2023-08-24 12:57:00
Kudelski saw its operating result in negative territory in the first half of 2023, despite an increase in turnover. Sales of the digital television division contracted. The group confirms its gross operating profit target.
Over the first six months of the year, turnover increased by 1.9% to 339.9 million dollars, wrote the Vaudois group on Thursday in a press release. At the same time, operating profit (Ebitda) fell into negative territory at -3.5 million, compared to +0.5 million in the first half of the 2022 financial year.
If the turnover is in line with analysts’ expectations, the operating result is clearly below projections.
Revenues from the digital television business, a pillar of profitability, fell 17.9%, due to lower-than-expected sales, mainly in Europe. That of the access control activity, on the other hand, increased by 14.5%. As for the cybersecurity and internet of things divisions, historically loss-making and smaller in size but set to gain in importance, they are posting growth rates of 15% and almost 100% respectively.
In terms of outlook, André Kudelski, Chairman of the Board of Directors and Managing Director, confirmed to the AWP agency that the EBITDA objective of between 40 and 60 million dollars for the current financial year was still valid. . The group anticipates a rebound in sales of the digital television division in the second half, but below the level of the second half of 2022.
EBITDA should be better than in the first six months of the year. For the access control division, EBITDA is expected to rise compared to the previous year.
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