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
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
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...
01/06/2026
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...
08/05/2026
Liberty University on why broadcast technology isn't just a technical invest...
08/05/2026
COW Jobs: UGC, On-Camera Video Content
Brie Clayton May 7, 2026
0 Comments
UGC, On-Camera Video Content
April 17, 2026Documentary Editor - US,......
07/05/2026
Journalists reporting on Sudan are working in one of the most complex and fast-m...
07/05/2026
Multi-year partnership positions Victory+ as a free home for Dallas Cowboys orig...
07/05/2026
From sideline reporting to directing and producing, the talented sophomore is building a well-rounded foundation for a career in live sports production
In the ...
07/05/2026
Cobalt Digital has received two Future Best of Show awards at NAB Show 2026. The COBALT blueCORE platform was recognized by TV Tech, and the COBALT PACIFIC ULL-...
07/05/2026
ESPN analyst Mina Kimes will host the televised semifinals and finals of the 202...
07/05/2026
Bitmovin has announced that MUBI, the global film streaming platform, has selected Bitmovin as its cloud VOD encoding partner. Bitmovin's encoding infrastru...
07/05/2026
NBCUniversal Telemundo Enterprises and the U.S. Soccer Federation have announced...
07/05/2026
Angel City Football Club (ACFC) and Victory have announced a regional broadcast partnership bringing live match coverage to fans across the greater Los Angeles...
07/05/2026
Spiideo has announced the launch of AI Highlights inside Spiideo Play, its automated sports production platform. AI Highlights combines video, event data, audio...
07/05/2026
Leostream Corporation has announced a unified remote access ecosystem for high-p...
07/05/2026
The Atlanta Dream has partnered with Victory to stream all locally broadcast Dream games for free, expanding the team's digital distribution strategy and g...
07/05/2026
Riedel Communications has announced the appointment of Marc Engroff as Chief Fin...
07/05/2026
SES and ARD, Germany's largest public broadcasting network, have announced a long-term extension of their satellite distribution partnership through 2039. U...
07/05/2026
UpLight Technologies delivers a flexible video and lighting system for a new televised sportLaunching the Pro Cheer League required more than creating a compell...
07/05/2026
Full Day Productions and GSE Worldwide have announced Spikes Under the Lights, a...
07/05/2026
Seit dem Start im Jahr 2023 hat DJ (Beta) das personalisierte H rerlebnis von 94...
07/05/2026
Da quando stata presentata nel 2023, DJ (beta) ha aiutato a definire un'esperienza d'ascolto pi personalizzata per 94 milioni di utenti Spotify Premi...
07/05/2026
Since launching in 2023, DJ (beta) has helped shape a more personalized listenin...
07/05/2026
Desde o lan amento em 2023, o DJ (beta) j ajudou a deixar a experi ncia de ouvi...
07/05/2026
From our earliest days, Spotify has been built on a simple principle: Great audio should be easy to reach. It's what's driven us to expand from music to...
07/05/2026
Asian and Pacific Islander artists continue to shape the global soundscape, pushing creative boundaries and connecting with fans worldwide. This Asian & Pacific...
07/05/2026
Company announce long-requested choir instrument
In the latest expansion of their Symphonic Elements series, UJAM have introduced an all-new vocal instrumen...
07/05/2026
Modular-inspired sound generation with digital control
Buchla have introduced Ziggy, a new compact synthesizer built around the company's complex oscill...
07/05/2026
Combines analogue voices with digital synthesis and sequencing
Polyend have announced Drums, a new hybrid analogue and digital drum machine that combines sy...
07/05/2026
Control surface now officially supports four DAWs
When Nektar launched the Panorama CS12 control surface, it worked exclusively with Apple's Logic Pro, ...
07/05/2026
In the first quarter 2026, SGL Carbon generated consolidated sales of 184.5 million, which was 49.8 million, or 21.3%, lower than in the prior year (Q1 2025: ...
07/05/2026
Rohde & Schwarz and Greenerwave achieve precise and fast ESA antenna characteriz...
07/05/2026
Two multi-role L3Harris products - the Red Wolf launched effects vehicle and SK...
07/05/2026
L3Harris will be developing key features of a secure and resilient digital infra...
07/05/2026
Alysa Liu and Shohei Ohtani Help Drive Viewership as 91 of the Top 100 Broadcast...
07/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/05/2026
Cobalt Digital Wins Two Future Best of Show Awards at 2026 NAB Show
Manufacturer Recognized by TV Tech and TVBEurope for Innovation in signal processing
Cobal...
07/05/2026
Software and hardware platforms, AI power and user-friendliness on show...
07/05/2026
Intinor will demonstrate its latest technical enhancements for the Direkt series at BroadcastAsia 2026. With a continued focus on reliable contribution and remo...
07/05/2026
Bitmovin has announced that MUBI has chosen Bitmovin as its cloud VOD encoding partner, replacing MUBI's legacy on premises encoding setup to improve scalab...
07/05/2026
Meet Graduates from Berklees Class of 2026 Members of this years graduating class reflect on their proudest moments at Berklee and look ahead to whats next.
...
07/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/05/2026
At BroadcastAsia 2026, Interra Systems will demonstrate its latest innovations in automated quality control (QC), real-time monitoring, and captioning. The comp...
07/05/2026
At this year's Broadcast Asia, PlayBox Neo is set to unveil recent innovations across its PlayBox Neo Suite and integrated range of broadcast media solution...
07/05/2026
Strategic three-year partnership marks delivery phase of BFBS' next-generation media vision
Media organisation and military charity BFBS (British Forces Br...
07/05/2026
Amagi, the agentic industry cloud platform for unified broadcast, streaming, and monetization, today announced the availability of its In-Content Ads offering v...
07/05/2026
Lightware Visual Engineering has developed Rack Taurus for rack-based environments such as education and corporate training spaces. It enables clean and simple ...
07/05/2026
Jigsaw24, the UK's leading media equipment supplier and systems integrator, will showcase its expanded end-to-end workflow capabilities at MPTS 2026, signal...
HIGHLIGHTS:
