 2D and 3D design, motion graphics, visual effects, and more, today announced a...
12/09/2025
PlayBox Neo, a leading provider of media playout solutions, has partnered with AI-Media, pioneering developers of AI-powered captioning technology, to integrate...
12/09/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
12/09/2025
New alliance strengthens the IT channel in Germany and Switzerland in protecting business-critical SaaS data.
Keepit, the world s only independent, cloud-nativ...
12/09/2025
Fincons Group, an international IT business consultancy and systems integrator company with more than 40 years of experience in the market, is proud to announce...
12/09/2025
Following its acquisition of Telemetrics, EVS continues its push into robotics with an announcement at IBC2025 that it is acquiring XD motion....
12/09/2025
TORONTO The North American Broadcasters Association (NABA) has announced the appointment of Eduardo Ruiz Sanchez, deputy director, broadcast operations at Telev...
12/09/2025
Ed Miller, a longtime broadcast engineer in Ohio and a former national president of the Society of Broadcast Engineers, has died....
12/09/2025
AMSTERDAM At this year's IBC2025, the Advanced HDR by Technicolor initiative will be pushing broadcasters to adopt a more dynamic, frame-by-frame conversion...
12/09/2025
Feature-length retrospective from Studio Crook to air in 2026
Sir David Jason returns to the nation's favourite comedy channel, U&GOLD, for Open All Hours:...
12/09/2025
September 12th, 2025
Tribeca X and The Female Quotient to Host Powerhouse Em...
12/09/2025
Friday 12 September 2025
The Boomtown Rats, Nyah Grace, Soweto Kinch, Royal Ballet and Madness also announced to perform at the ceremony on Tuesday
Sky today ...
12/09/2025
Wuppertal September 12, 2025
Riedel Unveils Ultra-Light Bolero Mini Wireless Intercom BeltpackAt IBC2025 in Amsterdam, Riedel Communications unveiled Bolero M...
12/09/2025
Wuppertal September 12, 2025
Riedel Communications Acquires hi human interfaceRiedel Communications today announced the acquisition of hi human interface fro...
12/09/2025
Back to All News
New International Crime Series Road (WT)' Explores Twiste...
12/09/2025
Back to All News
First Look: Thai Crime Drama Everybody Loves Me When I'm ...
12/09/2025
Back to All News
Netflix Marks 10 Years in Japan, Announces Three New Series Th...
12/09/2025
CORE+ virtually removes distortion, setting a new standard for church sound and giving worship teams the clarity and confidence they need.
Read the full artic...
12/09/2025
The Late Late Show is back with a bang after the summer break, and Patrick Kielt...
12/09/2025
The World Athletics Championships, Ireland v France in the Women's Rugby World Cup quarter-final, the Irish Champions Festival, and two Sports Direct Men...
12/09/2025
The Records Show starts Sunday at 6.30pm on RT One and RT Player.
Katie Hanno...
11/09/2025
Report: Busy Live Sports Streaming Execs Have Low-hanging Fruit' in Front o...