2024 Half Year Results: Kudelski Group to Divest SKIDATA and Focus on Core Businesses

Kudelski Group announced significant changes in its first half of 2024 results. The company will divest SKIDATA to concentrate on its core sectors: Digital Television, Cybersecurity, and Internet of Things (IoT). This strategic shift aims to streamline operations and enhance financial stability.

Post-transaction, Kudelski Group will fully repay its outstanding CHF 145.9 million bond, achieving a net cash position close to USD 100 million. Group revenues for continuing activities reached USD 198.2 million, with Digital Television facing a 7.4% revenue decline to USD 109.8 million.

Cybersecurity remained stable with USD 58.6 million in revenues, and the IoT segment demonstrated robust growth, with revenues up 66.8% to USD 23.6 million, driven mainly by the success of the RecovR asset tracking solution.

Overall Group EBITDA for the first half was - USD 11.7 million, reflecting the transitions and investments in its core businesses. Digital Television focused on enhancing security solutions, while Cybersecurity launched the new MDR ONE Resolute service, gaining over 50 clients in its initial period.