Hold the Presses is your online newsportal en brings press releases from around the world. Journalists can use it for free, although it is their responsibilty to check the news. Hold the Presses is in no way responsible for the content of the press releases, the Sender is. We hope you enjoy reading the news we bring you on this website. If a message is published that is not acceptable, we apologize. Please contact us and we will remove the message as soon as possible.

Tuesday, 30 January 2018

JCDecaux : Full-Year 2017 revenue

JCDecaux    

Published: 17:40 CET 30-01-2018 /GlobeNewswire /Source: JCDecaux / : DEC /ISIN: FR0000077919


 

Full-Year 2017 revenue

  

  • 2017 adjusted revenue up +2.3% to €3,471.9 million

  • 2017 adjusted organic revenue up +3.2%

  • Q4 2017 adjusted revenue up +3.6% to €1,018.5 million

  • Q4 2017 adjusted organic revenue up +6.5%

 

 

Paris, 30th January, 2018 - JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announced today its revenue for the full-year 2017.

 

Following the adoption of IFRS 11 from 1st January, 2014, the operating data presented below is adjusted to include our prorata share in companies under joint control. Please refer to the paragraph "Adjusted data" on page 3 of this release for the definition of adjusted data and reconciliation with IFRS.

 

 

2017 adjusted revenue increased by +2.3% to €3,471.9 million compared to €3,392.8 million in 2016. Excluding the negative impact from foreign exchange variations and the positive impact from changes in perimeter, adjusted organic revenue grew by +3.2%.

Adjusted organic advertising revenue, excluding revenue related to sale, rental and maintenance of street furniture and advertising displays, increased by +3.5% in 2017.

 

Adjusted revenue of the fourth quarter of 2017 increased by +3.6% to €1,018.5 million compared to €982.8 million in Q4 2016. Excluding the negative impact from foreign exchange variations and the positive impact from changes in perimeter, adjusted organic revenue increased by +6.5%.

Adjusted organic advertising revenue, excluding revenue related to sale, rental and maintenance of street furniture and advertising displays, increased by +7.3% in the fourth quarter of 2017.

 

 

By activity:

 

Full-Year  adjusted revenue

2017 (€m)

2016 (€m)

Reported growth

Organic growth(a)

Street Furniture

1,576.2

1,523.7

+3.4%

+4.4%

Transport

1,398.1

1,373.7

+1.8%

+4.5%

Billboard

497.6

495.4

+0.4%

-4.2%

Total

3,471.9

3,392.8

+2.3%

+3.2%

(a) Excluding acquisitions/divestitures and the impact of foreign exchange

 

 

 

Q4 adjusted revenue

2017 (€m)

2016 (€m)

Reported growth

Organic growth(a)

Street Furniture

469.6

456.5

+2.9%

+5.3%

Transport

411.9

387.4

+6.3%

+11.6%

Billboard

137.0

138.9

-1.4%

-3.8%

Total

1,018.5

982.8

+3.6%

+6.5%

(a) Excluding acquisitions/divestitures and the impact of foreign exchange

 

 

 

By geographic area:

 

Full-Year  adjusted revenue

2017 (€m)

2016 (€m)

Reported growth

Organic growth(a)

Europe (b)

931.6

886.2

+5.1%

+5.8%

Asia-Pacific

818.7

819.3

-0.1%

+3.3%

France

612.9

628.8

-2.5%

-2.5%

Rest of the World

450.0

405.3

+11.0%

+2.1%

United Kingdom

362.2

382.2

-5.2%

+1.4%

North America

296.5

271.0

+9.4%

+11.6%

Total

3,471.9

3,392.8

+2.3%

+3.2%

(a) Excluding acquisitions/divestitures and the impact of foreign exchange

(b) Excluding France and the United Kingdom

 

Please note that the geographic comments below refer to organic revenue growth.

 

STREET FURNITURE

Full-year adjusted revenue increased by +3.4% to €1,576.2 million (+4.4% on an organic basis). Europe (including France and the UK) delivered good growth driven by the digitisation of its most iconic cities, as well as North America with the positive impact of the New York Digital Network. Asia-Pacific was up. The Rest of the World showed strong growth.

 

In the fourth quarter, adjusted revenue increased by +2.9% to €469.6 million (+5.3% on an organic basis). Europe (including France and the UK) and Asia-Pacific delivered solid growth. The Rest of the World delivered double-digit growth. North America was down (excluding New York City) due to the lack of digital Street Furniture in Boston, Chicago (now available in 2018, see press release dated 04/12/2017), Greater Los Angeles, San Francisco and Vancouver.

Fourth quarter adjusted organic advertising revenue, excluding revenue related to sale, rental and maintenance of street furniture were up +7.0% compared to the fourth quarter of 2016.

 

TRANSPORT

Full-year adjusted revenue increased by +1.8% to €1,398.1 million (+4.5% on an organic basis). Asia-Pacific was up. Europe (including France and the UK) showed good growth. North America delivered a strong double-digit growth. The Rest of the World was down.

 

In the fourth quarter, adjusted revenue increased by +6.3% to €411.9 million (+11.6% on an organic basis). Europe (including France and the UK) and the Rest of the World delivered solid growth. Asia-Pacific and North America delivered strong double-digit growth.

 

BILLBOARD

Full-year adjusted revenue increased by +0.4% to €497.6 million (-4.2% on an organic basis). Reported growth was fuelled by the contribution of Top Media and OUTFRONT Media Latam. Europe (including France and the UK) was down. The Rest of the World was flat. North America posted a strong double-digit growth.

 

In the fourth quarter, adjusted revenue decreased by -1.4% to €137.0 million (-3.8% on an organic basis). Europe (including France and the UK), the Rest of the World and North America saw negative growth.

