oOh!media returned to profit with revenue jumping 18% to $592.6 million for the full year to December as outdoor media advertising surged post pandemic restrictions.
Second half revenue in the Fly format grew 78% over the first six months as airline capacity continued to rise.
Statutory net profit after tax was 400% higher at $31.516 million, compared to $10.28 million loss in 2021. Adjusted net profit after tax was $56.2 million, up 343%.
The out-of-home (OOH) company declared a final fully franked dividend of 3 cents a share, bringing the full year shareholder payout to 4.5 cents.
CEO Cathy O'Connor: “Over the course of the year, OOH continued its strong structural growth, consistent with its pre-pandemic trajectory and is the fastest growing major media format in Australia.
“The Outdoor Media Association recently released the 2022 results where in addition to announcing that OOH had exceeded $1billion in net media revenues it expects a revenue CAGR of 9% over the next four years.
“As the largest player in OOH across Australia and New Zealand, we continued to capitalise on this growth to deliver revenue growth of 18% for the year.
“Meanwhile, our strong operating leverage and cost discipline has enabled us to grow earnings faster than revenue with adjusted underlying EBITDA growth of 64%.
oOh!media says it’s seeing continued momentum into 2023 with first quarter revenue pacing at 8% ahead of the same period last year. February and March are stronger than January.
2022 numbers:
Revenue by format:
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