Kudelski in the red in the first half of the year

Following the sale of the access control business Skidata almost a year ago, the Group is in a state of upheaval. Growth and cost savings should lead back to success.

From January to June, turnover from continuing operations, i.e. excluding Skidata, fell by 8.9 percent to 174.5 million US dollars, as Kudelski announced on Tuesday. The operating loss before depreciation and amortization (EBITDA) amounted to 19.1 million dollars after a loss of 11.7 million in the previous year.

At EBIT level, the loss amounted to 24.8 million dollars, compared to 30.3 million dollars previously. The restructuring announced in February led to costs of 6.4 million dollars, according to the statement. The bottom line was a net loss of 32.9 million dollars after a loss of 36.9 million in the previous year.

Accelerating growth

In the second half of the year, Kudelski expects a stronger sales trend than in the first half. At the same time, operating costs should be further reduced and profitability improved thanks to the restructuring efforts, it said. As part of the reorganization, the Group had announced the reduction of around 160 jobs.

According to the information provided, the efforts in the Core Digital Security division, where the digital television business has been bundled, should lead to a positive EBITDA in the double-digit million range for the year as a whole. Meanwhile, investments are being made in the cyber security segment and the Internet of Things (IoT) and negative results are still expected.