Sony Digital Rapids Pixel Power calrec Sony

Kudelski Group Annual Results 2019

27/02/2020

HIGHLIGHTS:

USD 827.3 million total revenues and other operating income, with EBITDA of USD 81.4 million ex restructuring costs

In-depth transformation of Group operations enabling future cross-segment synergies, and delivering USD 56.8 million total reduction of Group recurring operating expenses in 2019

Good resilience of Digital TV in mature markets, further portfolio optimization, extension of key customer relationships and deployment of cloud security platforms

Shift of Cybersecurity business to high margin activities and 30% year-on-year growth in EMEA region, particularly in Germany and France

Growing recognition for the Group's offering in IoT, initial launches completed both on-premise and on leading cloud platforms, including AWS and Azure

Completed first set of restructuring measures and launching further transformation program in Public Access

Outlook for 2020: EBITDA between USD 70 and 90 million and positive net income

Proposing a cash distribution (dividend) of CHF 0.10 per bearer share

Cheseaux-sur-Lausanne, Switzerland, and Phoenix (AZ), USA - February 27, 2020 - The Kudelski Group (SIX: KUD.S), the world leader in digital security, announced today its 2019 annual results.

In 2019, total revenues and other operating income decreased from USD 919.7 million to USD 827.3 million. This evolution was mainly driven by the Digital TV segment, which posted a USD 61.3 million decline, reflecting the trend seen in emerging markets. In the Public Access segment, European sales increased by 8.8% in constant currency, while in the Americas, sales decreased 16.5% compared to the previous year. Cybersecurity revenues shifted from lower margin technology reselling to higher margin advisory services, managed security services and proprietary technology sales. IoT generated marginal revenues as the segment's primary focus continues to be the development of a secure IoT platform solution for the market.

Overall, the Group reduced 2019 operating expenses by USD 81.7 million, including USD 56.8 million of cost savings achieved with the ongoing restructuring program, net of the cost of additional investments in the Group's key growth areas. Group EBITDA, excluding restructuring costs, was USD 81.4 million, a USD 5.5 million increase over the previous year.

The Group booked a USD 38.6 million net loss for 2019, including a total of USD 45.0 million of one-off costs from restructuring and from the tax effect of such restructuring measures.

In 2019, the Group generated USD 34.2 million of cash flow from operating activities, compared with a USD -4.7 million in 2018. Cash generation significantly improved in the second half to USD 36.2 million compared to a first-half operating cash flow of USD -2.0 million. The main driver of the year-on-year improvement is the reduction of trade accounts receivable, which generated USD 58.8 million of cash in 2019.

IN-DEPTH TRANSFORMATION OF GROUP OPERATIONS

The Group continued the transformation of its Digital TV organization to further enhance its operational efficiency, lay the foundation for future growth and consolidate its position as a world leader in this sector. Several key structural changes were made to the organization, including the merger of product units into a consolidated entity to deliver a more coherent offering to the market. In June 2019, the Group appointed Nancy Goldberg as Executive Vice President and Chief Marketing Officer, DTV, succeeding Pierre Roy.

The Group united its security brands for the first time at the 2020 CES, demonstrating the compelling value proposition of its end-to-end digital security ecosystem, which spans content protection, IoT and cybersecurity and leverages the strong synergies between Group entities.

The Group initiated a turnaround plan for SKIDATA in July 2019 and appointed David Luken as the new CEO of SKIDATA, with the objective of improving both cash flow generation and profitability.

The Group completed an in-depth review of SKIDATA's operations, defining a blueprint for operating improvements aimed at building an optimized operating model. A first wave of measures was completed with a focus on SKIDATA's US operations, including, in particular, the merger of formerly independent entities, the introduction of Group ERP and supply chain tools, a clean-up of the project portfolio, and the integration and streamlining of critical functions. To accelerate the implementation of its restructuring plan, the Group also replaced SKIDATA's General Manager for the US.

