Press Release

                          First quarter 2024 revenues
                           Sales down 20% as reported
                             Accelerating synergies
           now estimated (net of costs) at 40 million euros for 2024
                  and over 200 million euros from 2026 onwards
                               GUIDANCE CONFIRMED

Paris (France), April 24, 2024 - Vantiva (Euronext Paris: VANTI) today announced
its unaudited sales for the first quarter of 2024.
"Connected Home" sales fell by 21.7% over the quarter, despite the integration
of the Home Networks business in 2024 and the contribution of the
diversification activities. This is due to a strong first quarter in Q1 2023,
destocking in the sector and a slowdown in capex from operators.
"Supply Chain Solutions" sales were down 13.2%.

  * Group sales totaled 458 million euros for the quarter, down 20% as reported
    (-19.1% at constant exchange rates).
  * The contribution of Connected Home was 358 million euros, down 21.7% after
    the integration of the Home Networks business for 2024 (-20.8% at constant
    exchange rates). This amount includes 18 million euros of revenues from the
    diversification activities.
  * The contribution from SCS was 100 million euros, down 13.2% (-12.4% at
    constant exchange rates).
  * Vantiva accelerates the implementation of synergies linked to the
    integration of Home Networks and continues to optimize "Supply Chain
    Solutions".
  * The group is now targeting 40 million euros in synergies (net of costs) by
    2024, linked to the integration of Home Networks.

* Synergy potential much greater than initially expected and estimated at over

    200 million euros from 2026 onwards compared to over 100 million euros
    initially expected.
  * The 2024 guidance is confirmed.

Luis Martinez-Amago, group Managing Director, comments:
"As expected, the first quarter was very weak, due to the general slowdown in
demand against a backdrop of persistently high inventories, and we had prepared
ourselves accordingly. The basis for comparison is also unfavorable, since Q1
23 was a strong quarter, stemming from a cycle of high demand due to the
precautions taken during the chip crisis, with an exceptional level of activity
at some of our strategic customers. The scale of the slowdown is in line with
our forecasts and justifies the strong adjustment measures we are currently
deploying. We expect business to pick up gradually in the second quarter and
second half of the year. The integration of Home Networks is proceeding
according to plan and will generate the expected synergies more rapidly than
anticipated, enabling the group to defend its profitability in this market
context, and to be ready to benefit from the market recovery".
I- Q1 2024 sales
In EUR million, Current exchange Constant exchange continuing operations Q1 2024 Q1 2023 rates rates
-------------------------------------------------------------------------------
Revenue 458 573 -20.0% -19.1%
First quarter highlights
The downturn in "Connected Home" sales is in line with our forecasts at the
start of the year. It can be explained by a first quarter 2023 which saw an
exceptional level of deliveries with some of our biggest customers, both Vantiva
and Home Networks. The return to normal with these customers and a general
downturn in business, linked to the need to clear inventories, are therefore at
the root of this downturn. A sequential improvement is expected from the second
quarter of 2024 onwards.
The integration of the Home Networks business is proceeding according to plan,
and the group is accelerating the implementation of synergies, which should
reach, net of costs, around 40 million euros by 2024 and exceed 200 million
euros from 2026 onwards.
The "SCS" business also saw a decline in sales, albeit more contained.
Diversification activities helped limit the impact of the structural decline in
demand for optical disks.
The 2024 guidance is confirmed.
Outlook
The group confirms its guidance for fiscal 2024:

  * EBITDA > EUR140 million
  * FCF((1)) > EUR0 million

((1) )After interest and taxes and before restructuring and Home Networks acquisition costs
II- Analysis by division and highlights
Connected Home
Breakdown of sales by product
In EUR million, continuing Current exchange Constant exchange operations Q1 2024 Q1 2023 rates rates
-------------------------------------------------------------------------------
Revenue 358 458 -21.7% -20.8%
Of which by product

 Broadband                    212     380        -44.2%            -43.7%
 Video                        127     77        65.2 %             67.5%
 Diversification              18       0           ns

"Connected Home" sales totaled 358 million euros in the first quarter, down
21.7% despite the contribution of Home Networks activities for 2024, and
accounted for 78% of group sales (80% in Q1 2023). At constant exchange rates,
the decline would have been 20.8% compared with Q1 2023 as reported.
Sales were impacted by continued weak activity due to order reductions by our
customers in a context of destocking, and also by a particularly high basis for
comparison due to an exceptional level of deliveries with certain strategic
customers in North America and Europe.
The integration of Home Networks explains the sharp rise in Video sales.
Diversification activities contributed 18 million euros, and the group signed
new contracts for its "Internet of Things" (IoT) activities.
Supply Chain Solutions
In EUR million, Current exchange Constant exchange continuing operations Q1 2024 Q1 2023 rates rates
-------------------------------------------------------------------------------
Revenue 100 115 -13.2% -12.4%
First quarter SCS sales totaled 100 million euros, representing 22% of group
sales (20% in Q1 2023). This represents a 13.2% decline compared with Q1 2023,
and at constant exchange rates would have been down 12.4%. This variation is the
result of contrasting trends: demand for optical discs continues to fall, but is
partially offset by price increases, while sales of vinyl discs and logistics
services have risen.
###
Warning: Forward Looking Statements
This press release contains certain statements that constitute "forward-looking
statements", including but not limited to statements that are predictions of or
indicate future events, trends, plans or objectives, based on certain
assumptions or which do not directly relate to historical or current facts. Such
forward-looking statements are based on management's current expectations and
beliefs and are subject to a number of risks and uncertainties that could cause
actual results to differ materially from the future results expressed,
forecasted, or implied by such forward-looking statements. For a more complete
list and description of such risks and uncertainties, refer to Vantiva's filings
with the French Autorité des marchés financiers (AMF). The Universal
Registration Document (Document d'enregistrement universel) for fiscal year
2022 was filed with the Autorité des marchés financiers on April 26, 2023, under
no. D.23-0337, and an amendment was filed with the Autorité des marchés
financiers on December 8, 2023, under no. D.23-0337-A01.
###
About Vantiva
Pushing the Edge
Vantiva shares are admitted to trading on the regulated market of Euronext Paris
(VANTI).
Vantiva, formerly known as Technicolor, is headquartered in Paris, France. It is
an independent company which is a global technology leader in designing,
developing and supplying innovative products and solutions that connect
consumers around the world to the content and services they love - whether at
home, at work or in other smart spaces. Vantiva has also earned a solid
reputation for optimizing supply chain performance by leveraging its decades-
long expertise in high-precision manufacturing, logistics, fulfillment and
distribution. With operations throughout the Americas, Asia Pacific and EMEA,
Vantiva is recognized as a strategic partner by leading firms across various
vertical industries, including network service providers, software companies and
video game creators for over 25 years. The group's relationships with the film
and entertainment industry goes back over 100 years by providing end-to-end
solutions for its clients.
Following the acquisition of CommScope's Home Networks in January 2024, Vantiva
continues its 130-year legacy as a global leader in the connected home market.
Vantiva is committed to the highest standards of corporate social responsibility
and sustainability across all aspects of their operations.
For more information, please visit vantiva.com (https://www.vantiva.com/) and
follow Vantiva on LinkedIn (https://www.linkedin.com/company/vantiva/) and
Twitter (https://twitter.com/vantiva).
Contacts
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investor.relations@vantiva.com
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