JCDecaux : Full-Year 2022 revenue
Full-Year 2022 revenue
-
2022 adjusted revenue up
+20.8% to €3,316.5 million
-
2022 adjusted organic revenue
up +16.6%
-
Q4 2022 adjusted
revenue up +8.1% to
€1,033.3 million
- Q4 2022
adjusted organic revenue up +5.1%
Paris, January
26th, 2023 – JCDecaux SE
(Euronext Paris: DEC), the number one Out-of-Home Media company
worldwide, announced today its revenue for the full-year 2022.
Commenting on the Group’s 2022 revenue performance,
Jean-Charles Decaux,
Chairman of the Executive Board and Co-CEO of JCDecaux,
said:
“Our 2022 Group revenue grew by +20.8%, +16.6%
on an organic basis, to reach €3,316.5 million driven by a strong
digital revenue growth and a continued strong trading momentum. Q4
was better than expected at +5.1% on an organic basis, +8.1% on a
reported basis, with revenue reaching €1,033.3 million. Our organic
revenue growth outside China was +24,1% for the full-year 2022 and
+9,6% for Q4.
Digital Out-Of-Home (DOOH) grew by +19.5% in Q4
2022, +15.6% on an organic basis and by +41.1% in full-year 2022,
+35.2% on an organic basis, to reach a record of 34.7% of Group
revenue in Q4 and of 31.4% of Group revenue in full-year 2022,
while analogue advertising revenue grew double digit organically in
2022. We maintained our focus on the selective roll-out of digital
screens in premium locations, as well as on the development of our
data 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 doubled in 2022 to reach €61.3 million i.e.
5.9% of our digital revenue in full-year 2022 as the DOOH
programmatic ecosystem continued to gain traction, with the
dynamism of the 39 DSPs (demand-side platforms) connected to VIOOH
(the most connected SSP of the OOH media industry), including
Displayce following our strategic alliance announced in July 2022,
a DSP connected to more than 700k screens in 53 countries.
Street Furniture grew by +4.8% organically in Q4
2022 with total revenue above Q4 2019 revenue including a strong
growth in North America, Rest of the World and Asia-Pacific
excluding China. Billboard grew significantly as well at +6.0% on
an organic basis in Q4 2022, now mid-single digit below 2019
revenue levels, driven by a very strong Australian billboard
business which is already double digit above 2019. Transport grew
by +5.1% organically in Q4 2022 reflecting the continued recovery
of air travel in most regions of the world, including Rest of the
World which was already above 2019, but in China Q4 2022 was one of
the lowest quarters for mobility since the beginning of the
pandemic.
All geographies grew positively organically in
Q4 2022. Asia-Pacific excluding China grew by +44.1% on an organic
basis. France, Rest of Europe, Rest of the World and North America
excluding the non-renewal of the New-York Airports contract were in
Q4 2022 already above Q4 2019 revenue levels.
We will provide a revenue guidance for Q1 2023
when we release our full-year 2022 results on March 9th, 2023.
As the most digitised global OOH media company,
with our new data-led audience targeting and programmatic
solutions, our well diversified portfolio, our ability to win new
contracts, the strength of our balance sheet, the high quality of
our teams across the world and our recognised ESG excellence, we
believe we are well positioned to benefit from the rebound. We are
more than ever confident in the power of our media in an
advertising landscape increasingly fragmented and more and more
digital and in the role it will play to drive economic growth as
well as positive changes.”
Following the adoption of IFRS 11 from January
1st, 2014, the operating data presented below is adjusted to
include our prorata share in companies under joint control. Please
refer to the paragraph “Adjusted data” on page 3 of this release
for the definition of adjusted data and reconciliation with
IFRS.
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.
2022 adjusted revenue increased by +20.8% to
€3,316.5 million compared to €2,744.6 million in 2021. Excluding
the positive impact from foreign exchange variations and from
changes in perimeter, adjusted organic revenue increased by +16.6%.
Adjusted organic advertising revenue, excluding revenue related to
sale, rental and maintenance of street furniture and advertising
displays, increased by +18.4% in 2022.
