oOh!media CEO Cathy O'Connor says the outdoor media specialist is well positioned for 2022 as audiences rebound following the pandemic.
She told an analyst briefing, after releasing 2021 full year results, that the fundamental appeal of OOH as an effective advertising medium remains.
oOh!media reported revenue up 18.1% to $503.73 million in the 12 months to December compared to 2020.
A fully franked dividend of 1 cent a share was declared.
And net debt was $64 million at the end of the year, down 32% from June 30, 2021.
O'Connor says the group’s road (billboard) division continued to be the standout performer. Revenue increased by 34% to $158 million. Following a soft third quarter, which included the New South Wales and Victorian lockdowns, revenue rebounded very strongly in November and December which were both record revenue months for Road.
The company started the new year strongly.
Revenue for the March quarter was pacing 15% higher than the same three months 2021 and at 93% of 2019.
The combined Road, Retail and Street formats across Australia and New Zealand are pacing at +14% higher than Q1 2019 and audience levels in February have returned in aggregate to pre Covid-19 levels
The company says Omicron’s impact on overall demand for advertising media has been limited with the interim January SMI (Standard Media Index) report outlining a 12.7% increase in non-digital media year-on-year.
However, there has been a pronounced impact in audience environments such as Offices and Airports which have seen substantially less foot traffic than pre-Covid
“The strong result is a testament to our strategy. As the market leader across Australia/New Zealand, we are uniquely positioned to capitalise on the audience recovery in OOH," says O'Connor.
“Our scale and diversity across a number of formats means we are also able to deliver this growth despite some formats such as Fly, Office and Rail continuing to be impacted by the pandemic."
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