TCS: resumption of quotation down sharply after the results – 03/10/2023 at 10:54


(CercleFinance.com) – Technicolor Creative Studios shares, which had been suspended since Wednesday on the Paris Stock Exchange, resumed a sharp decline on Friday morning following the announcement of annual results weighed down by soaring costs.

Around 10:50 a.m., the TCS stock fell 10.2% after starting the session with losses of nearly 20%.

The group – which says it is facing operational challenges as well as headwinds in its sector – announced this morning a 2022 turnover of 784 million euros, up 30% compared to 2021.

But its adjusted EBITDA after rents for the financial year fell to 20 million euros, compared to 75 million euros for the 2021 financial year, with a margin which melted from 13% to 3%.

The EBITDA figure is perfectly in line with the latest profit forecast that the image specialist had provided for the 2022 financial year, after having already lowered its previous ambitions.

The net loss amounted to 99 million euros in 2022 compared to a net loss of 14 million euros in 2021.

Another worrying figure, cash and cash equivalents as of December 31, 2022 amounted to 38 million euros, for nominal gross debt of 828 million euros.

The quotation of the TCS share had been suspended since Wednesday March 8, the group having reached an agreement in principle for a refinancing of 170 million euros, which must in particular include a recapitalization operation.



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