Technicolor strong second half
March 1, 2011
Technicolor achieved Q4 revenues of €1.155 billion, up 21.4 per cent vs. Q4 2009, second half revenues over all were €2.075 billion up 17 per cent. Nonetheless annual turnover was down 1.2 per cent on 2009 though EBITDA was 1.2 per cent up at €505 million, a margin of 14 per cent.
A net loss of €69 million reflected the cost of debt restructuring and asset disposals. Net debt was reduced €283 million to €993 million
“Our strong second half 2010 performance provide a good foundation for further organic growth, based on our strength in innovation and by taking advantage of technological disruption. Now that our restructuring phase is over, we will continue our investments in 2011 to ensure that Technicolor remains at the centre of the technological innovation in the migration of the media and entertainment industry to an all-digital world. Some of our choices are already starting to bear fruit, such as MediaNavi, our next generation digital home software solution and our continued expansion in digital production. In parallel, we will continue to focus on our operational performance and profitability to ensure that we drive profitable growth and increase our cash generation,” said Frederic Rose, CEO.