Weak economy hits Nagra’s European business

Nagravision saw first half revenues decline in the first half of the year to CHF380.3 million (€317 million), down 3% year-on-year.

The TV technology company said weak economic conditions affected its European digital TV business, which generated revenues of CHF133.3 million.  Revenues from Italy, Spain, France and Portugal declined by CHF25.4 million compared to the first half of last year.

Nagra’s American business posted a 3.3% constant currency growth, reaching CHF115.4 million in the first half. Asian segment revenues amount to CHF53.8 million, roughly at the same level of the previous first half.