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 ...

09/10/2026

Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026

September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026 New Sports Intelligence helps providers better unders...

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...

22/09/2026

Young Journalist Award 2026: Meet the Final 12

From Malaysia to Mexico and from DR Congo to Ukraine, this year's 12 finalists for the 2026 Thomson Foundation Young Journalist of the Year award tell extra...

22/09/2026

ESPN, Precision Lasers Light Up NHL Player Media Tour in Las Vegas

The annual preseason content-gathering event brought 36 NHL players to Las Vegas, where ESPN used 2.5 kilowatts of laser power and a motion-control camera syste...

22/09/2026

Neumann Introduces KK 104 A and KK 105 A Wireless Capsule Heads

Neumann has introduced the KK 104 A (cardioid) and KK 105 A (supercardioid) wireless capsule heads, succeeding the KK 204 and KK 205. The new capsules are compa...

22/09/2026

NFL and TMRW Sports Announce Pro Flag Showcase During Super Bowl LXI Week

The NFL and TMRW Sports have announced a new annual Pro Flag Showcase to be held during Super Bowl LXI week in Los Angeles. The event will feature top flag foot...

22/09/2026

Washington State University Unveils New Daktronics Video Board and Audio System at Gesa Field

Washington State University has unveiled a new end zone video display and audio ...

22/09/2026

SVG Sit-Down: Disney's Dave Johnson on ESPN's New 4K HDR Distribution Pipeline and What It Means for Super Bowl LXI and Beyond

Disney's SVP of Live Operations and Engineering details the technology behin...

22/09/2026

Cosm Promotes Mazen Alawar to SVP of Marketing, Alexis Scalice to VP of Cosm Studios

Cosm has announced two senior promotions. Mazen Alawar has been promoted to SVP,...

22/09/2026

Mississippi State University Extends Camera Relationship with KOKUSAI DENKI

Mississippi State University's University Television Center has purchased four KOKUSAI DENKI SK-UHD7000-S2 cameras since 2024, with plans to add two more, a...

22/09/2026

Net Insight Appoints Christine Kjellvard as Interim CFO

Net Insight has announced that Christine Kjellvard will assume the role of interim Chief Financial Officer on November 1, 2026. Kjellvard has previously held in...

22/09/2026

Net Insight Launches Zyntai TimeNode Access PTP Grandmaster for Edge Sites

Net Insight has announced Zyntai TimeNode Access, a compact PTP Grandmaster designed for distributed edge sites. The product carries secure, precise time across...

22/09/2026

The Weight Explores the High Cost of Freedom in the Depression Era

Sam Hazeldine, Austin Amelio, Padraic McKinley, Julia Jones, and Ethan Hawke attend the premiere of The Weight at The Ray Theatre on January 26, 2026, in Park...

22/09/2026

Avalanche Tones introduce Noise Suite

Second high-gain tone plug-in released Following on from their debut release, Chainsaw Suite, Avalanche Tones have announced the launch of their second plug...

22/09/2026

LW6 wireless headphones from Lewitt Audio

Uncompressed audio with below 6ms of latency Lewitt's have just introduced their first pair of headphones which, despite being aimed primarily at studio...

22/09/2026

Neumann launch the KK 104 A & KK 105 A

Two new capsule heads for Sennheiser wireless systems Neumann have announced the upcoming launch of the KK 104 A and KK 105 A, a pair of new premium condens...

22/09/2026

Apogee Plugins Are Moving to Plugin Alliance

Apogee Plugins Are Moving to Plugin Alliance We're excited to share an important update about the future of Apogee plugins. Apogee plugins are moving to Pl...

22/09/2026

SipRadius honored with a Technology And Engineering Emmy...

Parkland, Florida, US, September 22, 2026: SipRadius, widely recognized for making content processing and connectivity secure and seamless, has been honored wit...

22/09/2026

VanityFilter 3.1.5 adds project files and adjustable protection around lips, brows and ears

VanityFilter 3.1.5 adds project files and adjustable protection around lips, bro...

22/09/2026

Chile's TV+ Modernizes Broadcast Operations with Blackmagic Design

Chile's TV Modernizes Broadcast Operations with Blackmagic Design Brie Clayton September 22, 2026 0 Comments URSA Broadcast G2 brings versatility...

22/09/2026

OWC Shares Sneak Peek at Amazon Prime Big Deal Days Pricing

OWC Shares Sneak Peek at Amazon Prime Big Deal Days Pricing Brie Clayton September 22, 2026 0 Comments Image courtesy of Deposit Photos Business and ...

