PARIS: Outdoor advertising company JCDecaux has reported a 11.5% fall in revenues to €1.99 billion ($2.87 billion) in 2009.
Operating margin decreased by 28.7% to €392.0 million with Street Furniture down 24.8% to €298.4 million.
However, the company said for Street Furniture as a percentage of revenues, the second half of the year was higher than for the first half of 2009 “benefitting from the stronger advertising revenues in Q4 as well as the full impact of the measures implemented by the group during 2009.”
The company's transport operating margin decreased by 32.6% to €55.6 million which was driven by the decline in revenues in most regions of the world. Meanwhile, the new airports operated in the rest of the world region contributed positively to the Group operating margin in 2009.
Billboard operating margins decreased by 46.1% to €38.0 million and as a percentage of revenues the operating margin was down to 9.6%, compared to 14.8% in 2008.
"This was mainly due to the revenue decline over the period in all the countries where the group operates," A company statement said.
"Revenue declines were only partly offset by the satisfactory implementation of the cost saving program, targeting most specifically the renegotiation of leases and inventory reduction in some markets."
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