BRIEF-Technicolor Creative Studios FY Revenue Up At EUR 784 Mln

Reuters · 03/10/2023 07:07
BRIEF-Technicolor Creative Studios FY Revenue Up At EUR 784 Mln

- Technicolor Creative Studios SA TCHCS.PA:

  • TECHNICOLOR CREATIVE STUDIOS: 2022 FULL YEAR RESULTS AND BUSINESS UPDATE

  • FULL YEAR REVENUE OF EUR 784 MILLION, UP 30% COMPARED TO 2021, AND 23% AT CONSTANT RATE

  • FULL YEAR ADJUSTED EBITDA AFTER LEASE2 OF EUR 20 MILLION, DOWN FROM EUR 75 MILLION IN 2021

  • COMPANY EXPECTS RESTRUCTURING COST TO AMOUNT TO APPROXIMATELY EUR 40 MILLION IN 2023, AND TO BE REDUCED TO APPROXIMATELY EUR 15 MILLION PER YEAR FOR 2024 AND 2025

  • TO FINANCE ITS FUTURE GROWTH AND RE*IMAGINED PLAN, COMPANY EXPECTS A LEVEL OF CAPEX (MAINLY IT) AND CAPITAL LEASES TO REMAIN BROADLY STABLE IN 2023 COMPARED TO 2022 AND TO PROGRESSIVELY DECREASE TO C. EUR 50 MILLION IN 2025

  • REMAINING PART OF C.EUR 170 MILLION NEW MONEY FINANCING IS EXPECTED TO BE MADE AVAILABLE BY END OF Q2 2023

  • FOLLOWING THE SUSPENSION ON MARCH 8, 2023, THE TRADING OF THE SHARES ISSUED BY TECHNICOLOR CREATIVE STUDIOS WILL RESUME ON THIS FRIDAY 10 MARCH 2023, AT THE MARKET OPENING

  • 2023 ADJUSTED EBITDA AFTER LEASE IS TO REMAIN SLIGHTLY POSITIVE BUT BELOW 2022 LEVELS

  • FOR 2024: SHARP REBOUND IN REVENUES AND ADJUSTED EBITDA AFTER LEASE NOT TO EXCEED €110 MILLION

  • THE COMPANY IS TO CONTINUE TO GROW AND EXPECTS A RETURN TO A NORMALIZED PROFITABILITY IN 2025

Source text for Eikon: ID:

Further company coverage: TCHCS.PA


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