Technicolor - Robust demand with fulfilment issues
Technicolor is on track to meet FY21 and FY22 management guidance (maintained at the Q3 results in November) on EBITDA and EBITA, despite supply constraints resulting from the pandemic, and our forecasts for these were unchanged. Demand in both Technicolor Creative Studios (TCS) and Connected Home remains robust, with financial performance constrained in the former by industry talent shortages and in the latter by continuing industry componentry supply issues. With planned cost savings tracking to plan, the shift is continuing back towards the equity, which now represents 35% of the enterprise value. We would expect that a return to focus on the operations should lead to a higher valuation.Technicolor SA is engaged in the development of technologies, and the supply of digital production (visual effects and animation), video and sound postproduction and distribution solutions and services for a range of content creators, pay-television operators, and over-the-top (OTT) and network service providers. The Company operates in the media and entertainment industry. The Company's activities are organized in three operating segments: Connected Home, Entertainment Services and Technology. The Connected Home segment includes design and supply of solutions enabling the delivery of digital video entertainment, data, as well as voice and Smart Home services to pay-television operators and network service providers. The Entertainment Services segment includes Production Services and DVD Services divisions. The Technology segment includes Patent Licensing, and Trademark and Technology Licensing divisions.
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.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.