Brief: Technicolor Creative Studios FY Revenue Up At EUR 784 Mln

Technicolor Creative Studios SA

10/03/2023 07:07

March 10 (Reuters) - 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:nGNX6vsZZY 
Further company coverage:  TCHCS.PA 

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