Martin Sorrell’s S4 Capital announced it hit its full year targets for 2022 following a strong fourth quarter.
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In a London Stock Exchange update, published on the 18th of January, S4 Capital said that the fourth quarter was ‘in line with expectations’ as it anticipates £120m ($A213) of underlying earnings (EBITDA) for 2022.
As a result of the increased liquidity, net debt is expected to be within the lower range of the £130-170m ($A231m – $A302m) guided range.
Full annual results are expected to be announced by Thursday 30th March.
Commenting on the results, Sorrell said he expects S4 to outpace the wider advertising industry in 2023:
“We look forward to updating our shareowners on the progress with our results in March. Most market commentators are now projecting high single digit growth for digital advertising and high teens percentage growth for digital transformation, which we believe we can continue to outpace, given our addressable markets including Technology services and as we build further momentum with our clients.
“Their priorities for 2023 seem to be focussed on driving revenue growth through “lower funnel” performance and activation and reducing cost through digital marketing transformation.”
