Kudelski 2014 lifted by Conax
February 19, 2015
TV technology provider Kudelski has revealed solid full-year results, with revenue growing 7.1 per cent to CHF895.1 million and operating income growing by a quarter to CHF68.1 million. Net profit rose from CHF39.4 million to CHF50.4 million.
Kudelski said that the appreciation of the Swiss franc will have “a materially negative impact” on its 2015 revenue and operating income as the vast majority – 90 per cent – of its revenues are dollar or euro-denominated, while 25 per cent of its costs are in Swiss francs. The company said it had initiated measures to mitigate the currency impact, and that the 2015 figures would be boosted by the acquisition of Conax. It expects revenues for the year to be between CHF845-875 million and operating income to be in the region of CHF50-65 million.
Highlights of 2014 for the Switzerland-based content security and interactive TV specialist included the acquisition of Conax from Telenor, the signing of a patent cross-licensing agreement with Cisco and the dismissal of patent litigation with Netflix and a commercial deal with the subscription video-on-demand giant.