Euro markets pull on Nagravision
August 21, 2012 09.23 Europe/London By Julian Clover

Europeís weak economic environment toyed with Nagravisionís digital TV business, as between them Italy, Spain, France and Portugal lost CHF25.4 million (Ä21.15 million) compared to the first half of 2011.

In all the European Digital TV business generated CHF133.3 million.

This was in contrast to a US business that posted 3.3% constant currency growth, reaching CHF115.4 million in the first half and Asian segment revenues amounting to CHF53.8 million, roughly at the same level of the previous first half.

The emerging markets of Latin America and Brazil continue to sustain Nagravisionís digital TV business. In June, Entel, a large telecom provider in Chile, launched a solution based on Nagra advanced security solution.

Nagraís internet TV business has now been rolled into a single product unit. Italyís Mediaset has subscribed to the Content Delivery Service provided by Nagravision as part of its Multiscreen Cloud Service.

Other leading customers such as Prisa TV and Abertis are deploying a Nagravision-based OTT (Over-the-Top) platform. Prisa TV has reached an installed base of 250,000 Nagravision-powered OTT HD devices providing top-flight football.

Abertis is currently offering a joint cloud-based service aimed at pay-TV service providers. Production trials with eight European broadcasters are currently underway.

The Group reported a CHF2.1 million operating loss for the first half. Net of restructuring costs, the Group posted a CHF17.7 million operating income. The net loss for the period was at CHF9.0 million, representing a CHF2.5 million improvement from the prior first half.