Kudelski Group / Key word(s): Half Year Results 2023 HALF YEAR RESULTS 24-Aug-2023 / 07:09 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible
Cheseaux-sur-Lausanne, Switzerland and Phoenix , USA - August 24th, 2023 - The Kudelski Group , the world leader in digital security, announced today its results for the first half of 2023.
The strong momentum of the Group's IoT segment drove impressive revenue growth of 96.3% compared to the previous year. In the first half 2023, IoT generated USD 14.1 million of revenues, compared to USD 7.2 million in the first half 2022 and reduced its operating loss before depreciation and amortization by USD 0.5 million to USD 9.0 million.
Throughout the first half of the year, Kudelski Security sustained its growth trajectory within pivotal sectors such as critical infrastructure, manufacturing and pharmaceutical. Additionally, a significant milestone was achieved through the establishment of a strategic partnership with Hunters.ai.
In addition, keySTREAM, the Group's end-to-end IoT security platform, is gaining traction in the market through partnerships with semiconductor companies to provide provisioning services for their customers. IoT Security Labs is expected to gain momentum during the second part of the year, as global regulation for strengthening IoT security continues to increase.Public Access achieved robust performance in the first half 2023, notably highlighted by a 14.5% increase in net revenue.
In addition, the mountain destination of Kitzbühel in Austria successfully rolled out the SKIDATA Smartphone Ski Pass across its entire resort. With this trendsetting solution, SKIDATA began its global launch of the more than 60 Smartphone Ski Pass projects expected to be executed in 2023.
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