JCDecaux revenue up 10% in Q3 results

JCDecaux has announced its results for the third quarter 2024.

Highlights

• Q3 2024 adjusted revenue up +10.9% to €948.2 million 
• Q3 2024 adjusted organic revenue up +11.1% 
• Q4 2024 adjusted organic revenue expected to grow low single-digit 

Commenting on the 2024 third quarter revenue, Jean-Charles Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said, “Our Q3 2024 Group revenue grew by +10.9%, +11.1% on an organic basis, above our expectations, to reach €948.2 million with a solid business momentum across all segments and geographies, mainly driven by continued strong digital revenue growth, while France benefited from the positive impact of the Paris Olympic and Paralympic Games.

“Digital Out Of Home (DOOH) revenue grew by +17.8%, +18.5% on an organic basis, to reach a new record high of 38.5% of Group revenue including an ongoing strong programmatic revenue growth.

“All business segments recorded strong organic revenue growth: Street Furniture grew by +8.8% with continued solid momentum, Transport grew by +15.5% reflecting the strong growth in both airports and public transport systems and Billboard grew by +7.9% driven by solid momentum across markets.

“France and UK delivered strong double-digit organic revenue growth with all other geographies growing high single-digit. Our business in China, while still well below pre-COVID levels, grew double-digit with an increased digital penetration.

“As far as Q4 is concerned and bearing in mind our record Q4 last year, we expect a low single-digit organic revenue growth rate, including continued solid development of digital revenue and reflecting some macro uncertainties such as ongoing debates about government budgets in France and UK, while China is expected to be around flat due to low consumer demand.

“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 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.”

Following the adoption of IFRS 11 from January 1st, 2014, the operating data presented below is adjusted to include prorata share in companies under joint control. 

The values shown in the tables are generally expressed in millions of euros. The sum of the rounded amounts or variations calculations may differ, albeit to an insignificant extent, from the reported values. 

Adjusted revenue for the third quarter 2024 increased by +10.9% to €948.2 million compared to €855.0 million in the third quarter of 2023. Excluding the negative impact from foreign exchange variations and the positive impact of changes in perimeter, adjusted revenue increased by +11.1%. 

By Activity:

(a) Excluding acquisitions/divestitures and the impact of foreign exchange