Technicolor reports “solid” H1

French media solutions provider Technicolor posted a net loss of €26 million in the first half of 2012, narrower than a net loss of €112 million in the first half of 2011.

For six months, revenues from continuing operations amounted to €1.646 billion compared with €1.559 billion 12 months ago, an increase of 0.6 per cent at constant currency.

Adjusted EBITDA increased to €198 million from €167 million.

For the second quarter, Group revenues from continuing operations were €846 million, up 13.3 per cent at current currency.

Frederic Rose, Chief Executive Officer of Technicolor, commented: “Our solid first semester results in a difficult market environment are a good result, especially with regard to the confirmed recovery of the Connected Home business. These results demonstrate that we are on track to achieve the guidance provided earlier this year. The growth of our revenues, the improvement of our EBITDA and our positive Free Cash Flow, combined with the strengthening of our financial structure in the second half of 2012, are encouraging signs for the future”.

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