Technicolor reports first half 2012 results

Wednesday, July 25th, 2012
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PARIS, France — The Board of Directors of Technicolor (Euronext Paris: TCH) met yesterday to review the Group’s first half 2012 results.

Q2 2012 revenues highlights

Group revenues from continuing operations amounted to €846 million in Q2 2012, up 13.3% at current currency and up 5.9% at constant currency compared to Q2 2011.

Technology: Licensing revenues recorded strong growth of 20.7% at constant currency, reflecting continuing strength of MPEG LA revenues and good performances across its programs, in particular in Digital TV and Set Top Boxes;

Entertainment Services: Revenues were down 13.1% at constant currency and down only 6.1% excluding photochemical film activities which are at end of life. DVD Services reported an improvement compared with the first quarter of 2012 with volume growth in North America and softer volume decrease in Europe. Creation Services recorded another quarter of revenue growth;

Digital Delivery: Confirmed recovery of Connected Home, with revenues up 34.7% at constant currency, reflecting a strong recovery in volumes and product mix. This recovery was also confirmed by additional customer wins for new solutions and services across Americas, EMEA and APAC.

Connected Home – Volume by region (in m units)

                      Q2 2011  Q2 2012
                      -------  -------
STBs (incl. Hybrid)
 North America            2.3      1.9
 Latin America            1.0      2.3
 EMEA                     0.2      0.2
 APAC                     0.2      0.7
Service Gateways
 North America              -      0.0
 Latin America            0.4      0.8
 EMEA                     0.7      1.1
 APAC                     0.3      0.2
 North America            0.1      0.1
 Latin AMerica            0.7      0.4
 EMEA                     0.3      0.4
 APAC                     0.1      0.1