22/09/2026

Berklee's First Homecoming Block Party Brings Alumni Home for Global Music Festival

Berklee's First Homecoming Block Party Brings Alumni Home for Global Music F...

22/09/2026

New TVU Pocket Offers Broadcast Features In Phone-Sized Unit

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

Operative Launches Unified Platform for Advertising and Broadcast Management

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

Element Launches New TiVo-Powered Smart TVs in the U.S.

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

NOAA Taps Tomorrow.io for Improved U.S. Weather Forecasts

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

Gray Media Promotes Tim Maloney to GM and Director of Sales at WBKO

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

Reports: Paramount Reaches Settlement with State AGs in Antitrust Suit

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

New Research Lays Out Streaming Services Best Defense Against Churn

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

Sinclair Expands The National News Desk

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

Paramount Settles Antitrust Lawsuit over WBD Merger

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

U.S. Broadband Industry Investment Hits $92.6 Billion

Share Copy link Facebook X Linkedin Bluesky Email...

22/09/2026

Sky commissions Tupac murder trial documentary from Passion Pictures & Propagate Content

From Academy Award-winning Passion Pictures and BAFTA-winning director Marian Mo...

22/09/2026

Wi-Fi, phones and power lines: understanding EMF exposure

Whether it be from the sun or from our phones and other devices, we are all exposed to electromagnetic radiation in some shape or form. With the dramatic growth...

22/09/2026

Comscore's latest AI Intelligence Report Shows Competition Intensifying as Claude and Gemini Gain Ground on ChatGPT

Comscore's latest AI Intelligence Report Shows Competition Intensifying as C...

22/09/2026

The Factory-X Project Sets Standards for Data Sovereignty in Industry

The Factory-X Project Sets Standards for Data Sovereignty in Industry Arvato Systems Brings Digital Sovereignty to Industrial Practice Factory-X Successfully...

22/09/2026

Apple opens Apple Music Hall, a\u00A0state-of-the-art live music venue in London - PRESS RELEASE - Posted on 21 September 2026

LONDON Apple today announced the opening of Apple Music Hall, a brand-new state-...

22/09/2026

Young creativity across the island of Ireland takes centre stage as sixth RT This is Art! competition launches

RT , Creative Ireland and Shared Island Initiative ask young artists to respon...

22/09/2026

NVIDIA Isaac ROS 5.0 Advances Agentic, Open Source Robotics Development

To build and deploy sophisticated robotics applications that can perceive, reason and act in dynamic environments, developers need new physical AI models and to...

21/09/2026

Manifold Taps Ryhaan Williams for North America COO Post

Manifold Technologies, developer of software-defined, FPGA-accelerated infrastructure for live production, has named Ryhaan Williams as Chief Commercial Officer...

21/09/2026

SNS Wins IAMT Best Journal Article Award

Studio Network Solutions (SNS) has won Best Journal Article at the 2026 IAMT Impact Awards for What Video Editors Need When Everything Is Changing Around Them,...

21/09/2026

MLW Announces Streaming Deal with Tubi for Weekly FUSION Series

Major League Wrestling (MLW) has announced a streaming distribution agreement with Tubi for its weekly series MLW FUSION. Beginning September 17, new episodes w...

21/09/2026

Adam Smith Named Chairman of Direct-to-Consumer at Disney Entertainment

Disney Entertainment has announced that Adam Smith has been named Chairman, Direct-to-Consumer, with responsibility for Disney and Hulu including product, engi...

21/09/2026

United Airlines and DISH to Offer Live Football on Starlink-Enabled Seatback Screens

United Airlines and DISH have announced an agreement to bring live professional ...

21/09/2026

SES to Provide Satellite Distribution for JioStar Channels Across India

SES and JioStar have announced a multi-year agreement under which SES will provide satellite distribution services for JioStar's television channel portfoli...

21/09/2026

Detroit Red Wings Announce Detroit SportsNet Broadcast Details for 2026-27 Season

The Detroit Red Wings have announced details for their inaugural season on Detro...

21/09/2026

Manifold Technologies Appoints Ryhaan Williams as CCO for North America

Manifold Technologies has appointed Ryhaan Williams as Chief Commercial Officer for North America, effective October 1, 2026. Based in Jacksonville, Florida, Wi...

21/09/2026

DAZN Pick Up L.A. Kings DTC Streaming Rights; ABTV Will Continue as Local TV Home

Angels Broadcast Television (ABTV), the local television home of the Los Angeles...