Outdoor media specialist oOh!media lifted revenue 8.8% to $691.36 million for the year to December, despite a tougher advertising market in the second half of the year.
Adjusted underlying net profit after tax (NPAT) was up 7% to $63 million and the company declared a fully franked final dividend of 4 cents a share, up 14%.
The group impaired its New Zealand business by $30 million following the non-renewal of the Auckland Transport contract. This meant statutory NPAT was down 54% to $16.9 million.
However, the company grabbed market share in ANZ of 35%.
Contract wins included Transurban's Melbourne and Brisbane motorway assets.
oOh! continues to see growth in the current year, with March quarter media revenue pacing up 7% in Australia, offset by New Zealand following the Auckland Transport loss.
The company expects OOH will continue to take revenue share from other media sectors.
“It is a privilege to join oOh! and lead a business that plays an integral part of Australia's media and urban landscape,” said incoming CEO James Taylor.
“OOH is a medium I have long admired for its unique ability to combine creativity, impact, physicality and presence, and OOH's record 16.4% share of agency media spend in CY25 reflects this momentum.
"I joined oOh! with a mindset to execute on our strategy with pace and clarity, ensuring the market fully understands the distinctiveness and scale of our offering.
“With our market leading, multi-format portfolio of more than 30,000 assets reaching 98% of metropolitan Australians each week, we are well positioned to deliver sustainable growth for our shareholders.
“In the first half of CY25, oOh! delivered record revenue and underlying results, while the second half saw pressure on advertising budgets and the non-renewal of the Auckland Transport contract.
“Notwithstanding this, the underlying business demonstrated resilience, with strong contract discipline resulting in adjusted gross profit increasing 5% to $298.8 million and adjusted underlying EBITDA growing 8% to $139.1 million.”
Slides from the results announcement:
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