During 2019, Kudelski Security executed several operational changes in order to better enable the implementation of its growth strategy. Such changes include the regional alignment of management and resources for closer client relationship and support, the increased focus on the development of high added value products and increased collaboration with other Kudelski Group business entities. In August 2019, Andrew Howard was appointed as CEO of Kudelski Security.

DIGITAL TV: OPTIMIZATION OF PORTFOLIO AND EXTENSION OF KEY CUSTOMER RELATIONSHIPS

The digital TV market continues to contract, mainly in emerging markets, as a number of established pay TV operators report lower subscriber numbers. However, excluding restructuring costs, the Group's Digital TV segment generated an EBITDA of USD 114.4 million, representing a USD 2.5 million improvement from the previous year. This segment's profitability benefits from the improvement of productivity enabled by the transformation and the reduction of operating expenses driven by the Group's restructuring program.

In 2019, the Group continued to strengthen its partnerships with market-leading operators, especially in developed markets. Among the highlights:

Altice USA and the Kudelski Group expanded their partnership for both Media & Enterprise security by su
LINK: https://dtv.nagra.com/kudelski-group-annual-results-2019...
See more stories from nagra

Europe Stories

02/07/2020

Sound Particles release Air plug-in

New processor simulates ambient high-frequency absorption A well-known mixing tip for making sounds appear more distant is to roll a bit of top end off. Thi...

02/07/2020

Big Picture Launches Premium Live Event Studio Facility in Sydney

Big Picture Launches Premium Live Event Studio Facility in Sydney posted: 01/07/2020 Big Picture, an NEP Live Events Company, announces its premium live e...

02/07/2020

HPA Industry Recovery Task Force Names Leon Silverman Chair

HPA Industry Recovery Task Force Names Leon Silverman Chair June 30, 2019 (Burbank,CA) - The Hollywood Professional Association (HPA), the trade organization ...

02/07/2020

Modena By Fraser Buriram Hotel Creates Immersive AV Experiences with HARMAN Professional Networked Audio Systems

July 01, 2020 BURIRAM, Thailand-To create an immersive AV solution for a wide r...

02/07/2020

VGTRK Upgrade with Calrec Brio

This article appeared in the June 2020 edition of TVBEurope. Philip Stevens looks at the completion of a ten-year project. Based in Moscow, Vserossiyskaya gosu...

02/07/2020

Renowned IT and Energy Industry Expert Strengthens Arvato Systems Management

Renowned IT and Energy Industry Expert Strengthens Arvato Systems Management Birgit Lichtenstein becomes a member of the Arvato Systems Executive Board G ter...

02/07/2020

Sky Germany begins new era of flexibility, choice and value for customers

More flexibility: customers can move to a monthly subscription after the first term More value: customers will now get Sky Q with Sky Go, brilliant HD and the ...

02/07/2020

Lovecraft Country launches on Sky Atlantic and NOW TV on 17 August

Sky has confirmed that upcoming horror drama Lovecraft Country featuring Jonathan Majors, Jurnee Smollett, Wunmi Mosaku, Michael Kenneth Williams and Courtney B...

02/07/2020

Sky Sports Statement

Sky Sports is committed to doing more to tackle racism, highlight racial injustice and support communities impacted by racism. Our support is for the moral cau...

02/07/2020

2020-06-16

When the Apple 2020 Worldwide Developers Conference kicks off on June 22 in a new virtual format, a global community of 23 million developers will have the oppo...

02/07/2020

Big Picture Launches Premium Live Event Studio Facility in Sydney

Big Picture Launches Premium Live Event Studio Facility in SydneySYDNEY, Australia | June 23, 2020...

02/07/2020

NEP and Skyway Studios Launch LED Smart Studio in Nashville

NEP and Skyway Studios Launch LED Smart Studio in NashvilleNASHVILLE, TN | June 23, 2020...

02/07/2020

James Baker to depart Red Arrow Studios

James Baker to depart Red Arrow Studios Unterfoehring, July 1, 2020. ProSiebenSat.1 has announced that the current management contract of Red Arrow Studios CE...

