Outdoor media specialist oOh! posted a 10% increase in revenue to $276.1 million for the half year to June.
Adjusted underlying EBITDA was up 62% on the prior corresponding period to $51.5 million.
The company declared declared an interim dividend of 1.5 cents per share fully franked and an on market share buyback of up to 10% of its issued share capital, about $75 million.
Adjusted net profit after tax was $20.4 million compared to $2.2 million for the same period last year. Reported net profit after tax of $6.1 million compared to a loss of $9.3 million.
CEO Cathy O’Connor: “Our strategy remains clear and consistent. As the market leader across Australia/New Zealand, we are exceptionally well placed to capitalise on the growth of Out Of Home as advertisers increase their investment into this media format.
“We continue to implement revenue growth initiatives through leveraging our portfolio of existing assets with continued digital investments in both screens and programmatic and further enhancing our data capabilities.
“That has enabled a strong half year performance with double-digit revenue growth and our strong operating leveraging delivering a 62% uplift in adjusted underlying EBITDA.
“Our strong first half performance has continued into the second half with 3rd quarter revenue pacing at 37% ahead of the prior corresponding quarter last year.
“Our strategy remains focused on oOh! being a more digital and digitised Out Of Home business.
“During the half year period, we launched 378 new digital sites in key locations, including 11 new Road digitals and 21 new and upgraded Retail centres.
“We continue to participate in the emerging programmatic digital Out of Home marketplace with our programmatic revenue more than doubling in the second quarter of CY22 compared to the first quarter.
"We launched our new creative and content innovation hub, Poly, which draws on oOh!’s scale, data and insights to work with advertisers and agencies to push the Out of Home creative boundaries, capture more of consumers’ attention and deliver superior ROI.
“For the medium term, the fundamentals for Out of Home as a growth advertising medium remain compelling and, oOh! remains exceptionally well placed to leverage that growth."
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