
“2020 was a reset but we firmly believe that our markets are resilient and will bounce back.”
Nicolas Vanden Abeele, General Manager Entertainment
As a result of contractions in business activity in all regions related to the pandemic beginning in Q2 2020, Entertainment sales declined 36% for the year. The fourth quarter topline evolution however reflects marked recovery mainly driven by projects in the ProAV and cinema markets led by China. During 2020, the cinema activity accounted for approximately 50% of the divisional sales down from 58% in 2019. EBITDA was break-even on the decline in gross profit and a negative operating leverage effect on fixed costs due to weaker divisional sales.
Nicolas Vanden Abeele, General Manager Entertainment