+1.2% at constant currency, +3.9% excluding legacy activities. Solid Licensing revenues, profitable growth and market share gains in Connected Home and Entertainment Services. Technicolor reconfirms its 2013 objectives
In € million |
Q3 2012 |
Q3 2013 |
Change, reported |
9M 2012 |
9M 2013 |
Change, reported |
|
Group revenues from continuing operations[1] |
922 |
881 |
(4.4)% |
2,488 |
2,470 |
(0.7)% |
|
Change at constant rate (%) |
|
+1.2% |
|
|
+2.4% |
|
|
Change at constant rate excluding legacy[2] (%) |
|
+3.9% |
|
|
+5.5% |
|
|
o/w |
Technology |
128 |
123 |
(4.5)% |
364 |
349 |
(4.2)% |
Change at constant rate (%) |
|
(3.9)% |
|
|
(3.5)% |
|
|
Entertainment Services |
449 |
398 |
(11.2)% |
1,206 |
1,130 |
(6.2)% |
|
Change at constant rate (%) |
|
(6.1)% |
|
|
(3.9)% |
|
|
Change at constant rate excl. legacy (%) |
|
(1.0)% |
|
|
+2.2% |
|
|
Connected Home |
345 |
361 |
+4.4% |
918 |
990 |
+7.9% |
|
Change at constant rate (%) |
|
+12.6% |
|
|
+12.9% |
|
[1] Excluding the Broadcast Services and the SmartVision (television-over-IP) businesses, sold in 2012, and the Cirpack softswitch operations (voice-over-IP), sold in 2013. Those activities contributed €6 million to revenues in the third quarter of 2012 (no contribution in the third quarter of 2013). On a reported basis, including disposals, revenues were down 5.1% at current currency and up 0.5% at constant currency year-over-year.
[2] Legacy activities include mainly photochemical film and compression & authoring activities.
Frederic Rose, Chief Executive Officer of Technicolor, stated:
“This quarter puts us well on track to deliver our 2013 EBITDA, free cash flow and net debt objectives. As we continue to deliver solid operational results, we remain focused on strengthening our core competencies and seeking out new opportunities in next generation video and audio technologies. In parallel, our Connected Home and Entertainment Services activities continued to generate profitable growth and gain market share, while our Licensing activities delivered another robust performance.”
Q3 2013 revenue highlights
Financial structure update
2013 objectives confirmed
***
An analyst conference call hosted by Frederic Rose, CEO and Stéphane Rougeot, CFO and SEVP Strategy will be held on Friday, 25 October 2013 at 4:00pm CEST.
Financial Calendar
FY 2013 Results |
20 February 2014 |
Q1 2014 Revenues |
25 April 2014 |
***
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.
***
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] Adjusted EBITDA at constant scope excluding the Broadcast Services and the SmartVision (television-over-IP) businesses, sold in 2012, and the Cirpack softswitch operations (voice-over-IP), sold in 2013.