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  • 2012 reported revenues up 6.5% to €2,622.8 million
  • 2012 organic revenues up 1.5%
  • Fourth quarter reported revenues up 4.3% to €746.6 million
  • Fourth quarter organic revenues up 0.2%

Paris, 24 January 2013 – JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announced today its revenues for the full-year 2012.

  • On a reported basis, 2012 revenues increased by 6.5% to €2,622.8 million from €2,463.0 million in 2011. Organic revenue growth of 1.5% was mainly driven by the strength of the Transport business in our key markets especially Asia-Pacific, the Rest of the World, the UK and France. Street Furniture revenues were broadly flat in France and the UK, while most other European geographies showed continued weakness throughout the year and North America enjoyed good growth. Billboard was difficult in most of our European markets.
  • Core advertising revenues, excluding revenues relating to the sale, rental and maintenance of street furniture products grew 1.5% organically during 2012.

Reported revenues for the fourth quarter increased by 4.3% to €746.6 million compared to €715.9 million in 2011. Excluding foreign exchange variations and change in perimeter effects, organic revenues were slightly positive, better than anticipated at the time of our Q3 revenue release in November.

  • Street Furniture
  • Full-year revenues decreased by 0.7% to €1,171.3 million (organic growth: -1.9%). In a difficult macro-economic environment, France was slightly up, the UK posted broadly flat revenues while in Europe, revenues in Germany declined low single-digit and Southern Europe fell by double-digit. North America revenue increased by mid single-digit with a particularly strong first half. Asia-Pacific also showed a mid single-digit increase and the Rest of the World delivered a high single-digit growth.
  • During the fourth quarter, Street Furniture organic revenues decreased by 4.2%. Our main markets were negative, with the exception of Germany which saw low single-digit growth. Southern Europe remained very challenging.
  • Transport
  • Another year of strong performance saw the Transport revenues grow by 15.7% in 2012, to €1,012.5 million (organic growth: 8.9%).
  • The UK benefited from the Olympic Games with a strong double-digit growth in 2012. France showed a high single-digit growth, reflecting the success of our new digital offer in the Paris airports. The situation in Southern Europe continued to be difficult. Asia-Pacific saw another strong year with double-digit organic revenue growth in spite of difficult comparables and some softening in the economic environment. This was helped by the strong performance of the Chinese metros, Hong Kong MTR and Singapore/Changi Airport. In addition, the introduction of the VAT and the suppression of the business tax in China in 2012 had a one-off negative effect on our organic growth, with a -1.8% impact on Asia-Pacific for the year, but no impact on the operating margin or below.
  • Despite a positive Q4, North America showed a mid single-digit decline in 2012, following the non-renewal of certain long-term advertising campaigns. In the Rest of the World, the Dubai and Saudi airports continued to perform very well, leading to a strong double-digit growth in the region.
  • In the fourth quarter, organic revenues increased by 10.3% with France, the UK, Asia-Pacific and the Rest of the World seeing double-digit increases. North America was up high single-digit. This was partially offset by Europe where revenues were slightly down.
  • Billboard
  • 2012 Billboard revenues increased by 7.3% to €439.0 million (-4.8% on an organic basis). The difference between reported and organic growth is mainly due to the redistribution of certain panels into the Billboard segment following a legal reorganization of the French business. With our Billboard activities being mainly concentrated in Europe, this segment remained difficult throughout the year. While the UK benefited from the Olympic Games in London, France and Europe saw single-digit revenue declines, with Southern Europe being particularly challenging.
  • In the fourth quarter, organic revenues decreased by 8.5%, with European markets continuing to be difficult, particularly in Southern Europe.
  • Commenting on the Group’s 2012 revenue performance, Jean-Charles Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said:
  • JCDecaux achieved another year of record revenues boosted by the on-going strength of our emerging market business. However despite good resilience in France and a strong performance in the UK driven by the Olympics, the negative effect of the European recession continued to impact our organic growth. The excellent performance of our Transport division (now 39% of our total revenues) which is strongly exposed to growth economies and digital displays, was somewhat offset by the impact on Street Furniture and Billboard of the contraction of many European economies, with Billboard being also affected by an increased pressure on price.
  • 2012 was also marked by a number of strategic developments such as the win of a 25-year contract for digital advertising clocks in São Paulo, the win of US's first large-scale digital billboard network contract with the City of Chicago and the projected acquisition of 25% of Russ Outdoor, the largest outdoor advertising company in Russia. This demonstrates the consistency of the Group in pursuing its strategic goals and expanding its presence in large markets.
  • As usual, we will provide guidance for Q1 when we release our full-year 2012 results on March 7th.
  • Looking forward, we remain convinced that out-of-home retains its strength and attractiveness in an increasingly fragmented media landscape. With our accelerating exposure to fast growing markets, our growing digital portfolio, our ability to win new contracts and the high quality of our teams across the world, we believe we are well positioned to outperform the advertising market and increase our leadership position in the outdoor advertising industry. The strength of our balance sheet is a key competitive advantage that will allow us to pursue further external growth opportunities as they arise.

Next information: 2012 Annual Results: 7 March 2013 (before market)

  • Forward looking statements
  • This news release may contain some forward-looking statements. These statements are not undertakings as to the future performance of the Company. Although the Company considers that such statements are based on reasonable expectations and assumptions on the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual performance to differ from those indicated or implied in such statements.
  • These risks and uncertainties include without limitation the risk factors that are described in the annual report registered in France with the French Autorité des Marchés Financiers. Investors and holders of shares of the Company may obtain copy of such annual report by contacting the Autorité des Marchés Financiers on its website www.amf-france.org/ or directly on the Company website www.jcdecaux.com.
  • The Company does not have the obligation and undertakes no obligation to update or revise any of the forward-looking statements.

Key figures

  • 2012 revenues: €2,623m
  • JCDecaux is listed on the Eurolist of Euronext Paris and is part of the Euronext 100 index
  • No.1 worldwide in street furniture (426,200 advertising panels)
  • No.1 worldwide in transport advertising with 175 airports and 280 contracts in metros,
  • buses, trains and tramways (367,800 advertising panels)
  • No.1 in Europe for billboards (208,500 advertising panels)
  • No.1 in outdoor advertising in the Asia-Pacific region (202,200 advertising panels)
  • No.1 worldwide for self-service bicycle hire
  • 1,013,500 advertising panels in more than 55 countries
  • Present in 3,700 cities with more than 10,000 inhabitants
  • 10,300 employees

Contacts

Communication Department :Albert Asséraf+33 1 30 79 37 35communication-jcdecaux@jcdecaux.com
Investor Relations :Rémi Grisard+33 1 30 79 79 93remi.grisard@jcdecaux.com

Published in Investors