Outdoor advertising giant JCDecaux announced this morning that revenues for the first half of this year grew by 4.5% to â‚Ź792.3 million, spurred on by the European advertising recovery in quarter two.
For the six month period ending 30 June 2004, the street furniture division performed strongly, growing by 5.5% year-on-year to over â‚Ź430 million. The transport sector also had a good recovery during the six months, growing by 8.1% to generate revenue of â‚Ź146 million, while billboard was up slightly at 0.2% increasing revenue to â‚Ź215.4 million.
The most significant improvement for JCDecaux was during quarter two when the European advertising recovery took hold. All three sectors saw a marked turnaround in revenues, especially transport which was up 15.1% on the same period last year.
| Reported Revenues |
|
| |
|
|
|
|
|
|
|
|
|
| (â‚Ź m) |
2004 |
2003 |
Change (%) |
| Revenues |
Q1 |
Q2 |
Q3 |
Q1 |
Q2 |
Q3 |
Q1 |
Q2 |
H1 |
| Street Furniture |
197.5 |
233.3 |
430.8 |
191.5 |
216.6 |
408.2 |
3.1% |
7.7% |
5.5% |
| Billboard |
96.4 |
119.0 |
215.4 |
96.7 |
118.2 |
214.9 |
-0.3% |
0.7% |
0.2% |
| Transport |
65.0 |
81.1 |
146.1 |
64.7 |
70.5 |
135.1 |
0.5% |
15.1% |
8.1% |
| Total |
358.9 |
433.4 |
792.3 |
352.9 |
405.3 |
758.2 |
1.7% |
6.9% |
4.5% |
Chairman and co-chief executive officer, Jean-Charles Decaux said: “Quarter two revenue growth demonstrates how fast our street furniture business can benefit from an improvement in European advertising, as well as the growing contribution from new street furniture contracts in the United States and Asia-Pacific.”
Over the full-year, Decaux confirmed that he expects to see organic revenue growth of 3% – 5% over the full year of 2004, with this leading to further improvement in profitability.
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