Ooh!Media Reports An Upswing With Earnings Boosted By 62%
oOh!media Limited has announced its financial results for the half year ended 30 June 2022 (“1H22”).
The results prove that oOh!media is back in a big way! Fresh off inking an exclusive multi-year partnership with News Corp.
oOh! continued to successfully leverage audience growth across its key Out of-Home formats to deliver a 10 per cent increase in revenue to $276.1 million.
The Company’s strong operating leverage, combined with ongoing operational discipline, ensured earnings continued to grow faster than revenue, with Adjusted underlying EBITDA1 increasing by 62 per cent on the prior corresponding period to $51.5 million.
oOh!’s financial position continued to strengthen during the period with a 37 per cent decline in net debt from 31 December 2021 and a corresponding reduction in its gearing ratio to 0.4 times.
As a result, the Company declared an interim dividend of 1.5 cents per share fully franked.
The Company has also announced an on-market share buyback of up to 10% of its issued share capital, approximately $75 million, expected to commence in September 2022.
CEO, Cathy O’Connor and our Powerlist Supreme took the win calmly and told B&T, “It is just another day in the office, and we will take it all in our stride!”
However, she added that the results are a “Good indication that we are on the right track!”
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