Paris, 29 January 2008 - JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company in Europe and Asia-Pacific and the number two worldwide, announced today 2007 revenues of €2,106.6 million, an increase of 8.2% compared with 2006. Excluding acquisitions and the impact of foreign exchange, organic revenue growth was 8.8%, well ahead of the expected growth in the global advertising market in 2007. High-single or double-digit organic revenue growth was reported in all geographic areas for the year with the exception of France, which produced however a good improvement from the third quarter and achieved overall a satisfactory yearly performance, given the deregulation of TV for the retail market.
In the fourth quarter, consolidated revenues grew by 6.3% to €599.7 million (+9.6% on an organic basis) compared to the same period last year. Organic revenues grew faster than reported revenues due to a weaker US dollar, British pound and Hong Kong dollar versus the euro compared to the same period last year. These revenues reflect the continued strong double-digit organic revenue increase from Transport, and solid performances from Street Furniture and Billboard over the quarter. Geographically, France showed an improvement in October and November and there was an acceleration in organic revenue growth in North America.
By activity:
Full Year
Revenues
|
2007
(€m)
|
2006
(€m)
|
Reported growth (%)
|
Organic growth(1) (%)
|
| Street Furniture
|
1,042.8
|
984.1
|
6.0%
|
5.5%
|
| Transport
|
574.1
|
507.7
|
13.1%
|
16.7%
|
| Billboard
|
489.7
|
454.6
|
7.7%
|
7.3%
|
| Total Group
|
2,106.6
|
1,946.4
|
8.2%
|
8.8%
|
| Q4 Revenues
|
2007
(€m)
|
2006
(€m)
|
Reported growth (%)
|
Organic growth(1) (%)
|
| Street Furniture
|
305.4
|
289.8
|
5.4%
|
6.7%
|
| Transport
|
163.5
|
150.8
|
8.4%
|
17.7%
|
| Billboard
|
130.8
|
123.7
|
5.7%
|
6.1%
|
| Total Group
|
599.7
|
564.3
|
6.3%
|
9.6%
|
By geographic area:
Full Year
Revenues
|
2007
(€m)
|
2006
(€m)
|
Reported growth (%)
|
Organic growth(1) (%)
|
| France
|
589.1
|
580.4
|
1.5%
|
1.5%(2)
|
| United Kingdom
|
301.4
|
265.3
|
13.6%
|
15.4%
|
| Rest of Europe
|
759.0
|
692.7
|
9.6%
|
8.1%
|
| Asia-Pacific
|
285.5
|
251.9
|
13.3%
|
17.6%
|
| North America
|
153.4
|
140.7
|
9.0%
|
14.5%
|
| Rest of the world
|
18.2
|
15.4
|
18.2%
|
10.6%
|
| Total Group
|
2,106.6
|
1,946.4
|
8.2%
|
8.8%
|
(1) Excluding acquisitions/divestitures and the impact of foreign exchange (2) Core advertising revenues in France increased by 2.4% organically in 2007
Street Furniture revenues for the full year grew by 6.0% to €1,042.8 million. Excluding acquisitions and the impact of foreign exchange, organic revenue growth was 5.5%. Core advertising revenues, excluding revenues related to the sale, rental and maintenance of Street Furniture contracts, increased by 6.5% organically.
In the fourth quarter, revenues increased by 5.4% to €305.4 million (+6.7% on an organic basis) compared to the same period last year. Core advertising revenues, excluding revenues related to the sale, rental and maintenance of street furniture contracts, rose by 7.0% organically. In Europe, double-digit organic revenue increases were reported in Scandinavia, Central and Eastern Europe, the Netherlands and Italy, and solid growth was seen in Spain. While solid growth was also achieved in France, there was a slight reduction in revenues in the United Kingdom. Solid growth was reported in North America and continued double-digit revenue growth was achieved in Asia-Pacific and the Rest of the World.
Transport revenues for the full year increased by 13.1% to €574.1 million. Excluding acquisitions and the impact of foreign exchange, organic revenues grew by 16.7%.
In the fourth quarter, revenues increased by 8.4% to €163.5 million (+ 17.7% on an organic basis). Double-digit organic revenue growth was again achieved in a number of markets including Scandinavia, Austria and Portugal. Solid growth was reported in France, Spain and Italy. China and the United States, which continued to benefit from rising revenues from the Los Angeles Airport advertising program, also again achieved double-digit organic revenue growth.
Billboard revenues for the full year increased by 7.7% to €489.7 million. Excluding acquisitions and the impact of foreign exchange, organic revenues grew by 7.3%.
In the fourth quarter, revenues increased by 5.7% to €130.8 million (+ 6.1% on an organic basis). Double digit growth was recorded in Central and Eastern Europe over the period while revenue progression remained solid in the United Kingdom, Ireland, Spain and Belgium. In France, revenues were flat over the quarter.
Commenting on the Group’s 2007 revenue performance, Jean-François Decaux, Chairman of the Executive Board and Co-CEO, said: “These strong group revenue figures reflect good performances across all three of our divisions and a good geographical balance. With underlying annual organic growth of 8.8%, JCDecaux’s performance should be well ahead of the growth in the global advertising market in 2007. Importantly, most of our geographic areas have produced high single or double digit organic revenue growth, and France had a good performance considering the deregulation of TV advertising for the retail sector. All this reflects the continued outperformance of outdoor advertising compared to other traditional media, the quality of our teams, of our advertising assets worldwide and the benefits of our accelerating expansion in fast-growing emerging markets. As in previous years, we will give our guidance for 2008 when we issue our 2007 results on 12 March but in the meantime, we can already confirm we are confident that we will continue to outperform the current expected growth in the world advertising market in 2008.”
Next information: 2007 Annual Results: 12 March 2008 (before market)
