Sony 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

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 ...

07/10/2026

Dalet Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...

06/09/2026

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

01/09/2026

Broadcasters Gain Flexibility in Pursuit of 5G Multicasting

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

Winning the Fight Against Churn

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

How Multiviewers Are Evolving Into Information Hubs'

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

IBC2026: New Audio Tools on Tap from Telos Alliance

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

SMPTE Roadshow to Examine Media Infrastructure at IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

Roku Debuts Its First 4K OLED TVs

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

Mark Vinten Joins ASG's Audio and Postproduction Team

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

Pronology Introduces New StreamFile Core Capabilities at...

Pronology, a developer of cutting-edge broadcast workflow solutions, showcases the newest capabilities for its StreamFile Core platform at the 2026 IBC Show (S...

01/09/2026

PROTON Unveils Next-Generation FLEXY Camera at IBC 2026

PROTON Unveils Next-Generation FLEXY Camera at IBC 2026 Brie Clayton September 1, 2026 0 Comments 10-metre serialised coax unlocks new perspectives an...

01/09/2026

Hulu Drama The Season Graded with DaVinci Resolve Studio

Hulu Drama The Season Graded with DaVinci Resolve Studio Brie Clayton September 1, 2026 0 Comments Senior Colorist Mark Kueper of Picture Shop crafts ...

01/09/2026

Pluxbox Launches CoreOC to Transform Mission-Critical Media Operations

Pluxbox Launches CoreOC to Transform Mission-Critical Media Operations Brie Clayton September 1, 2026 0 Comments A vendor-agnostic operational control l...

01/09/2026

Layercake Appoints Former FOX SPORTS and Network Ten COO...

Layercake, the company behind the intelligent media workflow platform Streamcake, today announced the appointment of Jon Marquard as Director and Chairperson. T...

01/09/2026

Actus Digital Unveils the Future of Broadcast Monitoring...

Actus Digital, a LiveU company, will unveil the next generation of its Actus X platform at IBC2026 on LiveUs Stand 7.C24, demonstrating how broadcasters can sim...

01/09/2026

Studio Automated and Egripment Power the Tactical Feed fo...

Broadcast Solutions, a leading systems integrator and provider of innovative solutions for the broadcast media industry, delivered transformational technology a...

01/09/2026

OTV turns to Quortex to replace legacy video hardware

Quortex, the intelligent video technology company carved out from Synamedia by Lumine Group, today announced that Odisha Television Network (OTV), the leading r...

01/09/2026

Zixi and Ateme Deepen Strategic Alliance to Accelerate Hy...

Zixi and Ateme today announced an expanded strategic partnership to help broadcasters and content owners accelerate the transition from satellite to resilient I...

01/09/2026

CBS Boston Debuts New AR/VR Technology-Driven Studio

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

FCC Raises Regulatory Fees for TV Stations

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

For-A Introduces Go Vertical! AiDi and AiDi Sports Hub

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

T-Mobile Continues to Dominate Ooklas Fixed Wireless Speed Tests

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

Carr Announces New FCC Enforcement Bureau Chief

Share Copy link Facebook X Linkedin Bluesky Email...

01/09/2026

Experience La Dolce Vita with Donal's Italian Kitchen

Join Donal Skehan in discovering the best of everyday Italian cooking in brand new series, airing Wednesday 2 September In this brand-new series, Donal's I...

01/09/2026

RT Supporting the Arts is supporting 28 cultural events nationwide this September

RT Supporting the Arts is delighted to spotlight a diverse range of arts, cultu...

31/08/2026

Pixotope Consolidates Virtual Production Tools into Unified Platform

Pixotope Technologies has announced a unified platform offering all Pixotope capabilities across three editions, available with the Pixotope 26.3 release in Q3 ...

31/08/2026

Elektron update Tonverk OS

Sampler gains Overbridge multitrack streaming Elektron's polyphonic sampler, the Tonverk, has just received an OS update that introduces multitrack stre...

31/08/2026

Thorus XT from UVI

Popular chorus plug-in gains second engine UVI's latest plug-in offers a fresh new take on their best-selling chorus effect, combining a pair of engines...

31/08/2026

Optus commits 3% of consumer brand spend to First Nations media in new landmark partnership with NITV

Optus commits 3% of consumer brand spend to First Nations media in new landmark ...

