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Kudelski sees growth in digital TV business

Conditional access and interactive TV specialist Kudelski reported solid first half results, with the digital TV segment performing particularly well. The company said Nagravision’s technologies are currently being used by more than 120 pay-TV operators, securing content delivered to over 133 million active smart cards and devices.

Total revenues for the six months ending June 30 were CHF517m (€393m), up 13.9% year-on-year. Since transitioning to a new service-based model in 2008, the company’s digital TV unit is proving profitable. In Europe, revenues increased by 20.8%, corresponding to a 29.9% growth in constant currency, to reach CHF202.9m.

Kudelski’s Italian business performed particularly well, benefiting both from the continued growth of Mediaset Premium cards as well as the further increase of SmarDTV common interface module sales. 

The company said it had ramped up investment in next generation middleware solutions leading to a 6% increase in revenues. However, the cost of increased R&D led to operating margins decreasing by CHF11.4m resulting in an operating loss of CHF6m.