JCDecaux revenue up 13.5%

JCDecaux’s UK revenue increased 13.5% to £125m in the first half of 2010, boosted by the addition of Titan’s rail, retail and bus assets, and strong performances in street furniture and billboards, according to the outdoor media company’s half-yearly results

Total group revenue, excluding acquisitions and divestitures and the impact of foreign exchange, rose 8.7% year on year to £1.1bn, while its worldwide earnings before interest and tax (EBIT) increased by 129.7% year on year  from €49.5m (£41.2m) to €113.7m (£94.7m).

JCDecaux’s worldwide revenue at its street furniture division, mainly six-sheets on bus stops, was up 21% year on year to £550.1m, while worldwide revenue at its transport division was also up 21% year on year, totalling £350.8m in the six months to 30 June, though the UK was the only European market not to return to organic growth in the second quarter. Worldwide billboard revenue increased 10% year on year to £209.7m, bolstered by strong organic revenues in the UK.

Jean-Charles Decaux, chairman of the board and co-chief executive, said: "Our H1 2010 numbers reflect a clear improvement in organic revenues driven by our key markets – France, the United Kingdom, China and the US – as advertisers raised their levels of spending and increasingly favoured the quality of JCDecaux’s portfolio.

"While the potential impact of austerity measures on consumption and the global economy remains unclear, short term trading conditions continue to be positive in most markets. As a consequence we anticipate for the third quarter of 2010 organic revenue growth to be at least in line with Q2 despite less favourable comparables."

Source: Media Week

Published on: 30/07/2010 15:26:00