Technicolor Creative Studios Société Anonyme
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Capital humain
- Droits humains et conditions de travail
- Changement climatique
- Économie circulaire
- Sécurité des contenus, cyber-risques et respect de la Propriété intellectuelle
- Équité des pratiques commerciales
Social Achievements
- Attracting and developing a diverse community of creative talents.
- Ensuring a safe, healthy and diversity-friendly work environment.
Governance Achievements
- Updated several key policies, including a policy on professional whistleblowing, an anti-corruption policy and manual, and a policy establishing ethical sourcing.
Climate Goals & Targets
Environmental Challenges
- Unprecedented post-Covid recovery challenges and related operational issues leading to increased costs and production delays.
- Significant shortage of experienced talent leading to delays in ongoing projects and the start of new projects.
- Internal restructurings within MPC and The Mill post-Covid-19.
- Significant debt level (IFRS gross debt of €776 million at the end of December 2022).
Mitigation Strategies
- Implementation of the Re*Imagined program focusing on operational management, talent retention/attraction, and performance and cash management.
- Appointment of Caroline Parot as interim CEO and Hugues de Nicolay as interim CFO.
- Appointment of Simon Presswell as interim COO and Transformation Officer.
- Launch of an independent review to analyze the situation and identify areas for improvement.
- Establishment of an ad hoc committee to oversee the independent audit and recovery actions.
- Conclusion of a principle agreement with a large majority of shareholders and lenders on a new financing structure providing approximately €170 million in liquidity.
Supply Chain Management
Climate-Related Risks & Opportunities
Awards & Recognition
- Visual Effects Society (VES) Award
- César Award