Conax boosts Kudelski performance

The Kudelski Group has posted revenues of CHF895.1 million (€836.8 million) for 2014, a 7.1% increase on the previous year.

Its operating income and net incomes amounted to CHF68.1 million (+24.9%) and CHF50.4 million (+27.9%) respectively.

In its latest set of results, the group notes that the acquisition of Conax, the integration of which is fully on track, has provided both technology synergies as well as cross-selling opportunities for products like OpenTV5 connectware, Media Live multiscreen solutions and SmartDTV devices.

The group’s Integrated Digital TV (iDTV) revenues increased by 9.8% to CHF648.4 million in 2014, representing a 10.2% constant currency growth.

The European iDTV sector posted constant currency growth of 3.1%, while Southern European markets, including Italy, Spain and Portugal, started to recover following the decline of the previous years, increasing their revenue contribution from 2013.

With the addition of Conax, the group significantly strengthened its position in Scandinavia and in some key Eastern European markets.

However, the group’s Northern European markets experienced lower growth compared to the previous year, with the UK, Germany, France and the Netherlands posting lower 2014 revenues.
The Americas region generated constant currency growth of 12.5%, with revenues reaching CHF274.7 million in 2014, while the Asia/Pacific and Africa region posted constant currency growth of 19.1%, reflecting strong momentum in the second half of the year.

Overall, operating income from the iDTV segment improved by 25.8%, reaching CHF71.8 million in 2014.