Thomson's 2000 CE Revenue Increases 37%
By Jeff Malester -- TWICE, 2/26/2001
PARIS -Driven primarily by digital products, revenue for the Consumer Products segment of the Thomson Multimedia Group jumped 36.8 percent in 2000, reaching $6.6 billion, compared with $4.8 billion in 1999.
Earnings before interest and taxes (EBIT) for the Consumer Products segment in 2000 soared 90.3 percent to $166.2 million, compared with $87.3 million in 1999. Operating margin reached 2.5 percent, up 70 basis points, with this improvement reflecting the continued focus on high-end products and the impact of restructuring and re-engineering programs, which will also be felt in 2001.
In 2000, the Consumer Products segment experienced strong growth in DVDs, both in the United States and in Europe, with 1.4 million units shipped, compared with 0.8 million units in 1999. In color television, the segment enjoyed successful cooperation with large retailers of digital products in the United States, said Thomson.
During the fourth quarter, the Consumer Products segment reported a 26 percent growth percentage, compared with the same quarter in 1999, recording market-share gains in the United States and Europe.
With Thomson seizing opportunities resulting from its digital transition and a continued focus on operational performance, the overall company reported consolidated full-year 2000 revenue of $8.9 billion, a 36 percent increase, compared with the $6.5 billion recorded in 1999. During the fourth quarter, the Thomson Group posted strong revenue growth of 24.6 percent.
Thomson's net result for 2000 climbed 70 percent to $365.0 million, compared with $215.0 million in 1999. Net margin was 4.3 percent of revenue, compared with 3.5 percent in 1999. The consolidated net result for 2000 includes a financial result of $72.3 million and a non-current result of $86.4 million, composed principally of a $98.6 million restructuring provision intended to increase productivity this year.
Thomson expects a level of activity during the first quarter this year comparable to the very strong first quarter of 2000, and it expects to post double-digit growth in revenue and EBIT for the full year.
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