Technicolor reports “robust” 2012
Technicolor has reported full-year 2012 profit before tax of €264 million compared to a loss of €33 million in the previous year. Profit from continuing operations was €13 million compared to a loss of €303 million last year.
The company had a full-year financial loss of €20 million compared to a loss of €323 million in 2011. The company noted that the net loss included €38.6 million for an EU antitrust fine. Excluding the fine, net profit was €17 million. Revenues from continuing operations increased to €3.58 billion from €3.45 billion in the prior year.
Frederic Rose, Chief Executive Officer of Technicolor, stated: “Our 2012 results demonstrate that Technicolor is fully on track to achieve its Amplify 2015 strategic roadmap and capture new opportunities to deliver an enhanced media experience to consumers and prosumers. With higher sales, improved profitability, free cash-flow above our targets and a strengthened balance sheet, 2012 was a year of significant financial and strategic achievements for Technicolor. Our strong operational performance demonstrates the robustness of our business model and our capacity to innovate”.