Kudelski Group (KDCXF.PK) reported that its net loss attributable to equity holders of the company for the first half of 2025 widened to $34.24 million or $0.6104 per bearer share from $20.42 million or $0.3644 per bearer share in the previous year.
Net revenues for the period were $172.8 million, a decrease of 6.8% compared to the first half of 2024. In constant currency terms, net revenues decreased by 7.7%. Total revenues and other operating income for the period declined to $174.48 million from $191.56 million in the previous year.
For the second half of 2025, the company expects a stronger revenue trajectory supported by seasonality in Core Digital Security, continued conversion of Managed Detection and Response and advisory pipelines in Cybersecurity, and increasing sales from third-party channels in IoT.
For the full year 2025, the company projects positive two digit million EBITDA in Core Digital Security consistent with the restated 2024 level. Cybersecurity near term EBITDA will be affected by ongoing investments, translating in a higher full year loss compared to 2024. IoT's full year EBITDA loss is expected to be roughly in line with 2024 as the segment continues to invest in distribution channels.
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