ADB Group Reports Solid Financial Results for First Half of 2009

Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
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* First-half year revenue growth: +7.8% over first-half 2008
* EBIT reaching 6.8% of revenue, +11.5% over first-half 2008
* EPS at 1.63$, +29.4% over both first and second-half 2008
* Strong demand from cable and satellite pay TV operators
* High-definition at 82%, Personal Video Recorders at 63% and hybrid at 78% of
the product mix
* Launching the very first product for Spanish DTT pay-TV services
* Nominated for three prestigious industry awards
* Guidance confirmed for full-year 2009

Geneva - 6 August 2009

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. Gross profit increased to US$ 68.6 million,
and gross margin reached 37.4% of revenue. This represents a return to more typical
gross margin levels compared to the year before, and the development was according
to the Group expectations. Operating expenses, including the costs for research and
development, accounted for US$ 53.5 million in the first-half of 2009, representing
a decrease of 10.1% year-on-year. Largest contributors to this development were
greater operational efficiencies and cost control, combined with a favorable
foreign exchange rate environment. Earnings Before Interest and Taxes rose to US$
12.4 million or 6.8% of revenue during the first-half of 2009, compared to US$ 11.1
million or 6.5% of revenue for the same period in 2008, representing an increase of
11.5% year-on-year. Earnings per share were US$ 1.63, up from US$ 1.26 a year
before, accounting for an increase of 29.4% year-on-year.

The Group net cash generation from operating activities during the first-half of
2009 exceeded
US$ 20 million. As a result, the Group had a net cash position of US$ 58.3 million
at the end of June, more than double compared to US$ 28.3 million at the end of
June 2008. Total cash and cash reserves amounted to US$ 82.9 million, compared to
US$ 67.7 million a year before and US$ 71.0 million at the end of the year 2008.

Mr. Andrew Rybicki, Chairman and CEO of ADB Group, commented: "I am pleased with
our overall results during the first half of 2009. At the beginning of this year,
there was a great deal of uncertainty with the overall macroeconomic situation. We
were convinced that our business was resilient, but given the circumstances it was
difficult to quantify this precisely. The first half of this year has justified our
view. I am particularly pleased to note the vigilance to costs and operational
efficiency which our staff is exercising, and for which I want to give full credit
to them. This is an excellent starting point for the second half of 2009."

Outlook for 2009

ADB Group regards the second-half of 2009 with reasonable confidence. The Group
confirms its full-year guidance for 2009 as stated in February: revenue is expected
to continue growing in 2009, gross margin is likely to come in line with the Group
long-term strategy and expectations, and the Group expects to maintain an
acceptable level of profitability.

Business segment performance

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 was delighted to receive a record three nomination for IBC 2009 industry
awards by Cable & Satellite International in the following categories:

* Best customer premise technology
* Best terrestrial wireless contribution/distribution/transmission solution
* Best interactive TV technology or application

The Group also announced today that it will deliver its 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.

Software and Services segment

Software and Services recorded revenue of US$ 6.9 million, out of which US$ 3.2
million were intergroup sales. This segment recorded a Loss Before Interest and
Taxes of US$ 0.7 million after an exceptional non-cash charge of US$ 0.8 million,
substantially breaking even with its ordinary activities. The Group continues
streamlining the activities of the Software and Services business segment, in
accordance of its strategy of aligning the overall Group resources.

Revenue analysis per region and customer base

Geographically, the Group saw the growth coming from Eastern Europe, Middle East
and Africa, and the Americas regions. Western Europe contributed 60% to the Group
revenue, whilst Eastern Europe accounted for 25%. Middle East and Africa brought 8%
of the Group revenue, while Americas contributed 6% and Asia Pacific 1% to the
Group revenue for the period. It is worth noting that the IPTV segment demand in
the United States of America contributed to the growth thus bringing one of the
Group US IPTV distributors for the first time into the top ten customers list.

Share buyback

The Annual General Meeting of Shareholders held on 26 June 2009 approved a further
share buyback program for up to 619,054 shares, aimed at cancelling the shares so
acquired. The shares will be bought back through a second trading line. The exact
timing together with the terms and conditions will be determined by the Board of
Directors in due course.