02/07/2020

Premiere at Volksoper Vienna: Lawo mc56 Commissioned Via Remote Control

The Vienna Volksoper ( Volksoper Wien ), Vienna's grand house for operetta, opera, musicals and ballet, is a cultural treasure. Housed in an equally treas...

01/07/2020

Webinar Loudness for News and Promos

Do you ever see one of your news stories or promos go out and realize loudness wasn't checked or corrected properly? Even if you have hardware-based audio ...

01/07/2020

An interview with Javier Sabater, VSN's Support Director

VSN's technical support team has been offering users in the Broadcast and Media & Entertainment industry a customized service with record figures for years....

01/07/2020

Object Matrix Disrupts Storage Market with Innovative Support Offerings

-- Object Matrix Disrupts Storage Market with Innovative Support Offerings -- Cardiff, Wales, 1st July 2020 Object Matrix has announced a range of groundbreak...

01/07/2020

RT 2FM's Game On kicks-off with a brand new show sponsor

RT Media Sales today (Wednesday 1 July, 2020) announced Green Farm as the new sponsor of the popular 2FM night time sports show, Game On. Hosted by Champion J...

01/07/2020

Countrywide wins 2020 International Federation of Agricultural Journalists (IFAJ) star prize for broadcast (audio)

The Climate Change and Irish Farming broadcast on RT Radio 1's Countrywid...

01/07/2020

Intelligent transportation infrastructure development

Intelligent transportation infrastructure development Budapest, June 25, 2020 13:00 The Budapest University of Technology and Economics is conducting a uni...

01/07/2020

Alibi picks up three hit US drama series from the ViacomCBS Global Distribution Group, including Why Women Kill, starring Lucy Liu

1 July 2020 UKTV has acquired three brand new US drama series from the ViacomCBS...

01/07/2020

Chunghwa Telecom launches commercial 5G in Taiwan

Ericsson was announced as a 5G supplier to Chunghwa Telecom in March 2020. Ericsson has deployed Ericsson Radio System 5G non-standalone technology on the 3.5GH...

01/07/2020

Statement on Infront's cooperation with the DFB

Statement on Infront's cooperation with the DFB posted: 01/07/2020 German FA cancels Infront partnership citing damaging activities' - Agency says ...

01/07/2020

Ars Electronica Futurelab

Ars Electronica Futurelab posted: 01/07/2020 EU project Immersify is coming to an end, research and development continues In stark contrast to video, TV ...

01/07/2020

Palzer smashes 23km Watzmann crossing record

Palzer smashes 23km Watzmann crossing record posted: 01/07/2020 German ski mountaineer and runner crosses three peaks above 2,300m. Ski mountaineer and run...

01/07/2020

Infront and Norwegian Ski Federation prolong media rights agreement for FIS World Cup events

Infront and Norwegian Ski Federation prolong media rights agreement for FIS Worl...

01/07/2020

Cue 13 Design reimagines The Wharf using Elation Proteus and Paladin

Cue 13 Design reimagines The Wharf using Elation Proteus and Paladin posted: 01/07/2020 Nightly lightshow at popular Gulf Coast entertainment district r...

01/07/2020

Dejero LivePlus Mobile App Revolutionizes San Diego's KFMB-TV Emergency Reporting

Dejero LivePlus Mobile App Revolutionizes San Diego's KFMB-TV Emergency Repo...

01/07/2020

LYNX Technik Announces New 12Gbit Dual Channel SDI Fiber Transmitter with CWDM

LYNX Technik Announces New 12Gbit Dual Channel SDI Fiber Transmitter with CWDM posted: 01/07/2020 LYNX Technik, provider of modular signal processing inte...

01/07/2020

Special Event Services hosts The Gray Room Sessions with Elation lights

Special Event Services hosts The Gray Room Sessions with Elation lights posted: 01/07/2020 Warehouse area transformed into intimate performance space. Wee...