31/08/2026

FingerWorks Telestrators Expands European Presence Throug...

FingerWorks Telestrators, the industry leader in software-based telestration and live sports analysis solutions, announces its new partnership with Broadcast R...

31/08/2026

ARISDA Bridge Launches: DaVinci Resolve Timecode, Studio Clock, and Work-Time Tracking in One Windows App

ARISDA Bridge Launches: DaVinci Resolve Timecode, Studio Clock, and Work-Time Tr...

31/08/2026

Short Film All That's Left Shot with URSA Cine 12K LF

Short Film All That's Left Shot with URSA Cine 12K LF Brie Clayton August 31, 2026 0 Comments Intimate drama edited and graded in DaVinci Resolve ...

31/08/2026

Bridge Technologies Announces Support for Blackmagic IP10 Codec

Bridge Technologies Announces Support for Blackmagic IP10 Codec Brie Clayton August 31, 2026 0 Comments Both booths will showcase each other's tec...

31/08/2026

Creative COW Roundtable, August 23, 2026- AEAI

Creative COW Roundtable, August 23, 2026- AEAI Brie Clayton August 31, 2026 0 Comments COWs from around the world assemble to discuss Using AI to Beat...

31/08/2026

Homecoming Artist Spotlight: Susan Tedeschi

Homecoming Artist Spotlight: Susan Tedeschi The Grammy-winning singer and guitarist talks about finding her voice at Berklee ahead of her Homecoming performan...

31/08/2026

HC2 Meets with FCC Legal Advisor in Push for 5G Broadcasting

Share Copy link Facebook X Linkedin Bluesky Email...

31/08/2026

Tribeca Studios Releases First-Look Trailer For Tribeca 25, The New Documentary From Matt Tyrnauer

August 31st, 2026 Press Materials Here TRIBECA STUDIOS RELEASES FIRST-LOOK TRA...

31/08/2026

Digicel Pacific Selects Techtel for PNG Digital TV Head-End Transformation

Digicel Pacific Selects Techtel for PNG Digital TV Head-End Transformation 31 Aug Written By Mal Chandler Sydney, 31 August 2026 - Techtel has been appointe...

30/08/2026

Reason Studios launch Reason Free

Free collection includes 15 instruments Reason Studios have announced that they are making their popular Reason Rack plug-in free, and bundling it with a se...

29/08/2026

SSL to introduce O-Series V2.0

Odyssey & Oracle console software update incoming With a second console now joining their O-Series, SSL have announced the upcoming launch of O-Series V2.0,...

29/08/2026

Scripps Hires NBCU Sales Veteran Jen Carfley

Share Copy link Facebook X Linkedin Bluesky Email...

29/08/2026

Comcast's Universal Ads Taps Tracer to Upgrade Operations

Share Copy link Facebook X Linkedin Bluesky Email...

29/08/2026

PlayBox Technology to Showcase the Future of Media Orches...

PlayBox Technology is heading to IBC2026 with a clear message: the future of broadcast and streaming is not about replacing everything it is about making what...

29/08/2026

Berklee Announces Fall 2026 Signature Series

Berklee Announces Fall 2026 Signature Series This years concerts feature MonoNeon, Brandon Woody, Marcus Gilmore, and Caroline Davis, alongside Berklee Asia R...

28/08/2026

CBS L.A. Runs Two Hot Control Rooms, Dual Broadcasts for Rams-Chargers Preseason Game

KCBS takes the Chargers side, KCAL takes the Rams - with feeds out to 18 partner...

28/08/2026

Buddy Turns Childhood Comfort into Midnight Terror

(L-R) Topher Grace, Cristin Milioti, Delaney Quinn, Casper Kelly, and Keegan-Michael Key pose with the character Buddy at the Buddy Premiere during the 2026 S...

28/08/2026

IK Multimedia announce Sinphonica Maestosa Strings

The Italian orchestra, reimagined IK Multimedia have announced the upcoming launch of Sinphonica, a new family of Italian orchestral instruments designed f...

28/08/2026

Voxis from CEDAR Audio

Voice-isolation plug-in boasts sub-10ms latency Launched in 2025, CEDAR Audio's Icons range was created with the aim of bringing the company's renow...

28/08/2026

Charter Takes Scripps to Court Over Carriage of Las Vegas' KMCC

Share Copy link Facebook X Linkedin Bluesky Email...