oOh!media today announced double-digit organic revenue growth, together with a strong fourth-quarter contribution from the Commute business (formerly Adshel) for the year ended 31 December 2018.
Organic revenue increased by 10 per cent to $416.8 million.
oOh! continues to leverage the reach and diversity of its product portfolio in the Out Of Home media sector with strong revenue growth in Road and ongoing significant improvements in Fly and Locate from the previous year.
Contribution from the Commute business, which was acquired on 28 September 2018, resulted in total revenue increasing by 27 per cent to $482.6 million.
Total Underlying EBITDA increased by 25 per cent to $112.5 million with organic underlying EBITDA growth (excluding Commute) increased by 5 per cent to $94.2 million.
oOh! remains at the forefront of digital transformation in the Out Of Home industry, and maintains a disciplined approach to digitisation of assets in premium locations across its network.
Digital revenue increased by 27 per cent to $288.1 million.
Gross profits are up 29 per cent on CY17 to $225.7m
oOh!’s CEO, Brendon Cook, said 2018 was a transformational year as the company continued to build a sustainable and growing Out Of Home business for the future.
“As Out Of Home is being transformed by technology, we continue to lead the industry in creating a new media business driven by data, content and innovation.
“We continue our investment in our all-of-business operating system. This is built on advanced machine learning with enhanced technological infrastructure and will enable our clients to leverage our digital sign network and engage with audiences more effectively and efficiently.
“We expect this investment will deliver significant operating efficiencies to oOh!, including optimised property retention, higher sales and margin, and improvements in our staff to revenue ratio”.