Kudelski Group reports Q2

The Kudelski Group owner of Nagravision and major shareholder in Open TV, has released its half year 2009 results. During this period, the Group says it started to reap the fruits of the migration of a significant share of its digital TV conditional access deployed base to the service model. In 2008, the Group delivered over 25 million new generation upgrade smartcards to key operators including Dish (Echostar), Bell and Sogecable. In the first months of this year, the migration was completed. Moreover, since June of this year, the cards deployed at Echostar started to yield the full monthly service fee.

Total revenues are 7 per cent higher than in the first half of 2008, reaching CHF 454 million (E299m). With an operating income of CHF 8.5 million, the Group reversed the loss of last year's period, improving its operating margin by CHF 27 million.

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