Digital TV was the main driver for the Kudelski Group in 2010, boosting its total revenues and other operating income by 7.6% at constant currencies.
The Digital TV division posted a very strong H1, with constant currency growth of over 20%, while for the year as a whole its revenues rose by 6.8%.
Digital TV income in 2010 rose from CHF67.5 million (€52.6 million) to CHF129.5 million (+91.8%), with the operating margin being 18.9%.
On the other hand, following the completion of the acquisition of OpenTV at the beginning of 2010, the company began a turnaround plan that saw an increase in R&D investments to accelerate the deployment of the next generation Group middleware solution.
This resulted in an operating loss of CHF6 million in H1, reduced to CHF0.4 million in the second half of the year.
Kudelski voices concerns in its outlook about continued currency fluctuations, and in particular depreciation of the euro and dollar against the Swiss franc. If they persist for the remainder of this year, the group would report declining total revenues in 2011.
Kudelski has decided to focus on emerging markets in the digital TV segment, while in middleware and advertising the results of restructuring its roadmap should be fully seen in 2012.
It has also launched a targeted cost reduction programme in the Public Access segment.