 

 

Commenting on the Group's 2017 revenue performance, Jean-François Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said:

 

"2017 was another record year for JCDecaux with revenue at €3,471.9 million. Our full year organic growth rate of +3.2% was boosted by a better than expected Q4 which grew +6.5% on an organic basis. This strong performance reflects a growing contribution from our digital Street Furniture assets and the recovery of our operations in China, combined with an improvement in France, as well as solid revenue growth in the US and in the Rest of Europe. The UK is weakening while the Rest of the World is starting to benefit from the consolidation, especially in Latin America. Overall, our strong exposure to faster-growth markets remains above 35%.

Street Furniture, with a +4.4% organic growth rate, continues to benefit from the ongoing digitisation of our prime portfolio which now represents 14.0% of our Street Furniture revenue. Transport grew +4.5% on an organic basis thanks to the recovery of our operations in China and a growing contribution from digital representing 22.2% of our Transport revenue. Billboard remains challenging in most European countries with an organic revenue decline of -4.2% due to both the lack of consolidation and a smaller contribution of digital which represents only 8.9% of our Billboard revenue. At Group level, digital revenue increased by +35.3% on an organic basis and now account for 16.6% of our total revenue, with only 4 countries, being UK, US, China and Germany, representing 70% of our digital revenue in the world.

2017 was also marked by several strategic contracts wins such as the award of Guangzhou Baiyun airport (Terminal 2) contract in China, 2 contracts in Brazil with São Paulo-Guarulhos airport and São Paulo metro, 2 concessions in Australia with the Yarra trams contract in Melbourne (trams and tram shelters) and the digital payphones contract with Telstra, as well as the Rotterdam Transport and Street Furniture contract. In France, we won several new contracts, of which Nantes and renewed Lyon, Nice and Antibes. We also renewed Brussels airport. At last, driving the consolidation in Latin America, we successfully merged our businesses with América Móvil in October in Mexico, second advertising market of the continent with strong growth perspectives.

As usual, we will provide guidance for Q1 when we release our full-year 2017 results on 8th March, 2018.

In a media landscape increasingly fragmented, out-of-home advertising reinforces its attractiveness. With our strong exposure to faster-growth markets, our growing premium digital portfolio combined with a new data-led audience targeting platform, 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 through profitable market share gains. The strength of our balance sheet is a key competitive advantage that will allow us to pursue further external growth opportunities as they arise."

 

 

ADJUSTED DATA

Under IFRS 11, applicable from 1st January, 2014, companies under joint control are accounted for using the equity method.

However, in order to reflect the business reality of the Group, operating data of the companies under joint control continue to be proportionately integrated in the operating management reports used to monitor the activity, allocate resources and measure performance.

Consequently, pursuant to IFRS 8, Segment Reporting presented in the financial statements complies with the Group's internal information, and the Group's external financial communication therefore relies on this operating financial information. Financial information and comments are therefore based on "adjusted" data which are reconciled with IFRS financial statements.

In Q4 2017, the impact of IFRS 11 on adjusted revenue was -€131.6 million (-€121.2 million in Q4 2016), leaving IFRS revenue at €886.9 million (€861.6 million in Q4 2016).

For the full-year 2017, the impact of IFRS 11 on adjusted revenue was -€432.1 million (-€418.3 million for the full-year 2016), leaving IFRS revenue at €3,039.8 million (€2,974.5 million for the full-year 2016).

 

 

ORGANIC GROWTH DEFINITION

The Group's organic growth corresponds to the adjusted revenue growth excluding foreign exchange impact and perimeter effect. The reference fiscal year remains unchanged regarding the reported figures, and the organic growth is calculated by converting the revenue of the current fiscal year at the average exchange rates of the previous year and taking into account the perimeter variations prorata temporis, but including revenue variations from the gains of new contracts and the losses of contracts previously held in our portfolio.


 

Next information:

2017 annual results: 8th March, 2018 (before market)

 

 

Key Figures for JCDecaux

  • 2017 revenue: €3,472m
  • JCDecaux is listed on the Eurolist of Euronext Paris and is part of the Euronext 100 and Euronext Family Business indexes
  • JCDecaux is part of the FTSE4Good and Dow Jones Sustainability Europe indexes
  • N°1 worldwide in street furniture (559,070 advertising panels)
  • N°1 worldwide in transport advertising with more than 220 airports and 260 contracts in metros, buses, trains and tramways (354,680 advertising panels)
  • N°1 in Europe for billboards (169,860 advertising panels)
  • N°1 in outdoor advertising in Europe (721,130 advertising panels)
  • N°1 in outdoor advertising in Asia-Pacific (219,310 advertising panels)
  • N°1 in outdoor advertising in Latin America (70,680 advertising panels)
  • N°1 in outdoor advertising in Africa (29,820 advertising panels)
  • N°1 in outdoor advertising in the Middle-East (16,230 advertising panels)
  • Leader in self-service bike rental scheme: pioneer in eco-friendly mobility
  • 1,117,890 advertising panels in more than 75 countries
  • Present in 4,280 cities with more than 10,000 inhabitants
  • Daily audience: more than 410 million people
  • 13,030 employees

 

 

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.

 

 

Communications Department: Agathe Albertini

+33 (0) 1 30 79 34 99 - agathe.albertini@jcdecaux.com

Investor Relations: Arnaud Courtial

+33 (0) 1 30 79 79 93 - arnaud.courtial@jcdecaux.com

 



30-01-18 # Q4 2017_UK_vDEF



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: JCDecaux, 17 rue Soyer, Neuilly-sur-Seine FR-92200, France
If you would like to unsubscribe and stop receiving these e-mails click here.