As expected, the first half of 2010 marked the return of the more typical seasonality 
pattern of the business and thus the revenue remained at a lower level of US$ 141 
million, compared to US$ 183 million for the same period last year when the revenue 
distribution was unusually even. This revenue development was caused primarily by three 
factors: large customers returning to normal seasonality pattern, component shortage, 
and a slight delay in introducing new products to the market. All this pushed certain 
amount ofsales from first half to the second half.

Gross profit amounted to US$ 49.0 million, or 34.7% of revenue, which is within 
management’s long-term expectations and in the upper range for this industry. The 2010 
first half Earnings Before Interest and axes amounted to US$ 3.7 million or 2.6% of 
revenue, compared to US$ 12.4 million for the same period
in 2009. This is a direct result of lower revenue and gross margin levels, which were 
successfully compensated by business model scalability and strict cost control. Earnings 
per share were US$ 0.50. The Group closed the semester with a strong net cash position 
of US$ 44.4 million and with a gross cash position totaling US$ 75.0 million, after 
repurchasing shares for US$ 8.3 million.

During the first half of 2010, the Group invested significantly in developing and 
launching new products. Some 12% of the period revenue was already generated by new 
products, and more is scheduled for the latter part of the year. By the end of the year, 
the Group will have an entirely renewed product portfolio, delivering unprecedented 
performance and features, such as highly acclaimed Carbo User Interface (including its 
3D version), WiFi-enabled hybrid satellite PVR products and its next generation DVR-
Lite™ connected Set-Back Box.

Outlook for 2010
The Group has carefully reviewed the outlook for 2010, in particular the component 
shortage situation, which is now expected to stretch well into 2011. This situation 
limits upside opportunities while creating a higher than normal level of risk. The order 
pipeline is solid and the demand remains strong. Thus, the Group sharpens the guidance 
for the full year as follows:
· Revenue growth around 10% for the full year 2010
· EBIT percentage around mid single digits

Business overview
The early part of the year was particularly strong for the satellite business, due to 
the demand in both Eastern and Western Europe. Satellite segment increased to a record 
level of 32% of the Group revenue, compared to 29% in 2009. The IPTV segment enjoyed a 
growth spur as well, bouncing back to 27% of the Group revenue from the last year’s 19%. 
Cable business declined temporarily, accounting for 29% of the Group revenue, compared 
to 39% in 2009. Terrestrial business in terms of Group revenue stayed stable at
11% compared to 12% in 2009. It needs to be noted that the products sold to retailers 
include both terrestrial and satellite products of the Group.

The Group’s positioning on high-end products remains widely unchanged. High-Definition 
TV products accounted for 74% of product sales revenue, and Personal Video Recorders 
(both high and standard definition) represented 52% of the revenue. The sales of our 
hybrid products represented 62% of the product sales, reflecting the demand from retail 
product line which is only starting to benefit from hybrid capabilities. As a total, the 
high-end products constituted 84% of the Group overall product sales, in line
with the 85% of full year 2009.

The Group opened three strategically important new markets during the first half of 
2010: UK Freeview HD market with embedded BBC iPlayer, and the expansion of our Eastern 
European presence to Bulgaria with CableTel. Furthermore, during the first half of this 
year the Group also established its presence in India with two cable customers already 
won, and in Indonesia with one new customer win. ADB will deliver a full solution to 
these customers, including head-end technology, MHP middleware, set-top boxes
and Carbo UI. The IPTV business expanded to Caribbean Islands with a new customer 
Telecommunications Service of Trinidad and Tobago.

Geographically, Western Europe brought the majority of the Group revenue with 54% 
contribution, (56% in 2009). Eastern Europe accounted for 23% of the Group revenue, 
whilst Middle East and Africa grew to 16% of the revenue. Americas brought in 5% and 
Asia Pacific 2%. The top ten customers amounted to a total of 89% of the revenue, which 
is comparable to the previous years.

Dividend distribution
In June 2010, the Annual General Meeting of the Shareholders approved the Board’s 
recommendation to pay the first dividend in the history of ADB Group for a total gross 
amount of CHF 3.00 per share. The dividend was paid out on 15 July 2010.

Conference call
ADB Group management will hold a telephone conference to discuss the 2009 financial 
results and outlook for the year 2010, today, at 15.00 CET.
To connect to the conference call, participants should dial the following number: +41 
(0) 44 580 64 03 During the presentation, please press "01" on your telephone keypad if 
you wish to ask a question.

Contact
Tina Nyfors
Executive Vice President
Corporate Development
Tel: +41 22 592 8433
Fax: +41 22 592 8432
t.nyfors@adbglobal.com

A pioneer of digital TV founded in 1995, ADB Group focuses on solutions for 
advanced digital television. It aims at building a group of operating companies 
that cover the full range of technologies and solutions required to view and 
interact with digital television carried over any broadcast network type: cable, 
terrestrial, satellite, IP. The Group is constantly expanding its technology and 
product portfolio to cover the full set of solutions required by this high-tech, 
fast growing industry. 

The Group operates in three principal business segments:

Digital TV Equipment: design, manufacture, marketing and sale of consumer 
premises equipment, including set-top boxes and integrated TV modules. This 
segment operates essentially under the Group's ADB and i-CAN brands, and has 
shipped over 8 million STB units since inception

Software and Services: software products, middleware licensing, development 
tools, and services including testing, integration and other services. This 
segment operates essentially under the Group's Osmosys and Vidiom Systems brands.

New Initiatives: interactive applications, new media, content and services. This 
segment operates essentially under the Group's Simple and tele.DOM brands.

Thanks to its fast growth, ADB Group was awarded as one of the 500 fastest 
growing European company by Europe's 500 – Entrepreneurs for growth