Kudelski’s Integrated Digital TV unit (iDTV) had revenues of CHF641.3 million (€527.7 million) in 2012, down by CHF21.3 million (-5.7%) on the previous year.
European sales were hit by the market downturn and weak consumer sentiment, slumping by 13.8% in 2012 to CHF268.2 million.
Southern European markets were particularly hit, with aggregate revenues from France, Italy, Spain and Portugal declining by CHF34.4 million last year.
However, this was to some degree offset by developments in Germany, where the number of satellite households rose by 3% last year to 18.1 million and SES switched off analogue broadcasting in April 2012.
Growth was seen in the group’s America’s region, fuelled by Brazil, with revenues rising by 6.5% in 2012 (1.6% in constant currency) to CHF246.8 million in 2012.
Asia/Pacific and Africa region revenues meanwhile grew by 4.6%, or 1.1% in constant currency, in 2012, with India and Africa being strong contributors in the first and second halves respectively.
Significantly, operating income in the iDTV unit recovered in 2012, growing by CHF12.7 million to CHF43.8 million.
The iDTV unit was formed by the merger of Kudelski’s former Digital TV and Middleware & Advertising Activities, announced on October 31, 2011.
The group as a whole had an operating income of CHF35.7 million in 2012, or CHF10.3 million than the previous year, while a loss of CHF17.7 million was transformed into a net income of CHF16.1 million.
This was despite a CHF29.8 million decrease in revenue and a CHF6.5 million reduction of other operating income.
