Technicolor announced a 'robust performance' in 2012 for the entire group, reporting a 2.2% rise in constant scope and currency to €3,580 million, from €3,450 million in 2012. The 2011 net loss of €324 million was reduced to €22 million in 2012.

The company would have posted a profit of €17 million if it was not for the €38.6 million EU antitrust fine. For recollection, the European Commission has imposed a record €1.47 billion fine on seven electronics manufacturers for rigging the market for cathode ray tubes used in television sets and computer monitors.

A total of 1.454 billion discs (DVD, Blu-ray, Games, Software & Kiosk) were replicated in 2012 versus 1.540 billion in 2011, which benefited from several successful Harry Potter-related releases.

Some 1,160 million DVDs were manufactured in 2012, down from 1,270 million units in 2011 - a 9% fall. As for Bu-ray discs, 182 million were pressed last year - a 19% increased over 2011's 152 million units. The growth of the high definition format is unabated with volumes up 27% in the fourth quarter of 2012, following a 25% increase in the third quarter of 2012.

For the full year 2012, adjusted EBITDA margin for the DVD Services division (all formats combined) remained stable, despite an 8% year-on-year contraction in revenues and a slight margin decline in the second half of 2012. This performance was driven by multiple factors, including "an improved products mix, the positive impact of ongoing cost-savings initiatives and efficiency improvement programmes, and reduction of offload, which offset specific customer price reductions."

Technicolor says the DVD Services division posted "solid free cash flow generation in the second half of 2012, largely due to continuing focus on cost savings and tight management of working capital requirements."

Story filed 22.02.13