Kudelski Group 2014 Annual Results

Cheseaux, Switzerland – February 19, 2015 – The Kudelski Group (SIX: KUD.S), the world’s leading provider of media content protection and value-added service technology, announced today its 2014 annual results.

Total annual revenues and other operating income reached CHF 895.1 million in 2014, representing a 7.1% growth compared to the previous year. The Group reported operating income of CHF 68.1 million, representing growth of 24.9%. Net income from continuing operations improved from CHF 39.4 million to CHF 50.4 million.

In 2014, the Group generated CHF 109.3 million of cash from operating activities. Continued tight management of capital expenditures enabled the Group to support its strong cash generation, with cash used for purchasing tangible and intangible assets representing less than CHF 30 million in 2014.

CONAX ACQUISITION
In 2014, the Group embarked upon a fundamental restructuring of its business portfolio, realigning and further strengthening its position in the digital TV markets. With the acquisition of Norway-based Conax in April, the Group added to its portfolio a highly efficient provider of standardized, cost-effective content security solutions for telco, cable, satellite, IP, mobile and terrestrial operators optimized for entry-level markets. This acquisition further strengthens the Group’s emerging market footprint. The Conax integration is fully on track, already enabling complementary brand positioning globally that provides the basis for both technology synergies as well as cross-selling opportunities for products like OpenTV5 connectware, MediaLive multiscreen solutions and SmarDTV devices.

*Link to entire press release from Kudelski Group: http://www.nagra.com/media-center/press-releases/2014-annual-results

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