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...
12/05/2026
Beyond the Hype: A Strategic Post-Hoc Analysis of NAB 2026 If NAB Show 2026 had an underlying theme, it was a quiet, industry-wide pivot from the high-energy sp...
12/05/2026
Guntermann and Drunck (G&D), a Panoptec Technologies Group company, and CT Square, led by Chandresh Shah, have announced a joint venture to distribute G&D and V...
12/05/2026
With 30 days until the start of the FIFA World Cup 2026, Telemundo, the exclusive Spanish-language home of the tournament in the United States, has announced th...
12/05/2026
The NHL has announced the return of Stanley Pup for its third consecutive year, a 90-minute special featuring adoptable rescue dogs competing on a miniature rin...
12/05/2026
NBCUniversal presented its 2026 Upfront to advertisers at Radio City Music Hall, detailing upcoming programming across NBC, Peacock, Bravo, and Versant properti...
12/05/2026
FOX Sports has announced funding for the Fandom and Social Connection Initiative at Harvard Kennedy School's Shorenstein Center on Media, Politics, and Publ...
12/05/2026
TNDV and Live Media, both divisions of Live Media Group, supported live broadcast coverage around NCAA Final Four weekend in Indianapolis, including the March M...
12/05/2026
The European Football Alliance (EFA) has announced a content distribution agreement with Fubo Sports Network, the free ad-supported streaming TV (FAST) channel ...
12/05/2026
For the first time, Spanish-speaking fans in the U.S. will have two separate tel...
12/05/2026
CP Communications led a comprehensive spectrum management initiative on behalf of Churchill Downs during Kentucky Derby week, coordinating RF assets across the ...
12/05/2026
LiveU has announced a strategic partnership with DRONERESPONDERS, a 501(c)3 non-...
12/05/2026
Open Broadcast Systems has announced that BMC TV, a specialist in IP transport of broadcast content, has selected the Open Broadcast Systems 5G Flyaway solution...
12/05/2026
NEP Europe, part of NEP Group, has announced it will deliver broadcast solutions...
12/05/2026
Grass Valley has announced continued collaboration with Ravensbourne University ...
12/05/2026
Stats Perform has announced the launch of Opta Pulse, an AI-assisted video creation and distribution platform for leagues, rights holders, and broadcasters. The...
12/05/2026
FOX Sports has announced a collaboration with Sesame Workshop to integrate Sesame Street characters into FOX Sports' FIFA World Cup 2026 programming. Conten...
12/05/2026
To date, NHL Productions has produced 19 broadcasts with commentary in American Sign Language
NHL in ASL (American Sign Language) may be just one show, but the...
12/05/2026
Google's Brian Albert: creators, athletes, highlights, nostalgia, second-scr...
12/05/2026
A still from Past Lives by Celine Song, an official selection of the Premieres program at the 2023 Sundance Film Festival. (Courtesy of Sundance Institute | p...
12/05/2026
Spotify is where fans and artists come together, turning discovery into somethin...
12/05/2026
Features patented Marco-MMC clocking technology
Black Lion Audio's latest release combines the company's expertise in clocking with their renowned p...
12/05/2026
New Track Panel, sequencer upgrades & more
Following their recent public beta release, Reason Studios have announced the full release of Reason 14. With the...
12/05/2026
One month to go! SBS reveals expansive FIFA World Cup 2026 lineup beyond the pi...
12/05/2026
Rohde & Schwarz presents its advanced solutions for power electronics testing at...
12/05/2026
aconnic AG (ISIN: DE000A0LBKW6), Munich, has developed a modified fund raising p...
12/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/05/2026
Tyrell Corporation, specialists in high-end live sports and entertainment broadcasts, was tasked with delivering compelling broadcast coverage of premier equest...
12/05/2026
Registration is now open for IBC2026 as the global media, entertainment and technology community prepares to converge on the RAI Amsterdam from 11 14 September ...
12/05/2026
Ross Video, a global leader in live video production technology, will present its latest innovations and integrated production workflows at BroadcastAsia 2026, ...
12/05/2026
500 selected leaders from around the world across start-ups, corporates, and venture capital. Over 50bn in assets under management among attending investors, a...
12/05/2026
CVP, one of Europe's leading suppliers of professional video and broadcast solutions, has appointed Randy Koeman as Sales Manager, Netherlands, marking anot...
12/05/2026
Taiwan Television has expanded its HD content ingest workflow capabilities by investing in the PlayBox Neo Suite - a leading multi-channel multi-server UHD/HD/S...
12/05/2026
Jigsaw24 is strengthening its media team with the appointment of Tom Laker as Client Director and Ashish Chauhan as Project Manager. These strategic hires bring...
12/05/2026
Broadcast playout leader showcases hybrid IP infrastructure and workflow automation with Videoland deployment as regional benchmark...
12/05/2026
dzjinius, the all-in-one production management platform for the media and entertainment industry, will showcase its centralised approach to production workflows...
12/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
12/05/2026
NUGEN Audio will debut Version 1.1 of DialogCheck, its intelligent dialog intelligibility and compliance tool, at the 2026 Media Production & Technology Show (S...
12/05/2026
The reactive visuals can adapt to any stage or screen setup and comprise 50 layers of Notch content
Today, Disguise announced that its high performance GX 3 m...
12/05/2026
Snapgrid , Snapbag & Airglow Expand Creative Control for the ARRI Modular LED BarFollowing the launch of the ARRI Omnibar, DoPchoice introduces a dedicated li...
12/05/2026
May 12th, 2026 Press Materials Available Here
TRIBECA FESTIVAL UNVEILS 2026 GAMES PROGRAM
Tribeca Celebrates Its 25th Anniversary With World Premieres and Pl...
12/05/2026
May 12th, 2026 Press Materials Available Here
MADONNA BRINGS THE WORLD PREMIERE OF CONFESSIONS II TO 2026 TRIBECA FESTIVAL
The Global Icon Will Unveil a Cine...
12/05/2026
Customer demand for data continues to grow in the first quarter of 2026 at Magya...
HIGHLIGHTS:
