Brief: Technicolor 9-Month Adjusted EBITDA Up At 176 Million Euros

Vantiva SA

04/11/2021 17:28

Nov 4 (Reuters) - TECHNICOLOR SA  TCH.PA :
    * TECHNICOLOR: THIRD QUARTER 2021 RESULTS
    * SIGNIFICANT DEMAND FOR ORIGINAL CONTENT AND
HIGH-PERFORMANCE
BROADBAND PRODUCTS BUT CONTINUING SUPPLY CONSTRAINTS RESULTING
FROM PANDEMIC
    * TECHNICOLOR ON TRACK TO MEET ITS 2021 AND 2022 GUIDANCE
    * 9-MONTH REVENUES OF EUR 2,050 MILLION, A (4.4)% DECREASE
AT
CONSTANT EXCHANGE RATE
    * 9-MONTH ADJUSTED EBITDA OF EUR 176 MILLION, UP 71.3% AT
CONSTANT
RATE
    * 9-MONTH FREE CASH FLOW (BEFORE FINANCIAL RESULTS AND TAX)
FROM
CONTINUING OPERATIONS OF EUR (206) MILLION, REPRESENTING A EUR
72 MILLION YEAR-ON-YEAR IMPROVEMENT AT CURRENT EXCHANGE RATE
    * GROUP IS ON TRACK TO ACHIEVE C. EUR 115 MILLION COST
SAVINGS
PLANNED FOR CALENDAR YEAR 2021, WITH EUR 75 MILLION COST SAVINGS
REALIZED IN FIRST 9MONTHS
    * TARGET OF DELIVERING A CUMULATIVE EUR 325 MILLION IN
SAVINGS BY
END OF 2022 IS CONFIRMED
    * BASED ON BUSINESS ACTIVITY FOR FIRST 9MONTHS, GROUP IS
REITERATING THE OUTLOOK PRESENTED IN ITS FY 2020 RESULTS PRESS
RELEASE ISSUED ON MARCH 11, 2021
    * END-SEPT NET DEBT AT NOMINAL VALUE AMOUNTS TO EUR 1,258
MILLION,
AND IFRS NET DEBT AMOUNTS TO EUR 1,183 MILLION

Source text for Eikon:  ID:nGNX3HcTdG 
Further company coverage:  TCH.PA 

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