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March 4, 2009
The Kudelski Group, owner of Nagravision, has announced its 2008 annual results. It says the introduction of new generation security solutions at several Digital TV accounts together with the migration of some of the Group's largest accounts to the service model had a strong effect upon the Group 2008 results. In 2008, the Group delivered over 25 million smart cards for customers migrated to the service model.
As anticipated, this change in model affected the profitability of the Digital TV business. On the other hand, both the Public Access and the Middleware and Advertising segments continued to deliver on their positive momentum maintaining a healthy contribution margin in a challenging economic environment. Total revenues reached CHF 1.037 billion (E0.69bn).
Meanwhile, Kudelski Group has made a non-binding offer of E100m to buy the share of Open TV it doesn't own and make it a subsidiary. It says
this transaction would provide better integrated industry-leading end-to-end solutions and services to the customers.