Adrian J Cotterill, Editor-in-Chief
JCDecaux SE (Euronext Paris: DEC), the number one outdoor advertising company worldwide, has announced its revenue for the full-year 2023.
Jean-François Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said “Our 2023 Group revenue grew by +7.6%, +8.7% on an organic basis, to reach €3,570.0 million driven by digital, the continued growth of street furniture and the ongoing recovery of our transport activities. Our record Q4, with the highest quarterly revenue ever for our company, grew by +10.3% on an organic basis and +9.4% on a reported basis. This strong growth was driven by higher-than-expected digital revenue growth during this year-end period of high demand and by our transport business which was back to pre-Covid revenue level outside China.
Digital Out of Home (DOOH) grew by +20.5% in Q4 2023, +22.9% on an organic basis, and by +20.8% in full-year 2023, +22.7% on an organic basis, to reach a record of 38.2% of Group revenue in Q4 and of 35.3% of Group revenue in full-year 2023, while analogue advertising revenue also grew in 2023 despite the conversion of some analogue sites to digital. We maintained our focus on the selective roll-out of digital screens in prime locations, as well as on the development of our data and programmatic capabilities.
Programmatic advertising revenues through the VIOOH SSP (supply-side platform), which constitute mostly incremental revenue from innovative dynamic data-driven campaigns and new advertisers grew by +63.5% in 2023 to reach €100.2 million i.e. 8.0% of our digital revenue in 2023. The DOOH programmatic ecosystem continued to gain traction, with the dynamism and the growing number of DSPs (demand-side platforms) connected to VIOOH (the most connected SSP of the OOH media industry with 42 DSPs connected) now active in 22 countries, including Displayce a DSP connected in 53 countries.
All activities grew positively organically in Q4 2023. Street Furniture delivered a solid organic revenue growth of +6.7% driven by digital and a continued high demand from advertisers. Transport’s organic revenue growth reached +20.0%, back to pre-COVID level outside of China, aligning with the global airport passenger traffic recovery, which is now at pre-COVID level, except for international traffic in China. Billboard grew by +1.3% organically driven by its most digitised markets.
All geographies grew positively organically in Q4 2023 including Asia-Pacific, UK and North America growing double-digit. France, UK, Rest of Europe and Rest of the World were above their 2019 revenue levels, while Asia remained significantly behind mainly due to China. The recovery of our activity in China is continuing, at a better pace this quarter, thus reducing the gap with 2019.
We will provide a revenue guidance for Q1 2024 when we release our full-year 2023 results on March 7th, 2024.
We are confident that Out of Home (OOH) will continue to grow its market share in a fragmented media landscape with Digital Out of Home (DOOH) being the second fastest growing media segment. JCDecaux as the industry leader and the most digitised global OOH Media company is well positioned to benefit from this digital transformation.”
- STREET FURNITURE
Full-year adjusted revenue increased by +5.3% to €1,839.0 million (+5.1% on an organic basis) year-on-year significantly above full-year 2019 revenue with a continued strong sales momentum throughout the year. Most geographies grew high single-digit year-on-year. France, UK, Rest of Europe and Rest of the World were above 2019 revenue levels.In the fourth quarter, adjusted revenue increased by +7.2% to €584.3 million (+6.7% on an organic basis) year-on-year and was significantly above the 2019 revenue level. UK and Asia-Pacific grew double-digit year-on-year. All regions except Asia-Pacific were above Q4 2019 revenue levels.
- TRANSPORT
Full-year adjusted revenue increased by +14.6% to €1,232.6 million (+18.4% on an organic basis) year-on-year reflecting the recovery of air travel which was back to 2019 level, except for international air traffic in China, and the rebound of commuter traffic in public transport. France, UK, North America, Asia-Pacific and Rest of the World grew double-digit year-on-year while Rest of Europe grew high single-digit.In the fourth quarter, the sequential improvement continued, including in China, with an adjusted revenue growth of +16.4% to €393.8 million (+20.0% on an organic basis) year-on-year. All geographies grew double-digit year-on-year. Transport revenue outside China was back to 2019 revenue level.
- BILLBOARD
Full-year adjusted revenue increased by +0.8% to €498.4 million (+0.7% on an organic basis) year-on-year driven by the most digitised markets. UK, Rest of Europe, North America, Asia-Pacific and Rest of the World significantly grew year-on-year, while France decreased mainly due to a reglementary reduction and rationalisation of the number of sites.In the fourth quarter, adjusted revenue increased by +1.4% to €151.9 million (+1.3% on an organic basis) year-on-year. Total revenue outside of France was above Q4 2019 revenue.
Adjusted revenue for the 2023 fourth quarter increased by +9.4% to €1,130.0 million from €1,033.3 million in the same period last year. On an organic basis (i.e. excluding the negative impact of €22.6 million from foreign exchange variations and the positive impact of €13.1 million from changes in perimeter this quarter), adjusted revenue increased by +10.3%. Adjusted advertising revenue, excluding revenue related to sale, rental and maintenance of street furniture and advertising displays, increased by +10.7% on an organic basis in the fourth quarter of 2023.
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