Outdoor media specialist oOh!media today issued a profit warning, reporting a subdued advertising market.
The company now forecasts December quarter revenue to be slightly below the same three months last year.
Calendar 2025 revenue is now expected to be between $689 million and $694 million.
oOh! delivered September quarter revenue growth of 7%, slightly ahead of the 5% indicated at its half year results announced in August.
But the market has turned into the close of the year.
“After successive quarters of strong growth in OOH, activity in the Australian advertising market softened significantly in October, impacting both the OOH market and oOh!,” the company said in a trading update released to the ASX.
“In variable market conditions, oOh! has remained focused on disciplined cost management and execution and expects its operating costs to remain between $159 million to $161 million, including New Zealand restructuring costs.
Capital expenditure is expected to be at the lower end of the $53 million to $63 million range.
Group adjusted EBITDA is expected to be between $139 million and $142 million.
However, improved pacing in November and December has continued into January.
oOh! expects to benefit from further asset rollouts.
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