December 6, 2024
Third quarter 2010 revenues rise 26.9% to €548.1 million reflecting strong organic revenue growth and robust contribution from recent acquisitions
- Paris
Paris, 3 November 2010 – JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company in Europe and Asia-Pacific and the number two worldwide, announced today its revenues for the three months ended 30 September, 2010. On a reported basis, revenues increased by 26.9% to €548.1 million compared to €431.8 million in the same period last year, reflecting a strong organic revenue growth of 11.1% and robust contribution from recent acquisitions - mainly in Germany, Turkey and the UK.
Core advertising revenues increased by 12.4% organically, reflecting strong demand for JCDecaux’s advertising assets in most markets. Transport remained particularly dynamic during the quarter driven by double-digit organic revenue growth in Asia-Pacific and North America. Revenues related to the sale, rental and maintenance of furniture decreased 0.8% during the third quarter of the year.
Reported revenues for the first nine months of 2010 increased by 22.2% to €1,658.7 million compared to €1,357.2 million in the same period last year. Excluding acquisitions and the impact of foreign exchange, organic revenues increased by 9.4% during the first nine months of 2010.
| Q3 Revenues |
|
| Reported growth (%) | Organic growth(1) (%) |
Street Furniture | 250.9 | 202.7 | 23.8% | 7.3% |
Transport | 197.7 | 138.6 | 42.6% | 20.6% |
Billboard | 99.5 | 90.5 | 9.9% | 5.0% |
Total | 548.1 | 431.8 | 26.9% | 11.1% |
| 9-month Revenues |
|
| Reported growth (%) | Organic growth(1) (%) |
Street Furniture | 801.0 | 647.4 | 23.7% | 8.4% |
Transport | 548.5 | 428.6 | 28.0% | 13.6% |
Billboard | 309.2 | 281.2 | 10.0% | 5.5% |
Total | 1,658.7 | 1,357.2 | 22.2% | 9.4% |
(1) excluding acquisitions/divestitures and the impact of foreign exchange
Street Furniture revenues increased by 23.8% to €250.9 million from €202.7 million in the third quarter of 2009 (organic growth: 7.3%). Core organic advertising revenues, excluding revenues related to the sale, rental and maintenance of street furniture products, increased by 8.6% over the period. The contributions from Wall and Titan assets, in Germany, Turkey and the UK were particularly strong.
During the quarter, advertising conditions remained positive and broadly unchanged compared to the second quarter across the different markets of the Group. France, the United Kingdom and the rest of Europe reported mid-single digit organic revenue growth while double-digit organic revenue growth was recorded in North America and in Asia-Pacific.
Transport revenues increased by 42.6% to €197.7 million from €138.6 million in the third quarter of 2009 reflecting a very strong organic revenue increase of 20.6%, an increased contribution from Titan UK assets and positive foreign exchange variations.
During the third quarter, the good organic revenue growth in the Transport division was mainly driven by the strong double-digit revenue growth achieved in Asia-Pacific, North America and France.
Billboard revenues increased by 9.9% to €99.5 million from €90.5 million in the third quarter of 2009. Excluding acquisitions and the impact of foreign exchange, organic revenues increased by 5.0%.
During the third quarter, the Billboard division continued to benefit from strong demand in the United Kingdom and also from significant improvements in Central and Eastern Europe which previously had been lagging the advertising recovery. French billboard operations were softer in the third quarter of the year reflecting tougher comparables and ongoing optimization of the inventory.
Commenting on the third quarter revenues and prospects for 2010, Jean-Charles Decaux, Chairman of the Executive Board and Co-Chief Executive Officer, said:
“Record quarterly revenue growth of nearly 27% reflects a strong organic advertising performance and a robust contribution from the recent acquisitions of Wall and Titan UK.
Advertising markets in most key geographies remain positive and while tougher comparables will limit organic revenue growth in the fourth quarter, Group quarterly organic revenue will be close to its peak Q4 2008 level. We currently anticipate organic revenue growth of around 8% for the full year.
We are also pleased to have been able to announce a number of recent contract gains including the Saudi Arabian airports and Singapore Changi which will further strengthen our platform for 2011 and beyond. Combined with ongoing innovations and selective digitalisation we believe that JCDecaux is increasingly well placed to continue to outperform the broader media market.”
Next information: Q4 2010 revenues: 27 January 2011 (after market)