This €178 million improvement at constant currency mainly resulted from better operating performance and lower change in working capital requirements at Connected Home, along with lower restructuring expenses, mainly through the second quarter of 2022. This led to a +€38 million adjusted EBITA improvement compared to the first half 2021, reaching €48 million.įree Cash Flow from continuing operations before financial and taxes amounted to €(35) million compared to €(215) million in the first half of 2021. Adjusted EBITDA margin improved by 145 basis points (+139 basis points at constant exchange rate) to 8.4% of revenues, resulting from higher revenues and significant cost savings and operating efficiencies achieved across all divisions. This good performance was notably driven by a high level of demand for Technicolor Creative Studios and Connected Home products and services, despite continued supply constraints and decelerating advertising spending growth in Q2 2022 compared with a high comparative base in H1 2021.įirst half 2022 Adjusted EBITDA of €134 million improved by €40 million (up €29 million at constant exchange rate). The first half of 2022 registered a good set of results driven by strong demand for Technicolor Creative Studios and Connected Home products, despite a trading environment marked by persistent fulfillment difficulties.įirst half 2022 revenues amounted to €1,601 million, up 18.4% (up 8.8% at constant exchange rate, up 11.2% at constant exchange rate and perimeter). I- H 1 2022 key hig hlights and 2022 Outlookįree Cash Flow before financial and taxes I want to thank our teams for doing an outstanding job in handling our day-to-day operations, and supporting us in leading Technicolor into a new chapter of value creation.” We are well on track to create two leading independent companies, T echnicolor Creative Studios and V antiva, with solid foundations for long term growth.
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In parallel, we have made significant progress in the partial spin-off of Technicolor Creative Studios along with the full refinancing of our existing debt, thanks to the overwhelming support we have had from all our stakeholders. With robust demand across most of our businesses, I am pleased to confirm this year’s guidance. In addition, our businesses continue to benefit from an improved cost base and from operational efficiencies, enabling them to navigate ongoing supply chain constraints, as well as restricted advertising spending. The Group’s performance improved significantly in the first half of 202 2 compared to the first half of 2021, driven by overall strong demand across almost all divisions. “ Technicolor’s divisions continued to perform well despite facing ongoing industry-related headwinds, which reflects the strength and leadership position of our businesses. Richard Moat, Chief Executive Officer of Technicolor, said : The 65% p artial s pin - off of T echnicolor C reative S tudios is on track to be completed in the third quarter of 2022.Completion in May 2022 of the sale of the Trademark Licensing operations for an approximately €100 million cash consideration.Technicolor confirms its 2022 guidance 1.
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G ood set of results with strong performance across all divisions extending the positive momentum from the first quarter, and leading to improved f inancial performance of the Group compared to the first half 2021:.The Board of Directors of Technicolor S.A., meeting today, approved the Group's first half 2022 accounts and guidance. Paris (France), July 28 th, 2022 – Technicolor (Euronext Paris: TCH OTCQX: TCLRY) is today announcing its results for the first half 2022.
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