The Kudelski Group, a provider of media content protection and value-added service technology, has published its 2015 half year results.
The Group grew its consolidated revenues and operating income in spite of significant exchange rate volatility. The Group expanded its distribution capabilities in the Public Access segment and continued to optimize its Integrated Digital TV (iDTV) activities.
Revenues and other operating income for the first half increased by CHF 24.9 million (€23.1m) to CHF 425 million. First half 2015 constant currency revenues increased by 10.4 per cent over the same period in 2014, primarily driven by the 24.2 per cent constant currency growth of the Public Access segment. The Group generated operating income of CHF 30.4 million, representing a 9.7 per cent improvement compared to the same period of 2014 in spite of negative currency effects. Net income improved from CHF 0.6 million to CHF 9.8 million.
Compared to the strong first half 2014, which was supported by the one-time licensing revenues from the Cisco patent licensing agreement, integrated Digital TV segment (iDTV) constant currency revenues for the first half 2015 grew by 6.8 per cent, benefitting in particular from the underlying growth of the core digital TV business, to CHF 324.4 million. Operating income for the segment improved by 17.9 per cent, reaching CHF 52.6 million.
Public Access posted a strong 24.2 per cent revenue increase in constant currency, reaching CHF 91.7 million for the first half 2015. Segment’s operating income for this first half was CHF 6.1 million lower compared to the previous first half, as SKIDATA expanded its operations to support the expected growth acceleration. SKIDATA entered the second half with a backlog of EUR 36 million higher compared to end of June 2014. Such backlog is expected to support the growth momentum in the second half 2015 and result in a recovering full year profitability.