TECHNICOLOR_REGISTRATION_DOCUMENT_2017

- 2 OPERATING AND FINANCIAL REVIEW AND PROSPECTS Results of operations for 2016 and 2017

2017 (10) (63) (43)

2016

Change (1)

(in million euros unless otherwise stated)

Profit (Loss) from continuing operations before tax and net finance costs / EBIT (a)

76

(86)

Total adjustments on EBIT (b) Of which restructuring costs, net

(56) (44) (13)

(7) +1 +4

Of which net impairment losses on non-current operating assets

(9) (11)

Of which other income/(expense)

1

(12) (79)

Adjusted EBIT from continuing operations (a)-(b)

53

132

As a % of revenues

1.2%

2.9%

(170) bps

Depreciation & amortization

238 291

227 359

+11

Adjusted EBITDA from continuing operations

(68)

As a % of revenues

6.9%

7.8%

(90) bps

Adjusted EBITDA of discontinued activities Adjusted EBITDA used for covenants

80

204 563

(124) (192)

371

Year-on-year change at current currency. (1)

2017 (10)

2016

Change

(in million euros unless otherwise indicated)

Profit (Loss) from continuing operations before tax and net finance costs

76

(86)

As a % of revenues

(0.2)%

1.6%

(180) bps

of which: Entertainment Services As a % of revenues Connected Home As a % of revenues Corporate & Other of which: Entertainment Services As a % of revenues Connected Home As a % of revenues Corporate & Other of which: Entertainment Services As a % of revenues Connected Home As a % of revenues Corporate & Other As a % of revenues As a % of revenues

53

76

(23)

2.9%

3.9%

(90) bps

29

113

(84)

1.2% (92)

4.3% (113)

(310) bps

+21

Adjusted EBIT from continuing operations

53

132

(79)

1.2%

2.9%

(160) bps

76

88

(12)

4.2%

4.5%

(20) bps

61

148

(87)

2.5% (84)

5.6% (104)

+20

Adjusted EBITDA from continuing operations

291

359

(68)

6.9%

7.8%

(90) bps

230

238

(7)

12.9%

12.1%

+80 bps

137

218

(81)

5.7% (76)

8.3% (97)

(260) bps

+21

39

TECHNICOLOR

REGISTRATION DOCUMENT 2017