technicolor - 2018 Registration document

OPERATING AND FINANCIAL

REVIEWAND PROSPECTS

2.1 2.2 2.2.1 2.2.2 2.2.3 2.2.4 2.2.5 2.2.6 2.2.7 2.2.8 2.2.9

2.3 2.3.1 2.3.2 2.3.3 2.4

SUMMARY OF RESULTS

30

LIQUIDITY AND CAPITAL RESOURCES

37 37 38 39 41 41 41

Overview Cash flow

RESULTS OF OPERATIONS FOR 2017

AND 2018

30

Financial resources

Analysis of revenues from continuing operations

31 33

STRATEGY UPDATE AND GUIDANCE

Analysis of Adjusted EBITDA

Analysis of operating expenses and profit (loss) from continuing operations before tax and net financial expense

Strategy update

Guidance

33 34 34 35 35 35 35

2.5

Net financial expense

EVENTS SUBSEQUENT TO DECEMBER 31, 2018

41

Income tax

Profit (loss) from continuing operations Profit (loss) from discontinued operations

Net income (loss) of the Group

Adjusted indicators

2018 ADJUSTED EBIDTA FROM CONTINUING OPERATIONS Entertainment Services 178 million euros Connected Home 87 million euros Corporate & Others 1 million euros

29

TECHNICOLOR REGISTRATION DOCUMENT 2018