oOh!media Exceeds Forecasts, Records Net Profit Of $28.5 Million For 2015

oOh!media Exceeds Forecasts, Records Net Profit Of $28.5 Million For 2015
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oOh!media has come out swinging, with its revenue for 2015 climbing five per cent in front of the Prospectus forecast.

The pro forma adjusted net profit after tax sat around $28.5 million, a figure that exceeds the forecasts by over 28 per cent, and jumped 56.8 per cent up compared to the previous year.

Pro forma revenue for the out-of-home company was at $279.8 million, a 7.3 per cent increase on the previous year, while its pro forma EBITDA was up 37 per cent year-on-year to $57.7 million.

Digital revenue for the company jumped 47 per cent on the previous year, representing a whopping 31.9 per cent of the total Group revenue.

oOh!media’s CEO Brendon Cook said the company had delivered significant profit growth and margin expansion while hitting some major operational milestones.

“oOh!media achieved significant inventory growth in 2015 through contract wins and extensions and strategic acquisitions. We secured 145 new contracts and tenders including the sought after NSW Roads and Maritime Services contract for 13 large format billboards across Sydney’s road network,” Cook said.

“In growing our metropolitan and regional product offering, we now have almost three times as many digital screens as we had in 2014.

“The Out Of Home industry is benefiting from the disruption in the advertising sector and oOh!media is driving a strategy to enable us to be at the forefront of Out Of Home’s development.”

Some of the business’ highlights include installing more than 900 new digital retail screens across the ANZ playground, upping its digital roadside billboards from eight to 25, and deplying its EXCITE suite of interactive retail digital screens.

“oOh!media’s strategy of increasing our digital capabilities is about much more than investing in digital screens,” Cook added.

“That’s one phase of our end-to-end digital growth strategy. It’s also about the integration of engaging digital screen content with online, social and mobile channels as well as providing advertisers with more sophisticated audience insights and analytics.”

A key highlight across the ditch was the strategic acquisition of the Inlink Group, a winning name in premium CBD signage, which delivered more than 2,800 digital screens in office towers, cafes and fitness centres.

“Our performance reflected the execution of a business strategy for sustainable growth and initiatives that delivered advertisers increasing engagement with the most diverse, location-based audience,” Cook said.

Based on plans for 2016 and current economic conditions, the Board provides guidance for the full year 2016 EBITDA of between $68-$72 million, representing 17-25 per cent growth, and capex of between $20-$25 million. oOh!media expects capital expenditure to include conversion of 10-15 large format roadside billboards to digital, 300-500 retail digital screens, and further investment in its Wi-Fi network and content management systems.

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