JCDecaux reports strong Q1 2024 performance, exceeding expectations
The company reported a positive performance, exceeding expectations with both overall revenue and organic revenue growth.
JCDecaux, the world's leading outdoor advertising company, this week announced its financial results for the first quarter of 2024. The company reported a positive performance, exceeding expectations with both overall revenue and organic revenue growth.
Q1 2024 Adjusted Revenue: €801.6 million, an increase of 11.1% compared to Q1 2023.
Q1 2024 Adjusted Organic Revenue Growth: 11.0%, exceeding expectations.
Digital Out of Home (DOOH) Revenue Growth: 28.0%, driven by programmatic advertising and increased adoption of JCDecaux's VIOOH SSP and Displayce DSP platforms.
Strong Performance Across All Business Segments: Street Furniture (+9.2% organic growth), Transport (+15.1% organic growth), and Billboard (+7.0% organic growth).
Positive Growth in All Geographies: Double-digit organic revenue growth in the United Kingdom, Asia-Pacific, and Rest of the World.
Q2 2024 Organic Revenue Growth Expectation: Around 12.0%, driven by continued strong digital growth and major sporting events like the Paris Olympics and UEFA Euro 2024.
Jean-François Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, attributed the positive results to the company's continued focus on digital innovation and its leading position in the DOOH market. He expressed confidence in the future of OOH advertising, particularly the fast-growing DOOH segment, and JCDecaux's ability to capitalize on this trend.
The press release includes a breakdown of the financial results, with explanations for some key terms:
- Adjusted Revenue: This figure reflects JCDecaux's revenue after accounting for certain factors like joint ventures using the equity method. It allows for a more accurate comparison of performance across periods.
- Organic Growth: This refers to the revenue growth excluding the impact of foreign exchange rate fluctuations and acquisitions/divestitures. It provides a clearer picture of the company's underlying business performance.
JCDecaux's strong Q1 performance and optimistic outlook for Q2 2024 suggest continued momentum in the outdoor advertising industry, particularly for digital solutions. The company's focus on innovation and its established global presence position it well to benefit from the growing demand for DOOH advertising.