JCDecaux has announced that its revenues for the six months ending June 30 were up 4.8% year on year to €1.067.6 million.
Excluding acquisitions and the impact of foreign exchange, organic revenue growth was 9.5% reflecting a strong second quarter, said the outdoor giant.
Core advertising revenues, excluding revenues related to the sale, rental and maintenance of street furniture products rose by 8.2 % organically over the period.
In the second quarter, consolidated revenues grew by 7.2% to €585.4 million (+11.8% on an organic basis) compared to the same period last year.
With the exception of the United Kingdom, all geographic regions produced robust organic revenue growth over the first half, with particularly strong revenue performances in North America, Asia-Pacific and in the Rest of the World, each of which achieved double digit revenue growth.
Jean-Charles Decaux, chairman of the board and co-chief executive officer, said: “JCDecaux continues to deliver strong revenue growth despite more difficult market conditions. Most European countries produced high single digit revenue growth and Asia-Pacific, North-America and the Rest of the World delivered double digit revenue growth.
“All three of our divisions reported organic revenue growth, reflecting the quality of our advertising assets, the strength of our teams and increased exposure to the emerging markets.
“The operating margin was impacted by the expected decline in the Street Furniture margin due to a record renewal and new contract win period, the weakness of the billboard market and foreign exchange which were not quite offset by the enhanced Transport profitability.
“The ongoing deterioration of macro-economic conditions is likely to impact our growth rate in the second half but we still expect to be within our previously forecast range of organic revenue growth of 6 to 7% in 2008 leading to an increased operating margin for the year.”
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