Segment review - Year-to-date performance
| Nine months | Change YoY | |||
| In € million | 2014 | 2015 | At current rate | At constant rate |
| Technology | 331 | 389 | +17.2% | +17.5% |
| Entertainment Services | 909 | 1,075 | +18.2% | +5.9% |
| Connected Home | 1,024 | 984 | (3.9)% | (9.8)% |
| Other | 0 | 0 | ns | ns |
| Group revenues (excluding exited activities) | 2,265 | 2,447 | +8.0% | +0.5% |
| Exited activities | 84 | 51 | (38.7)% | (49.5)% |
| Group revenues | 2,349 | 2,499 | +6.4% | (1.3)% |
Technology revenues reached €389 million in the first nine months of 2015, up 17.2% at current currency compared to the first nine months of 2014, as a result of increased revenues from the MPEG LA pool and ongoing solid performance of the Group's direct licensing programs that benefited from the contribution of new contracts signed in prior quarters, particularly in Digital TV.
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Entertainment Services revenues (excluding exited activities) amounted to €1,075 million in the first nine months of 2015, up 18.2% at current currency compared to the first nine months of 2014. At constant currency, revenues increased 5.9% year-over-year, as strong double-digit revenue growth in Production Services, driven by VFX and Animation activities, more than offset lower DVD Services revenues, despite strongly improved volume trend in the third quarter of 2015.
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Connected Home revenues stood at €984 million in the first nine months of 2015, down 3.9% at current currency compared to the first nine months of 2014. Connected Home has outperformed the market in the first nine months of 2015, recording a solid level of activity despite mixed market conditions and persistent weakness in North America, primarily driven by the consolidation movements experienced in the industry. The Group is confident in its capacity to outperform the market on a full year basis.
Financial Calendar
| FY 2015 Results | 19 February 2016 |
| Q1 2016 Revenues | 29 April 2016 |
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Warning: Forward Looking Statements
This press release contains certain statements that constitute "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions or which do not directly relate to historical or current facts. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Technicolor's filings with the French Autorité des marchés financiers.
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About Technicolor
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, based on a thriving licensing business. Our commitment: supporting the delivery of exciting new experiences for consumers in theaters, homes and on-the-go.
www.technicolor.com - Follow us: @Technicolor - linkedin.com/company/technicolor
Technicolor shares are on the NYSE Euronext Paris exchange (TCH) and traded in the USA on the OTCQX marketplace (OTCQX: TCLRY).
Media Contacts
Sandra Carvalho: +1 323 208 2624
sandra.carvalho@technicolor.com
Investor Relations
Emilie Megel: +33 1 41 86 61 48
Laurent Sfaxi: +33 1 41 86 58 83
1 Exited activities include legacy, Digital Cinema and Media Services activities in the Entertainment Services segment, and IZ-ON in the Other segment.
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