Australia’s oOh!media delivers double digit revenue powered by digital assets

Australia’s OOH major oOh!media Ltd has announced 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). 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.

oOh! continues to invest in its end-to-end digital strategy and its digital revenue penetration leads the market. As well as further digitisation of assets, initiatives during the period included investing in proprietary trading systems to harness its exclusive Quantium insights, which were recently launched to major advertisers in a successful pilot.  These investments are necessary to ensure continued revenue and earnings growth.

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

oOh!media’s CEO, Brendon Cook, 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 enables us to deliver strong group revenue and profit growth.”

“We are executing our end-to-end digital strategy, investing to maintain our market leadership position, and continuing to deliver innovative and effective solutions for advertisers. We will also continue to explore opportunities to further strengthen and develop our new media strategy and enhance shareholder value through organic growth and acquisitions,” Cook said.