- 2011 reported revenues up 4.8% to €2,463.0 million
- 2011 organic revenues up 5.7%
- Fourth quarter reported revenues up 3.6% to €715.9 million
- Fourth quarter organic revenues up 3.3%
Paris, 26 January 2012 – JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announced today its revenues for the full year 2011.
On a reported basis, 2011 revenues increased by 4.8% to €2,463.0 million compared to €2,350.0 million in 2010. Organic revenue growth of 5.7% was mainly driven by the dynamism of the Transport segment in Asia-Pacific and in the Rest of the World, and by the positive performance of the Street Furniture division in key markets such as France and Germany. Core advertising revenues increased by 5.2% organically.
In the fourth quarter of 2011, revenues increased by 3.6% to €715.9 million. Excluding foreign exchange variations and change in perimeter effects, organic revenues increased by 3.3%.
By activity: (see the PDF for more information)
Street Furniture revenues for the full year increased by 2.8% to €1,179.0 million (organic growth: 2.3%). Germany and France posted good performances. North America also delivered a strong organic growth on a like-for-like basis (excluding the impact of the non-renewal of a low-profitability shopping mall contract at the end of 2010), and is starting to benefit from the strong ratings of our networks in the recently launched US Out-Of-Home audience measurement system, Eyes On. This was partially offset by continued weaknesses in Southern Europe and a slight decrease in the United Kingdom. We also note the continued good performance of fast-growing markets such as Turkey, India and Kazakhstan which delivered double-digit growth this year. Core organic advertising revenues, excluding revenues related to the sale, rental and maintenance of street furniture products, increased by 1.7% over the period.
For the fourth quarter, the Street Furniture business only generated a slightly positive organic growth, with France and North America (on a like-for-like basis) maintaining a good pace, the UK recovering after two difficult quarters and Germany showing some softening. As expected, Southern Europe remained challenging.
Transport revenues for the full year increased by 12.5% to €874.8 million, reflecting a very strong organic revenue increase of 15.8%, partially offset by the negative effects of foreign exchange variations and change in perimeter. In 2011, the Transport segment continued to benefit from a solid increase in air passenger traffic worldwide. Our metro activities in China were also boosted by the expansion of existing lines, the construction of new lines and the changing audience profile, with a growing proportion of urban professionals using the network. Fast-growing regions such as Asia-Pacific and the Rest of the World, and also the UK, delivered double-digit performances while North America posted a mid-single digit growth.
During the fourth quarter, Asia-Pacific and the Rest of the World continued to deliver double- digit performances, while North America, France and the UK were less strong than in the previous 9 months.
Billboard revenues for the full year decreased by 3.8% to €409.2 million. Excluding foreign exchange variations and change in perimeter effects, organic revenues decreased by 3.7%.
JCDecaux’s Billboard activities are concentrated in Europe and this segment remained difficult throughout the year, while the completion of inventory rationalization in France and in Southern Europe also pulled revenues downwards. We however noted a slight rebound in Southern Europe during the fourth quarter driven by a good performance in Spain.
Commenting on the Group’s 2011 revenue performance, Jean-François Decaux, Chairman of the Executive Board and Co-Chief Executive Officer, said:
“Our record 2011 revenues confirm our ability to deliver sound organic revenue growth following the strong rebound in 2010. The quality of our Street Furniture business in key markets such as France, Germany and some emerging markets, coupled with the strength of our Transport business with a unique exposure to Asia-Pacific, made a strong contribution to this performance.
As usual, we will provide guidance for Q1 when we release our full-year 2011 results on March, 8th. We can say, however, that our early bookings are encouraging for the first quarter of the year despite significant uncertainty in the global macro-economic environment.
Going forward, we believe we are well positioned to continue to outperform the advertising market and increase our leadership position in the outdoor advertising industry. The high quality and commitment of our teams across the world, the strength of our product portfolio, digital transformation and geographic spread will continue to drive our organic growth and the strength of our balance sheet will allow us to pursue further external growth opportunities as they arise.”
2011 Annual Results: 8 March 2012 (before market)
Key Figures for the Group:
- 2011 revenues: €2,463m
- JCDecaux is listed on the Eurolist of Euronext Paris and is part of the Euronext 100 and Dow Jones Sustainability indexes
- No.1 worldwide in street furniture (427,200 advertising panels)
- No.1 worldwide in transport advertising with 184 airports and nearly 300 contracts in metros, buses, trains and tramways (369,900 advertising panels)
- No.1 in Europe for billboards (226,700 advertising panels)
- No.1 in outdoor advertising in the Asia-Pacific region (239,600 advertising panels)
- No.1 worldwide for self-service bicycle hire
- 1,023,900 advertising panels in more than 50 countries
- Present in 3,600 cities with more than 10,000 inhabitants
- 9,940 employees
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