Conference call

The management of ADB Group will hold a conference call to discuss the first-half
2009 financial results and outlook for the rest of the year, today at 15:00 CET.

To connect to this conference, participants will be required to dial: +41 (0)44 580
64 03
To ask a question, the participants will be required to dial: 01.

The main financial statements for the first-half of 2009 are attached to this press
release. This press release and further information on ADB Group can be found on
the Group's website at www.adbholdings.com.

For further information please contact:

Tina Nyfors
EVP, Corporate Development
Tel: +41 22 592 8433
Fax: +41 22 592 8432
t.nyfors@adbglobal.com

-end-

About ADB Group (SIX: ADBN)

ADB Group (www.adbholdings.com) was founded in 1995 and is a leading developer of
solutions required to view and interact with digital TV broadcast through cable,
satellite, terrestrial and IP networks. The Group primarily sells consumer premise
devices, including set-top boxes, with over 13 million units deployed since 1997.
The development and sales of the Group's products and services are conducted in two
main operating segments: the Digital TV Equipment segment, mainly operated by ADB
(www.adbglobal.com), and Software and Services segment, encompassing Osmosys
(www.osmosys.tv) and Vidiom Systems (www.vidiom.com).

This press release contains forward-looking statements. You are cautioned that any
such forward-looking statements are not guarantees of future performance and
involve risks and uncertainties, and that actual results may differ materially from
those in the forward-looking statements as a result of various factors, among
which:

* future developments of the world digital TV market, in particular the future
demand for digital TV products in the key markets and from key customers served
by our Group;
* pricing pressures, competitive market situation;
* our and the industry's capability to successfully and timely innovate and
develop challenging technology, and our capability to hire and retain
high-level employees;
* changes in the exchange rates between the US$ and the main other operating
currencies of the Group, including the Euro and the Polish Zloty;
* our ability in an intensive competitive environment, to continue securing
orders from existing or new customers and to achieve our pricing expectations
for volume supplies of new products in whose development we have or are
currently investing;
* the ability of our suppliers to meet our demands for supplies, qualitatively or
quantitatively, and to offer competitive pricing;
* our gross margin could vary significantly from expectations based on changes in
revenue levels, product mix and pricing, changes in unit costs, and the timing
and execution of shipments ramp-ups;
* changes in the economic, tax, social or political environment, including import
and other duties, military conflict, terrorist activities, as well as natural
events such as severe weather, health risks, epidemics or earthquakes in the
countries in which we, our key customers and our suppliers operate;
* our ability to obtain required licenses on third-party intellectual property on
reasonable terms and conditions, the impact of potential claims by third
parties involving intellectual property rights relating to our business, and
the outcome of litigation;
* the results of actions by our competitors, including new product offerings and
our ability to react thereto;

Advanced Digital Broadcast Holdings SA undertakes no obligation to publicly update
or revise any forward-looking statements. Advanced Digital Broadcast Holdings SA
reserves the right to amend the information at any time without prior notice.

The information contained in this press release may not be considered as being a
substitute for economic, legal, tax or other advice and you are cautioned to base
investment decisions or other decisions on the content of this release. You are
recommended to consult your investment advisers or other advisers prior to making
any decision.

This press release is not an offer of securities for sale or a solicitation to
invest in Advanced Digital Broadcast Holdings SA securities. In particular, it is
not an offer of securities for sale in the United States of America, its
territories and possessions. Securities may not be offered or sold in the United
States absent registration or an exemption from registration under the U.S.
Securities Act of 1933, as amended. Advanced Digital Broadcast Holdings S.A. does
not intend to register its securities in the United States of America.

ADVANCED DIGITAL BROADCAST HOLDINGS SA AND SUBSIDIARIES

Consolidated Income Statements

SIX MONTHS ENDED 30 JUNE 2009, 31 DECEMBER 2008, 30 JUNE 2008
(Expressed in United States
Dollars)

First-half Second-half First-half
2009 2008 2008
(Unaudited) (Unaudited) (Unaudited)
$ $ $

Revenue 183,181,162 190,924,671 169,891,871
Cost of sales (114,610,560 ) (114,360,296 ) (102,146,753 )
Gross profit 68,570,602 76,564,375 67,745,118

