The Kudelski Group has provided a business update summarising key developments in the first half of 2018.
The update says that the group’s transformation continues in line with the previously announced shift of revenues from legacy digital TV to new growth initiatives. In H1, it aligned its digital TV operations “with the new market realities”.
It adds that Nagra and Conax are now integrated, with the former focussing on “tailor-made solutions and complex integration projects for larger operators and the latter on lean, off-the-shelf standard solutions”.
Globally, Kudelski further streamlined its operations in H1, with significant efficiencies realised in China, France, Norway, the US and Switzerland.
The group’s activities are also increasingly expanding out of traditional pay-TV into cybersecurity and Internet of Things (IoT) security, addressing increasing market demand.
In addition to its strong US footprint, Kudelski Security is gaining traction in Europe as well. In light of the increased demand for cybersecurity services, the group has opened a new office in Zurich, to better serve the Swiss German, Austrian and German markets, and established additional partnership with key players in the industry.
In IoT, an emerging high potential market for Kudelski, the group continues to invest heavily in establishing its security platform ecosystem.
Kudelski notes it had an operating loss and a net loss in line with expectations in H1.
It also confirms its 2018 full-year guidance, with an operating income of €30-45 million before restructuring costs.
