APN Outdoor Group Limited (ASX:APO) last week reported its financial performance for the 12 months to December 2014, reaffirming its prospectus profit forecast for 2015.
Financial highlights include:
- Achieved all prospectus financial metrics
- Revenue up 11% on last year to $250.6m
- Pro-forma EBITDA up 34% on last year to $45.3m
- Pro-forma NPATA up 45% on last year to $23.7m, 7.3% ahead of Prospectus forecast
- Statutory NPAT loss of $12.2m was $1.5m better than Prospectus forecast
- Dividend of 1 cent per share (fully franked) as indicated in Prospectus
- On track to deliver 2015 EBITDA of $53.7m in line with Prospectus forecast
Operational highlights include:
- Market share growth in Australia and New Zealand
- 34 large format digital screens operational by the end of 2014
- XtrackTV successfully launched and exceeding revenue expectations
CEO, Richard Herring said “APN Outdoor’s strong financial performance and market share gains reflect the focused growth strategy of the business together with positive Outdoor industry advertising trends. We achieved the 2014 prospectus financial forecasts in all key areas and remain dedicated to our continued digitising of our inventory. APN Outdoor’s performance in 2014 was characterised by successful contract renewals and wins, and the results of establishing a first mover advantage and leadership position in large format digital screens in both Australia and
New Zealand.
The end of the calendar year saw good momentum for the business into 2015 and reinforced our confidence in achieving our 2015 prospectus targets. We expect to see the outdoor media sector continue to outperform most other media sectors.”