JCDecaux SA (Euronext Paris: DEC), announced this week its revenues for the three months ended 31 March, 2009 – revenues decreased by 11.9% to €424.6 million compared to €482.2 million in the same period last year.
JCDecaux said that market conditions further deteriorated in the first quarter of 2009 leading to weaker demand and subsequent fiercer competition in many markets.
Commenting on the first quarter revenues and prospects for 2009, Jean-Charles Decaux, Chairman of the Executive Board and Co-Chief Executive Officer told us “As previously indicated, our first quarter revenues were strongly impacted by the unprecedented economic downturn which has caused advertisers to significantly reduce their advertising spend … Our Billboard business, and for the first time, our Street Furniture business subsequently saw double digit revenue declines, while our Transport division benefited somewhat from newly won contracts”
France experienced some resilience over the quarter with a low double-digit organic revenue decrease while the United Kingdom and Southern Europe recorded significant double-digit organic revenue decrease.
Positive organic revenue growth was recorded in Austria despite a high 2008 comparable.