Technicolor Revenues Up 15.4%

The Board of Directors of Technicolor (Euronext Paris: TCH) met on 27 April 2011 to review the Group’s revenues for the quarter ending 31 March 2011.
Q1 2011 revenues
In the first quarter of 2011, Group revenues from continuing operations amounted to €812 million, up 15.4% at current currency compared to the first quarter of 2010, and up 16.2% at constant currency.
Technology activities benefitted from a strong increase in revenues from MPEG LA, mainly reflecting the growth in worldwide consumer electronics products shipments that occurred in the second half of 2010.
Entertainment Services revenues increased significantly during the quarter, driven by continued capacity expansion and strengthening of market positions in Creation Services, as well as market share gains and strong Blu-ray growth in DVD Services.
Digital Delivery revenues increased slightly compared to the first quarter of 2010, reflecting continued strong growth in global shipments of Digital Home Products, partly offset by a less favorable overall mix year-over-year.
Estimated net financial debt at the end of the first quarter of 2011 was not materially different compared to the 31 December 2010 level, which stood at 993 million euros as per financial statements.
The Group’s objectives for 2011, as communicated on 28 February 2011 (Full Year 2010 Results), are unchanged: achieve slight revenue growth overall at constant rates for the full year and generate an adjusted EBITDA comparable or slightly up compared to the level achieved in 2010.
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