Edison Investment Research - Technicolor SA (TCH) Technicolor - New CEO at the helm

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Edison Investment Research

Richard Williamson

Technicolor - New CEO at the helm

Technicolor has announced the appointment of Richard Moat as CEO, taking over from FrÃ©dÃ©ric Rose, who had been in situ for 11 years. He is a turnaround specialist, with a telecoms background, and is tasked with accelerating growth, value creation and financial sustainability. The Q3 trading update indicated improvements in adjusted EBITDA and free cash flow, as anticipated. We have made minor downward adjustments to our full year and FY20 forecasts to reflect the shift in mix. The valuation remains well below that of peers and our DCF-derived level of â‚¬2.10.

15/11/2019 6 EN

Underlying

Technicolor SA

Technicolor is engaged in the media and entertainment and consumer services industries. Co. develops technologies that provide the solutions and services offered to its business clients (content creators and distributors, Network Service unique expertise to patent its innovation and monetize its IP portfolio, Providers and Pay-TV operators). Co.'s innovation and Intellectual Property (IP) portfolio comprises video, audio, communication/interoperability, content distribution and local network technologies. Co.'s activities can be divided into three main segments: Technology, Entertainment Services and Connected Home.

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FR0010918292 France

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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Technicolor - New CEO at the helm

Technicolor: Launch of the distribution of 65% of Technicolor Creative Studios to Technicolor shareholders

Technicolor : Lancement de la Distribution en Nature de 65 % de Technicolor Creative Studios aux actionnaires de Technicolor

Technicolor: Update on the refinancing and Spin-off process

Biodexa Pharmaceuticals - In a period of transition

Norcros - Sale of Johnson Tiles UK agreed

Henderson Far East Income - Repositioning to raise total returns

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