Company says it is well placed to benefit from the burgeoning growth of streaming platforms
Dan Meier 3 hours ago
Company says it is well placed to benefit from the burgeoning growth of streaming platforms
target=_blank title=Share on LinkedIn class=share-linkedin> Company says it is well placed to benefit from the burgeoning growth of streaming platforms
https://www.tvbeurope.com/business/technicolor-unveils-strategic-plan-to-streamline-operations title=Share via Email class=share-email>
Technicolor has unveiled its 2020-22 Strategic Plan, with three transactions aimed at strengthening its capital structure and strategic flexibility.
Following its financial downgrading last year, the company announced:
Capital increase with preferential subscription rights for shareholders for a total gross amount of c. 300 million, issue premium included
Extension of credit lines (RCF and bi-lateral ABL with Wells Fargo), originally maturing in 2021, to 2023 subject to the successful completion of the Rights Issue; the RCF will be reduced from 250m to 225m starting from 1st January 2021 and to 202.5m starting from 22nd December 2021
New $110m short-term facility providing additional liquidity headroom
CEO Richard Moat, the renewed Board of Directors and management team designed the plan to streamline operations for the benefit of shareholders, employees, clients, suppliers and lenders.
Technicolor said in a statement: In Production Services, Technicolor is well placed to benefit from the burgeoning growth of streaming platforms and the unprecedented demand for original content and is well positioned to capture outsized market share in Film and Episodic, Advertising, and Animation.
DVD Services has already started creating a more resilient business model through its ongoing cost optimisation efforts and the renewal of key major customer contracts under volume-based pricing schemes. Finally, in Connected Home, Technicolor will focus on Broadband gateway activities, which are experiencing an improved trading environment.
The company also estimated its 2019 Financial Statements, which are currently being audited:
Sales of c. 3.8bn reflecting double digit growth in Production Services, more than offset by a decline in the North American video segment in Connected Home and replication volume decline in DVD Services (as anticipated)
Adjusted EBITDA of c. 246m reflecting solid improvement in Connected Home vs the first half 2019 as anticipated, driven mainly by margin recovery as a result of improvements in memory costs and benefits from our transformation plan
Adjusted EBITA of c. 36m due to high rendering costs consumed in Production Services Film and Episodic Visual Effects in an intense period of deliveries and higher D&A linked to the investments in Film & Episodic Visual Effects
Free cash flow of c. - 161m: as expected, and communicated in the 2019 third quarter press release, working capital at the end of the year was negatively affected by downgrades by the rating agencies in 2019. The impact is estimated to be - 95m, mainly explained by a one-off reduction in payment terms
Net Debt of c. 961m (3.9x Net Debt / Adjusted EBITDA)
Credit lines fully undrawn as of 31st December 2019
Europe Stories
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
11/06/2026
As podcast formats evolve in the streaming era, podcasting needs updated, transp...
11/06/2026
As Spotify's global RADAR program enters its sixth year in Italy, a new class of artists is stepping into the spotlight. Today, we're announcing the six...
11/06/2026
Pride Month is a time for celebration, reflection, and amplifying the diverse stories and perspectives from the LGBTQIA+ community that enrich our world. To hel...
11/06/2026
First in new line of muted string libraries
VSL have just announced the launch of two new string libraries that represent the first two instalments in a new...
11/06/2026
New colour option for 61-key Launchkey MK4
At Superbooth 2025, Novation introduced the Launchkey Mini 37 White and Launchkey 49 White, bringing an additiona...
11/06/2026
Larger, but still compact!
Arturia's popular compact MIDI controller keyboard is now available in a, well, slightly less compact version! The new MiniLa...
11/06/2026
Eurosatory 2026: Rohde & Schwarz shapes the new-generation battlefield Rohde & Schwarz unveils next generation SIGINT/EW and CUAS solutions on uncrewed system...
11/06/2026
Rohde & Schwarz unveils NEMACS - Directional, ultra secure connectivity for the ...
11/06/2026
Thursday 11 June 2026
Daisy May Cooper rallies the nation ahead of ICC Women's T20 World CupTurn on cookies to view this content. Go to Privacy options and...
11/06/2026
Summer solstice shows from C il House and Late Date from 9pm on Saturday 20 Jun...
10/06/2026
Get Hands-On with Interfaces & Mic Preamp Brands
If youre after a new interface or preamp, then GearExpo UK is the place to be! Well have a whole host of au...
10/06/2026
November 13-14 2026, The Midway, San Francisco
Following their recent rebranding, MONO Music Conference (formerly Music Expo) have officially announced thei...
