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Paris, 5 May 2010 – JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company in Europe and Asia-Pacific and the number two worldwide, announced today its revenues for the three months ended 31 March, 2010. On a reported basis, revenues increased by 14.7% to €487.2 million compared to €424.6 million in the same period last year. Excluding acquisitions and the impact of foreign exchange, organic revenues increased by 5.6%, reflecting a marked month on month improvement in business conditions during the quarter across all divisions and most geographies of the Group. Core advertising revenues, excluding revenues related to the sale, rental and maintenance of street furniture products, increased by 6.0% organically.

 

Q1 Revenues2010
(€m)
2009
(€m)

Reported growth (%)

Organic

growth(1) (%)

Street Furniture

245.3

198.6

23.5%

9.0%

Transport

148.7

137.5

8.1%

2.9%

Billboard

93.2

88.5

5.3%

2.1%

Total

487.2

424.6

14.7%

5.6%

(1) excluding acquisitions/divestitures and the impact of foreign exchange

Street Furniture revenues increased by 23.5% to €245.3 million from €198.6 million in the first quarter of 2009, reflecting a strong 9.0% organic revenue growth as well as the contribution of Wall assets mainly in Germany and Turkey and Titan point of sale assets in the UK. Core organic advertising revenues, excluding revenues related to the sale, rental and maintenance of street furniture products, increased by 9.8%.

Most Street Furniture markets returned to growth in the first quarter of 2010 as demand consistently increased, leading to both higher occupancy rates and an improved pricing environment. France reported a low double-digit revenue increase in the first quarter while the United Kingdom experienced a high single-digit organic revenue increase reflecting a clear improvement in the advertising environment. Other European countries were mixed while North America and Asia-Pacific recorded strong revenue increases in the first quarter of 2010.

Transport revenues rose by 8.1% to €148.7 million from €137.5 million in the first quarter of last year. Excluding the acquisitions of transport assets from Titan and Wall and the impact of foreign exchange, organic revenues increased by 2.9%.

During the first quarter of 2010 Transport revenues were back to solid double-digit growth in North America and Asia-Pacific driven by improving economic conditions and increased passenger traffic while most European markets including France and the United Kingdom continued to record negative revenue growth. The Rest of the World also reported negative organic revenue growth reflecting a double-digit revenue decline for Dubai airport due to adverse economic conditions in the country and very high comparables in 2009.

Billboard revenues increased by 5.3% to €93.2 million from €88.5 million in the same period last year. Excluding acquisitions and the impact of foreign exchange, organic revenues were up by 2.1%.

As in the fourth quarter of 2009, Billboard revenues benefitted from a significant rebound in the UK market in the first quarter of 2010. France also experienced some improvement with a mid single-digit organic revenue growth over the quarter. However this has been substantially offset by continued difficulties in most of the other European markets although sequential monthly improvement has been recorded in many markets.

Commenting on the first quarter revenues, Jean-François Decaux, Chairman of the Executive Board and Co-Chief Executive Officer, said:

“Our 2010 first quarter revenues reflect both stronger than expected organic growth as well as a good performance from our recently acquired assets in Germany, Turkey and the UK. JCDecaux’s organic revenue growth rate of 5.6% was mainly driven by our biggest division Street Furniture. France, the UK, North America and Asia-Pacific performed well while the rest of Europe remained mixed.

With trading conditions continuing to improve and visibility starting to increase in most of our markets, we are currently anticipating organic revenue growth of around 9% for the second quarter. Tight cost and capex management also remain key priorities for the Group.”

Contacts

Communication Department :Albert Asséraf+33 1 30 79 37 35communication-jcdecaux@jcdecaux.com
Investor Relations :Rémi Grisard+33 1 30 79 79 93remi.grisard@jcdecaux.com

Published in Investors