Hit by an explosion in the cost of its debt but also restructuring expenses and production delays, Technicolor Creative Studios (TCS), in the phase of a last-ditch bailout, widened its losses in 2022.
The visual effects specialist for films and series and animation recorded 99 million euros in net losses last year, compared to a 14 million deficit in 2021. Its net interest charges more than doubled to reach 43 million euros in 2022. After several “profit warnings” since its IPO at the end of September, the group anticipates that its restructuring costs will continue to climb this year to stand at 40 million euros, once morest 24 million in 2022 and only 5 million in 2021.
