In a statement Technicolor said that it is not engaged in any strategic discussions including any related to the Connected Home business.
The announcement was part of a statement that the company will prepay the European Investment Bank loan of €90 million before year end 2018. The remaining 2023 maturity senior secured term loans are covenant free.
The new statement updates comments that Technicolor has confirmed it is in talks after reports circulated suggesting the French digital media company was looking at a full or partial sale of its business.
The Group now expects 2018 Adjusted EBITDA (at constant exchange rate vs. 2017) to be in a range of €265 million to €275 million, in line with the consensus to date.
This results from continued growth in the Production Services business, in particular in Film & TV Visual Effects division, the acceleration of Connected Home’s transformation program and residual revenues from the Patent Licensing business, offsetting a difficult end of the year in the DVD market.
