Full Year 2012 Results
FY 2012 Financial Highlights
H2 2012 Financial Highlights
In € million | Second Half | Full Year | ||||
2011 | 2012 | Change, reported | 2011 | 2012 | Change, reported | |
Group revenues from continuing operations | 1,891 | 1,934 | +2.2% | 3,450 | 3,580 | +3.8% |
Change at constant currency (%) | (0.8)% | (0.2)% | ||||
Change at constant rate and scope | +3.4% | +2.2% | ||||
Adjusted EBITDA from continuing operations | 308 | 314 | +2.0% | 475 | 512 | +7.8% |
As a % of revenues | 16.3% | 16.2% | (0.1)pt | 13.8% | 14.3% | +0.5pt |
Net Income | (212) | 4 | +217 | (324) | (22) | +302 |
Group Free cash flow | 49 | 104 | +55 | 81 | 106 | +25 |
Cash position at 31 December | 370 | 397 | +7.3% | |||
Net Debt IFRS at 31 December | 957 | 718 | (24.9)% | |||
Net Debt non IFRS at 31 December | 1,130 | 839 | (25.8)% |
Technicolor, on track to deliver on Amplify 2015
A strong 2012 business performance
A strengthened financial position
Ramping up new growth areas in 2012
2013 objectives
Confirmed value of Technicolor’s Intellectual Property portfolio:
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”.
An analyst conference call hosted by Frederic Rose, CEO, and Stéphane Rougeot, CFO and SEVP Strategy, will be held on Friday, February 22, 2013 at 3:00 pm CET.
Financial Calendar
Q1 2013 Revenues |
April 26, 2013 |
AGM 2013 |
May 23 2013 |
H1 2013 Results |
July 26 2013 |
Q3 2013 |
25 October 2013 |
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Warning: Forward Looking Statements
This press release contains certain statements that constitute "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions or which do not directly relate to historical or current facts. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Technicolor’s filings with the French Autorité des marchés financiers.
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About Technicolor
Technicolor, a worldwide technology leader in the media and entertainment sector, is at the forefront of digital innovation. Our world class research and innovation laboratories enable us to lead the market in delivering advanced video services to content creators and distributors. We also benefit from an extensive intellectual property portfolio focused on imaging and sound technologies, based on a thriving licensing business. Our commitment: supporting the delivery of exciting new experiences for consumers in theaters, homes and on-the-go. Euronext Paris: TCH www.technicolor.com
Contacts
Press:
+33 1 41 86 53 93
technicolorpressoffice@technicolor.com
Investor relations:
+33 1 41 86 55 95
investor.relations@technicolor.com
[1] At constant scope: excluding Broadcast Services and IPTV activities sold in 2012, and VoIP activities sold in January 2013
[2] EBIT from continuing operations excluding other income (expense), and Depreciation & Amortization (including impact of provisions for risks, litigations and warranties)
[3] Free Cash Flow from both continuing operations and discontinued operations
[4] Legacy activities include photochemical film, compression & authoring and tape duplication
[5] Adjusted EBITDA at constant scope excluding Broadcast Services and IPTV activities sold in 2012, and VoIP activities sold in January 2013 (see table page 22)