TECHNICOLOR: Technicolor: First Quarter 2021 Results
Technicolor on track to deliver
2
. first quarter
2
1 - Technicolor(Euronext Paris: TCH; OTCQX: TCLRY) is today announcing its results for the first quarter 2021.
Richard Moat, Chief Executive Officer of Technicolor, stated: the Group s turnaround
. L
, and pipeline is already secured, in collaboration with Hollywood s most prestigious studios.
The demand for state-of-the-art broadband gateways is four times what it was 12 months ago, driving the
continuing improvement in
improved
maintaining its
,
, with results in line with expectations
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but
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;
represents a
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Technicolor activities are benefiting from a strong and growing demand driven by the urge to equip homes with strong broadband access,
inuing operations
Revenues of €711 million were up 3.6% at constant rate reflecting, as expected, a decrease in Production Services of (15)%, primarily driven by lower revenue in Film & Episodic Visual Effects, and in DVD Services of (8)%, mainly due to lower volumes. However, there was an extremely strong performance in Connected Home, particularly in North America and Eurasia, where revenue growth (+34% and +29% respectively) was driven by increased underlying demand, mitigating a lower performance from Latin America.
In the first quarter 2021, the Group realized €20 million of cost savings.
Adjusted EBITDA of €43 million was up 72% at constant rate. This reflects operational and financial improvements across all activities, particularly in Connected Home, and lower business volumes in Film & Episodic Visual Effects compared to first quarter 2020, a quarter not yet affected by Covid-19.
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Disney Plus Added 7 New Movies/TV Shows Today
Disney Plus has got one last haul of new content to go this month before April is over. We might not have a fresh episode of
The Falcon and the Winter Soldier to enjoy this week, but there are a bunch of other great titles to keep us entertained all the same. Including a behind-the-scenes look at the smash hit Marvel TV series, not to mention the latest installments of the platform’s two currently ongoing shows.
Check out the full list of what’s new today below and then keep reading for a more in-depth rundown: