Universal Registration Document 2021

2 44

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

2.1 2.2

2.3 2.3.1 2.3.2 2.3.3 2.4 2.5

SUMMARY OF RESULTS

34

LIQUIDITY AND CAPITAL RESOURCES

Overview Cash flow

44 45 46 47

RESULTS OF OPERATIONS FOR 2020

AND 2021

34 35

Financial resources

Analysis of revenues from continuing operations Analysis of Adjusted EBITDA and Adjusted Analysis of operating expenses and profit (loss) from continuing operations before tax and net financial expense EBITA

2.2.1 2.2.2

SUBSEQUENT EVENTS

40

INFORMATION ON COVID-19

48

2.2.3

41 42 42 42 42 42 42

Net financial expense

2.2.4 2.2.5 2.2.6 2.2.7 2.2.8 2.2.9

Income tax

Profit (loss) from continuing operations Profit (loss) from discontinued operations

Net income (loss) of the Group

Adjusted indicators

2021 ADJUSTED EBITDA FROM CONTINUING OPERATIONS Technicolor Creative Studios €113 million DVD Services €67 million Connected Home €103 million Corporate & Other €(14) million

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TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2021