Research and development
expenses (28,699,502 ) (33,597,841 ) (33,807,152 )
Selling, general and
administrative expenses (24,800,389 ) (26,803,699 ) (25,725,746 )
Other income 87,400 (4,232,129 ) 4,665,822
Other expenses (2,789,349 ) (3,648,900 ) (1,781,043 )
Finance income 2,461,555 3,571,421 1,297,152
Finance costs (3,859,308 ) (3,741,914 ) (2,489,201 )
Profit before tax 10,971,009 8,111,313 9,904,950

Income tax expense (1,856,853 ) (784,245 ) (2,313,853 )
Profit for the period from
continuing operations 9,114,156 7,327,068 7,591,097

Loss for the period from
discontinued operations - (470,020 ) (2,859,649 )
Profit for the period 9,114,156 6,857,048 4,731,448

Earnings per share
From continuing and
discontinued operations:
Basic 1.63 1.18 0.79
Diluted 1.63 1.18 0.79

From continuing operations:
Basic 1.63 1.26 1.26
Diluted 1.63 1.26 1.26

ADVANCED DIGITAL BROADCAST HOLDINGS SA AND SUBSIDIARIES

Consolidated BALANCE SHEETS

30 JUNE 2009, 31 DECEMBER 2008, 30 JUNE 2008
(Expressed in United States Dollars)

30
30 June 31 December June
2009 2008 2008
(Unaudited) (Audited) (Unaudited)
$ $ $
ASSETS

Non-current assets
Goodwill 15,906,695 15,906,695 18,030,051
Intangible assets 18,910,444 18,562,158 18,592,421
Property and
equipment 10,670,192 11,429,514 14,007,242
Deferred income
tax assets 2,819,380 3,281,531 2,509,147
Long-term trade
receivables 5,731,318 8,301,209 14,484,573
Other 1,095,064 1,110,577 1,389,754
Total non-current
assets 55,133,093 58,591,684 69,013,188

Current assets
Inventories, net 29,594,439 26,006,638 36,098,636
Other current
assets 6,610,582 6,400,377 7,427,247
Trade receivables,
net 54,816,709 60,631,162 54,347,284
Available-for-sale
investments 20,398,494 9,599,494 8,797,330
Cash and cash
equivalents 62,541,440 61,365,592 58,941,623
Total current
assets 173,961,664 164,003,263 165,612,120

Total assets 229,094,757 222,594,947 234,625,308

30 June 31 December 30 June
2009 2008 2008
(Unaudited) (Audited) (Unaudited)
$ $ $
EQUITY AND LIABILITIES

Capital and reserves
Share capital 1,326,181 1,326,181 1,326,181
Share premium 76,551,414 76,551,414 76,551,414
Share-based compensation
reserve 3,938,338 3,342,232 2,420,717
Other reserves (1,052,900) (2,994,029) (1,103,683)
Retained earnings 33,897,956 24,783,800 17,926,752
Treasury shares (21,959,951) (21,404,311) (9,969,714)

Total equity 92,701,038 81,605,287 87,151,667

Non-current liabilities
Long-term bank loans 7,353,766 9,529,943 15,000,277
Retirement benefit
obligations 4,300,385 4,171,832 4,532,445
Deferred income tax
liabilities 971,795 1,207,720 1,042,164
Long-term payables 36,180 78,251 211,391
Total non-current
liabilities 12,662,126 14,987,746 20,786,277

Current liabilities
Bank loans (secured) 13,882,656 14,031,639 11,571,150
Bank loans (unsecured) - - 7,874,000
Current portion of long-term
bank loans 3,390,485 3,615,926 5,005,439
Trade and other payables 71,679,793 72,924,994 71,267,018
Accrued expenses 25,825,082 26,491,813 24,493,843
Provisions 4,473,813 3,477,870 2,372,933
Taxes payable 3,346,583 1,907,065 993,213
Other current liabilities 1,133,181 3,552,607 3,109,768
Total current liabilities 123,731,593 126,001,914 126,687,364

Total liabilities 136,393,719 140,989,660 147,473,641

Total equity and liabilities 229,094,757 222,594,947 234,625,308

ADVANCED DIGITAL BROADCAST HOLDINGS SA AND SUBSIDIARIES

Consolidated statements of cash flows

SIX MONTHS ENDED 30 JUNE 2009, 31 DECEMBER 2008, 30 JUNE 2008
(Expressed in United States
Dollars)

