oOh!media.
oOh!media expects the advertising market to strengthen in the run to December, following a challenging first half resulting in “subdued” revenue.
The outdoor media specialist said momentum is accelerating, with third quarter Australia media revenue pacing at +14%. More than 100% of September quarter 2025 closing revenues already booked in Australia.
oOh! reported revenue up 1.4% to $340.87 million in the half year to June. However, the company posted a loss of $1.232 million.
The company described the revenue growth as "below expectations" in a softer than expected billboard market plus headwinds from the loss of the Auckland Transport contract.
Private equity group I Squared Capital is taking over oOh!media in a deal valuing the outdoor media player at $1.04 billion.
“Firstly I wish to thank the board, our team and advisors on reaching an agreement with I Squared to enter into a binding Scheme Implementation agreement on 10 August,” said CEO James Taylor, announcing first half results.
“I am thrilled by the endorsement of a sophisticated and long-term infrastructure investor in our strategy and in the future of this business.
“While the bid process was underway since late April the business managed to navigate challenging first half conditions for the advertising market and has delivered on our commitment to reshape oOh! for our next phase of growth. We are beginning to see the fruits of the decisions we have made.
“In the first half, we onboarded the landmark Transurban and Melbourne Metro Tunnel contracts. We removed $12 million in annualised costs and capex through our Operational Excellence program and exiting the reo retail media business. The business is also confident that it has unlocked a further $1m to $2m run rate.
“We expect a materially stronger second half and momentum is accelerating, with third quarter revenue pacing up double-digits, and more than 100% of last year’s closing Australian Q3 revenue already booked.”
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