10/06/2026
Debut instrument free for limited time
deFORM is the debut release from newly founded developer ebbandflow, and it's being offered as a free download fo...
10/06/2026
Rohde & Schwarz and TRUMPF advance laser-based drone defense with THORIS LCS Rohde & Schwarz is showcasing THORIS at ILA 2026: A sovereign, end to end counter...
10/06/2026
MAHLE and Rohde & Schwarz develop application for sensor testing of modern drive...
10/06/2026
10 Jun 2026
VEON's Banglalink Brings Every World Cup 2026 Match to Football...
10/06/2026
Wednesday 10 June 2026
How to watch every ICC Women's T20 World Cup 2026 match live on Sky Sports
Where is the ICC Women's T20 World Cup 2026 availabl...
10/06/2026
Wednesday 10 June 2026
P RLA brings first-ever Beautifully Clean Oral Care'...
10/06/2026
Wednesday 10 June 2026
Sky reveals pulse-pounding first teaser trailer for upco...
10/06/2026
Wuppertal June 10, 2026
Riedel Artist at the Heart of the 14th World Live Neurovascular ConferenceAt the 14th World Live Neurovascular Conference (WLNC) in Li...
09/06/2026
Last month, Spotify hosted PURE FLOWERS LIVE, a special event celebrating the re...
09/06/2026
Last month, RADAR U.K. artist Skye Newman took the stage in East London for a sp...
09/06/2026
Company to cease operating on 30 June 2026
Australian loudspeaker and amplifier manufacturer Wayne Jones Audio have announced that after much consideration,...
09/06/2026
Increases low-end weight and character
The latest plug-in release from Sheffield-based fedDSP aims to offer an all-in-one solution for users in search of mo...
09/06/2026
Introduces AI Studio Assistant, Moises Studio integration & more
Fender Studio have just announced the launch a significant update that brings an array of n...
09/06/2026
The BBC has found its Hercule Poirot.
After Deadline revealed last month that t...
09/06/2026
Filming to take place in Holmfirth
9th June 2026, London: U&GOLD is heading bac...
09/06/2026
X-Rite Pantone Launches Offset360 to Modernize Color Control Across Existing Pre...
09/06/2026
09 Jun 2026
VEON Appoints Serkan Ozturk as Chief of Staff & Strategy Officer Dubai and New York, June 9, 2026 - VEON Ltd. (NASDAQ: VEON), a global digital oper...
09/06/2026
Tuesday 9 June 2026
Katie Price: Nothing to Hide, a candid and unfiltered accou...
09/06/2026
Enni Continues to Rely on Arvato Systems - And Will Be Using AEP.EnerS4 Billing Solution
Arvato Systems to implement transformation project for SAP S/4HANA Ut...
09/06/2026
These special programmes will highlight RT 's connection with the Irish diaspora
This year, RT is marking 100 years of public broadcasting in Ireland with...
08/06/2026
At Spotify, our commitment to the LGBTQIA community is year-round. Through GLOW, our global music program, we celebrate and amplify the contributions of queer ...
08/06/2026
Get Hands-on With Keyboard & Synth Brands
GearExpo UK wouldn't be complete without some synth action, and we've got some of the industry's most ...
08/06/2026
50 popular in-ear monitoring system profiles added
The latest update for IK Multimedia's headphone-correction system has just arrived, and introduces ca...
08/06/2026
Manny Marroquin signature cans upgraded with SLAM Technology
The flagship model in Audeze's Manny Marroquin Signature Series has just been treated to an...
08/06/2026
Air domain supremacy redefined - New counter UAS, space solutions and directiona...
08/06/2026
he BBC and BritBox have announced that Edward Bluemel (We Might Regret This, My ...
08/06/2026
Plus, 20% off TVs ahead of kick-offMonday 8 June 2026
Sky introduces Real Time...
08/06/2026
FOX Secures Live NFL Game Package in Mexico Starting in Fall 2026 Agreement Features Thursday Night Football, Sunday Games Package, Thanksgiving Day Games, al...
08/06/2026
FOX One, FOX Sports and Indeed Name Austin Franklin and Kevin Akoto as FOX One C...
08/06/2026
Meet us on the show floor
Stand #286310 Discover Nara, the media management tool used by major facilities including Harbor and Molinare.
Nara v2 introduces re...
08/06/2026
L'art de l'Image dans Reflet dans un diamant mort' Une conversation avec le directeur de la photographie Manuel Dacosse, SBC et l' talonneur Pe...
08/06/2026
Embracing today's modern media workflows: FilmLight presents Nara 2.0, with FilmLight API Designed to support the growing demands of today's production ...
Company says it is well placed to benefit from the burgeoning growth of streaming platforms