First-half Second-half First-half
2009 2008 2008
(Unaudited) (Unaudited) (Unaudited)
$ $ $
CASH FLOWS FROM OPERATING
ACTIVITIES

From continuing operations:
Profit for the period 9,114,156 7,327,068 7,591,097
Adjustments for:
Income tax expense 1,856,853 784,245 2,313,853
Depreciation 1,180,936 1,406,885 1,573,541
Amortisation 6,818,844 8,921,667 9,063,488
Finance costs 3,859,308 3,741,913 2,489,202
Finance income (2,461,555) (3,571,421) (1,297,152)
Share-based payment expense 596,106 921,515 746,437
Provision for inventory 1,590,887 1,786,876 1,607,822
Others 11,389 45,031 234,941
Profit before working
capital changes 22,566,924 21,363,779 24,323,229
Working capital changes:
Trade and other receivables 8,384,344 (697,966) 45,817,673
Inventories (5,178,688) 8,305,122 (5,119,985)
Trade and other payables (1,245,201) 1,708,217 15,901,371
Accrued expenses (657,721) 2,399,723 (22,222,079)
Provisions 995,943 1,104,937 448,933
Other current liabilities (743,705) 534,121 (2,260,126)
Others 584,813 3,421,078 (911,370)
Retirement benefit
obligations 128,553 (42,903) 491,548
Cash generated by operating
activities 24,835,262 38,096,108 56,469,194
Interest paid (3,868,318) (1,569,360) (2,515,615)
Tax paid (454,857) (433,851) (310,215)
Net cash provided by
operating activities 20,512,087 36,092,897 53,643,364

Net cash used in operating
activities from
discontinued operations - (262,172) (1,225,833)

Net cash provided by
operating activities 20,512,087 35,830,725 52,417,531

First-half Second-half First-half
2009 2008 2008
(Unaudited) (Unaudited) (Unaudited)
$ $ $
CASH FLOWS FROM INVESTING
ACTIVITIES

From continuing operations:
Acquisitions of property and
equipment (681,973) (1,118,035) (1,351,917)
Proceeds from sale of
property and equipment 28,966 222,047 146,972
Payments for intangible
assets (7,195,250) (9,709,661) (11,153,371)
Proceeds from sales of
intangible assets - 655,055 1,701
Purchase of
available-for-sale
investments (10,525,497) (826,577) (6,846,137)
Interest received 1,639,979 1,237,920 1,523,675
Net cash used in investing
activities (16,733,775) (9,539,251) (17,679,077)

Net cash provided by
investing activities from
discontinued operations - 134,830 5,071

Net cash used in investing
activities (16,733,775) (9,404,421) (17,674,006)

CASH FLOWS FROM FINANCING
ACTIVITIES

From continuing operations:
Decrease in bank loans (2,550,601) (12,273,358) (3,082,736)
Share purchase (555,640) (11,434,597) (994,577)
Net cash used in financing
activities (3,106,241) (23,707,955) (4,077,313)

Net cash provided by financing
activities from discontinued
operations - - -

Net cash used in financing
activities (3,106,241) (23,707,955) (4,077,313)

TRANSLATION ADJUSTMENT ON
FOREIGN CURRENCY 503,777 (294,380) (509,638)

NET INCREASE IN CASH 1,175,848 2,423,969 30,156,574

CASH AND CASH EQUIVALENTS,
BEGINNING OF THE PERIOD 61,365,592 58,941,623 28,785,049

CASH AND CASH EQUIVALENTS, END
OF THE PERIOD 62,541,440 61,365,592 58,941,623

ANALYSIS OF BALANCES OF CASH
AND CASH EQUIVALENTS
Time deposits 30,729,432 26,415,356 33,624,966
Cash and bank balances 31,812,008 34,950,236 25,316,657

62,541,440 61,365,592 58,941,623

--- End of Message ---

ADB Holdings S.A.
Avenue de Tournay 7 Chambesy Switzerland

ISIN:
CH0021194664; Index: SPI, SPIEX, SSCI;
Listed: Main Market in SIX Swiss Exchange;
Copyright © Hugin AS 2009. All rights reserved.