technicolor - 2020 Universal Registration Document

2 OPERATING AND FINANCIAL REVIEW AND PROSPECTS RESULTS OF OPERATIONS FOR 2019 AND 2020

2020

2019

Change (1)

(in million euros unless otherwise stated)

Profit (Loss) from continuing operations before tax and net finance costs/EBIT (a)

(264) (168) (100)

(121) (109)

(144)

Total adjustments on EBIT (b)

(59) (69) (12)

Of which restructuring costs, net

(31) (63) (15) (12)

Of which net impairment losses on non-current operating assets

(75)

Of which other income/(expense)

8

23

Adjusted EBIT from continuing operations (a)-(b)

(96)

(84)

As a % of revenues

(3.2)%

(0.3)%

(289) bps

Depreciation & amortization (2)

261

305

(44) (29)

IT capacity use for rendering in Production Services Adjusted EBITDA from continuing operations

2

31

167

324

(157)

As a % of revenues

+5.6%

+8.5%

(298) bps

Change at current currency. (1) Including reserves (risk, litigation, and warranty reserves) (2)

2020

2019

Change (1)

(in million euros unless otherwise indicated)

Profit (Loss) from continuing operations before tax and net finance costs

(264) (8.8)%

(121) (3.2)%

(144)

As a % of revenues

(561) bps

of which:

Production Services As a % of revenues Connected Home As a % of revenues

(103)

3

(106)

(20.0)%

+0.3%

ns

(21)

(24)

3

(1.2)%

(1.2)%

1 bps

DVD Services

(111)

(94)

(17)

As a % of revenues Corporate & Other

(15.7)%

(10.6)%

(510) bps

(29) (96)

(6)

(24) (84)

Adjusted EBIT from continuing operations

(12)

As a % of revenues

(3.2)%

(0.3)%

(289) bps

of which:

Production Services As a % of revenues Connected Home As a % of revenues

(87)

19

(106)

(16.9)%

+2.2%

ns

17

(12)

30

+1.0%

(0.6)%

35 bps

DVD Services

(9)

(16)

8

As a % of revenues Corporate & Other

(1.2)%

(1.9)%

61 bps

(18) 167

(2)

(16)

Adjusted EBITDA from continuing operations

324

(157)

As a % of revenues

+5.6%

+8.5%

(298) bps

of which:

Production Services As a % of revenues Connected Home As a % of revenues

18

164

(145)

+3.6%

+18.3%

ns 31

110

79

+6.2%

+4.0%

225 bps

DVD Services

54

81

(27)

As a % of revenues Corporate & Other

+7.6%

+9.1%

(156) bps

(14)

1

(16)

Change at current currency. (1)

40

TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2020