France's Technicolor hits 1-year high as broadband boosts Q1 earnings

Vantiva SA

12/05/2021 09:35

** Shares in French digital production and media co  TCH.PA 
rise over 10% to their highest since May last year, after it
posts a steep rise in earnings
    ** TCH posts Q1 adjusted EBITDA of EUR 43 million ($52.16
million) up 72% at constant rates, helped by strong demand for
home broadband and original content from studios and streamers
    ** "Live action production is ramping up, and more than 90%
of our 2021 visual effects and animation pipeline is already
secured, in collaboration with Hollywood's most prestigious
studios" - CEO Richard Moat
    ** Demand for top-quality broadband gateways has quadrupled
since last year, driving further improvements in its connected
home business - TCH
    ** Co confirms its forecasts for 2021 and 2022, adding that
main challenge for this year is the capacity to deliver given
component and recruitment constraints

($1 = 0.8243 euros)

 ((sarah.morland@thomsonreuters.com; +48 58 769 65 92;))