TECHNICOLOR: PREPAYMENT OF EIB LOAN - 2018 ADJUSTED EBITDA UPDATE
PREPAYMENT OF eIB LOAN
2018 adjusted ebitda update
Paris (France), 21 December 2018 - Technicolor (Euronext Paris: TCH, OTCQX: TCLRY) announces that it will prepay the European Investment Bank ("EIB") loan of €90 million before year end 2018. The remaining 2023 maturity senior secured term loans are covenant free.
The Group now expects 2018 Adjusted EBITDA (at constant exchange rate vs. 2017) to be in a range of €265 million to €275 million, in line with the consensus to date. This results from continued growth in the Production Services business, in particular in Film & TV Visual Effects division, the acceleration of Connected Home's transformation program and residual revenues from the Patent Licensing business, offsetting a difficult end of the year in the DVD market.
In addition, the Group informs the market that it is not engaged in any strategic discussions including any related to the Connected Home business.
Technicolor, a worldwide technology leader in the media and entertainment sector, is at the forefront of digital innovation. Our world class research and innovation laboratories enable us to lead the market in delivering advanced video services to content creators and distributors. We also benefit from an extensive intellectual property portfolio focused on imaging and sound technologies. Our commitment: supporting the delivery of exciting new experiences for consumers in theaters, homes and on-the-go.
Technicolor shares are on the Euronext Paris exchange (TCH) and traded in the USA on the OTCQX marketplace (OTCQX: TCLRY).
Christophe Le Mignan: +33 1 41 86 58 83