oOh!media HY17 results: Earnings up as digital revenue surges

More than half of group revenue is derived from digital assets

oOh!media has reported double-digit gains in revenue (+18.0%) and underlying EBITDA (+27.0%), further margin expansion, and a 4.5c interim dividend (+12.5%) for the half year ended 30 June 2017 (HY17).

Revenue was $173.0m (HY16: $146.6m), up 18.0%, and underlying EBITDA was $34.0m (HY16: $26.8m), up 27.0%.

For the first time, more than half of group revenue is derived from digital assets. During HY17, oOh! introduced a further 40 large format, premium-located digital screens across all products, taking the total of such screens to 230, and more than 1,800 retail small format screens.

The three acquisitions made during the second half of 2016 were integrated during HY17, and contributed almost half of group revenue and operating cost growth.

oOh!media’s CEO Brendon Cook (pictured) said: “oOh!’s strong performance reflects both the sector’s strength and further market share gains by oOh! in its key product categories. We offer advertisers a portfolio of products whose complementarity and diversity enable us to deliver strong group revenue and profit growth.”

Full year 2017 guidance reaffirmed EBITDA of $88-$92m and capex spend of $35-40m.

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