Kudelski posts solid results, expects currency 2015 hit

TV technology provider Kudelski has posted solid full-year results, with revenue growing 7.1% to CHF895.1 million (€836.8 million) and operating income growing by a quarter to CHF68.1 million. Net profit also grew from CHF39.4 million to CHF50.4 million.

Kudelski said that the appreciation of the Swiss franc will have “a materially negative impact” on its 2015 revenue and operating income as the vast majority – 90% – of its revenues are dollar or euro-denominated, while 25% of its costs are in Swiss francs. The company said it had initiated measures to mitigate the currency impact, and that the 2015 figures would be boosted by the acquisition of Conax. It expects revenues for tye year to in the range of CHF845-875 million and operating income to be in the range of CHF50-65 million.

Highlights of 2014 for the Switzerland-based content security and interactive TV specialist included the acquisition of Conax from Telenor, the signing of a patent cross-licensing agreement with Cisco and the dismissal of patent litigation with Netflix and a commercial deal with the subscription video-on-demand giant.