ADB announces 1H09 results; Provides DTT STB to IkusiThursday, August 6th, 2009
GENEVA — Advanced Digital Broadcast Holdings S.A. (SIX: ADBN) reported today its unaudited consolidated financial results for the first-half of 2009.
Revenue for the first-half of 2009 was US$ 183.2 million, increasing 7.8% from the same period in 2008. The main drivers for growth were strong demand from cable and satellite segment, mostly in Europe.
Digital TV Equipment segment
The Digital TV Equipment segment continues to be the main contributor to the Group performance. It yielded US$ 180.0 million of revenue during the first-half of 2009, and had a positive Earnings Before Interest and Taxes of US$ 13.3 million, or 7.4% of the revenue.
An important driver for the Group revenue is the composition of the product mix which continued evolving favorably during the first-half of the year. High-definition products contributed 82% of the entire mix, compared to 70% in the first-half of 2008 and 75% in the full-year 2008. Personal Video Recorders (PVRs), both standard and high definition, represented 63% of the product mix, compared to 31% in the first-half 2008 and 41% of the full-year 2008.
Hybrid technology continued to gain momentum with pay-TV operators. Hybrid technology provides the pay-TV operators the opportunity of providing a wide area of new services, and enables the operators to utilize their broadcasting network in new ways. This has become an important factor for the Group revenue, as during the first-half of 2009 hybrid products contributed 78% of the product sales revenue. All in all, all advanced products accounted for 87% of the Group Digital TV equipment product sales revenue during the first-half of 2009.
The main driver for the first-half 2009 growth was the strong demand from the cable segment, this area representing 50% of the Group revenue. The satellite segment enjoyed a growth spur as well, accounting to 22% of the Group revenue for the period. Terrestrial segment held back somewhat during the first-half of the year, representing 10% of the revenue. IPTV segment accounted for 15% of the Group revenue for the period.
The Group also announced today that it will deliver its ADB-1100T digital terrestrial set-top box to Spanish company, Ikusi. The deal marks a milestone for both companies as it will be the very first product launched in the Spanish market for DTT pay services and will thus set the standard to follow for this market.
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