Outdoor media group QMS today reaffirmed its forecast for 2019 earnings.
At the AGM in Sydney, the company told shareholders that 2019 financial year EBITDA (earnings before interest, tax, depreciation and amortisation) was on track to be between $60 million and $62 million.
In its half year results to December, QMS posted a 9% lift to $107.6 million in statutory revenue and underlying EBITDA of $22.7 million.
Ooh!media last week also told shareholders it was sticking by its guidance made in February for underlying EBITDA (Earnings before interest, tax, depreciation and amortisation) of between $152 million and $162 million.
Today QMS told shareholders it has demonstrated an ability to grow in a very dynamic and shifting environment.
"Our three defined business segments of QMS Australia, QMS New Zealand and QMS Sport, sets us apart from our peers and differentiates us given our attractive growth opportunities," says CEO Barclay Nettleford.
"The out of home industry continues to be a leading growth sector within the media landscape and our strong business in QMS Australia, is well positioned for continued growth."
Late last year QMS announced a "strategic realignment" of its business, splitting into three core segments: QMS Media, Mediaworks and QMS Sport.
The announcement followed a decision to merge QMS NZ with Mediaworks in New Zealand.
QMS wants to be the leader in virtual sports signage rights across elite sporting codes.
"QMS New Zealand has continued its positive momentum with the proposed merger with MediaWorks further enhancing our position in that market," Nettleford told the AGM.
"We believe that QMS Sport will be a significant contributor to overall Group performance, with strong committed forward revenues and a full contribution of revenue and earnings this year following our strategic international acquisitions.
"Our focus on quality will continue to deliver long-term revenue and earnings growth to further create sustainable shareholder value."
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