01/07/2020

Media Online GmbH becomes Broadcast Solutions Products und Service GmbH

Media Online GmbH becomes Broadcast Solutions Products und Service GmbH posted: 01/07/2020 As of 1 July 2020, Media Online GmbH, based in Frankfurt (Main)...

01/07/2020

ClickShare Conference, the perfect partner for the new hybrid Workplace

ClickShare Conference, the perfect partner for the new hybrid Workplace Kortrijk, Belgium, July 2020 - With the launch of ClickShare Conference last February, g...

01/07/2020

Arvato and Vidispine unite as one brand

Move will bring the strengths of the two brands together in a more cohesive way, and give customers a clearer understanding of the product offering By Jenny Pr...

01/07/2020

Mediapro secures 120 million to weather coronavirus storm

Includes 55 million from Deutsche Bank By Jenny Priestley Published: July 1, 2020 Includes 55 million from Deutsche Bank target=_blank title=Share on L...

01/07/2020

Broadcast Solutions launches new products and services division

Germanys Media Online GmBH is now trading as Broadcast Solutions Produkte und Service GmbH By Jenny Priestley Published: July 1, 2020 Germany's Media O...

01/07/2020

Ross Mobile Productions Becomes Ross Production Services

Ross Mobile Productions Becomes Ross Production Services posted: 30/06/2020 Ross Video is pleased to announce that Ross Mobile Productions, the company...

01/07/2020

DVO Tools for Mistika adds industry standard image processing options to Mistika 10

View Larger Image SGO and Digital Vision World have launched DVO Tools for Mi...

01/07/2020

Anarchic drama Britannia lands on EPIX

Season One of the Acclaimed Epic Fantasy Drama Series to Debut on EPIX on August 2 Immediately Followed by the U.S. Premiere of 10-Episode Season Two on Octobe...

01/07/2020

5G Stand Alone to Become Reality

GSMA Releases Guideline Document to Expedite the Deployment 5G Stand Alone Networks London: The GSMA convened pioneers in 5G to develop a guidelines document t...

01/07/2020

1.4 million tune in to RT Does Comic Relief with over 5.5 million raised

1.4 million people tuned in to RT Does Comic Relief last Friday night for what was a jam-packed night of comedy, heart-warming moments and entertainment, raisi...

01/07/2020

Just three weeks after the show's debut, Australia's Seven has confirmed Big Brother will return for a new series

Network Programming Director Angus Ross said: Big Brother is a television super...

30/06/2020

Lokeren Lockdown with LJKE

Gaant?! is a Belgian events organiser based in the city of Lokeren, whose name in the local Belgian-Dutch dialect Lokers, means Are you ok?! In the light of t...

30/06/2020

Up On The Roof

It is often said that a crisis brings out the best in people. As the COVID-19 pandemic globally impacts every walk of life, the entertainment technology sector ...

30/06/2020

Arvato Systems re-launches Vidispine as go-to-market brand for media management & monetization

Arvato Systems Re-Launches Vidispine as Go-to-Market Brand for Media Management ...

30/06/2020

NAGRA NexGuard forensic watermarking leverages AWS to secure pre-release and early-release content

Content owners now have an added level of security in the processing of their pr...

30/06/2020

Nokia and Djezzy implement ultra-high network capacity technology to meet growing mobile traffic demand

Nokia and Djezzy implement ultra-high network capacity technology to meet growin...

30/06/2020

Tomorrow Studios scores highly sought after series from prolific French producer Eric Rochant

Tomorrow Studios scores highly sought after series from prolific French producer...

30/06/2020

Apple News+ achieves ABC Certified Supplier status

30/06/2020 We're delighted to announce Apple News has become an ABC Certified Supplier, following our successful audit of their All you can read sales...

30/06/2020

New Ericsson AIR solutions to accelerate 5G mid-band deployment

Communications service providers can now deploy mid-band 5G networks faster and on a wider scale without adding to their site footprint, thanks to two new Erics...