Adjusted revenue of the fourth quarter of 2022
increased by +8.1% to €1,033.3 million compared to
€955.8 million in the fourth quarter of 2021. Excluding the
positive impact from foreign exchange variations and from changes
in perimeter, adjusted organic revenue increased by +5.1%. Adjusted
organic advertising revenue, excluding revenue related to sale,
rental and maintenance of street furniture and advertising
displays, increased by +5.1% in Q4 2022.
By activity:
Full-Year adjusted revenue |
2022 (€m) |
2021 (€m) |
Reported growth |
Organic growth(a) |
Street Furniture |
1,747.0 |
1,440.1 |
+21.3% |
+18.5% |
Transport |
1,075.2 |
877.8 |
+22.5% |
+15.0% |
Billboard |
494.3 |
426.7 |
+15.9% |
+13.5% |
Total |
3,316.5 |
2,744.6 |
+20.8% |
+16.6% |
(a) Excluding acquisitions/divestitures and the impact of
foreign exchange
Q4 adjusted
revenue |
2022 (€m) |
2021 (€m) |
Reported growth |
Organic growth(a) |
Street Furniture |
545.1 |
509.3 |
+7.0% |
+4.8% |
Transport |
338.4 |
307.6 |
+10.0% |
+5.1% |
Billboard |
149.8 |
138.8 |
+7.9% |
+6.0% |
Total |
1,033.3 |
955.8 |
+8.1% |
+5.1% |
(a) Excluding acquisitions/divestitures and the impact of
foreign exchange
By geographic area:
Full-Year adjusted revenue |
2022 (€m) |
2021 (€m) |
Reported growth |
Organic growth(a) |
Europe (b) |
988.3 |
824.5 |
+19.9% |
+20.2% |
Asia-Pacific |
721.5 |
695.9 |
+3.7% |
-2.4% |
France |
598.0 |
532.6 |
+12.3% |
+12.1% |
Rest of the World |
416.8 |
274.9 |
+51.6% |
+36.4% |
United Kingdom |
322.5 |
253.3 |
+27.4% |
+26.3% |
North America |
269.3 |
163.4 |
+64.8% |
+45.5% |
Total |
3,316.5 |
2,744.6 |
+20.8% |
+16.6% |
(a) Excluding acquisitions/divestitures and the impact of
foreign exchange
(b) Excluding France and the United Kingdom
Please note that the geographic comments
hereafter refer to organic revenue growth.
STREET FURNITURE
Full-year adjusted revenue increased by +21.3%
to €1,747.0 million (+18.5% on an organic basis) above
full-year 2019 revenue with a continued strong sales momentum
throughout the year. All geographies performed strongly with
double-digit revenue growth rates versus full-year 2021. France,
UK, Rest of Europe and North America were above 2019 revenue
levels.
In the fourth quarter, adjusted revenue
increased by +7.0% to €545.1 million (+4.8% on an organic
basis). France, Rest of Europe, North America and Rest of the World
were above Q4 2019 revenue levels.
TRANSPORT
Full-year adjusted revenue increased by +22.5%
to €1,075.2 million (+15.0% on an organic basis) reflecting
the strong return of air travel, notably in the US and in the
Middle-East, and the rebound of commuter traffic in public
transport. Transport remained meaningfully impacted by China where
2022 was the worst year for mobility since the beginning of the
pandemic.
In the fourth quarter, the sequential
improvement continued with an adjusted revenue growth of +10.0% to
€338.4 million (+5.1% on an organic basis). All geographies
grew significantly year-on-year except Asia-Pacific (Asia-Pacific
excluding China grew by +87.0%) with some countries already above
Q4 2019 revenue levels.
BILLBOARD
Full-year adjusted revenue increased by +15.9%
to €494.3 million (+13.5% on an organic basis), growing
significantly in all geographies vs 2021.
In the fourth quarter, adjusted revenue
increased by +7.9% to €149.8 million (+6.0% on an organic
basis). Asia-Pacific was above Q4 2019 revenue levels, driven by a
very strong Australian billboard business which is already double
digit above 2019.
ADJUSTED DATA
Under IFRS 11, applicable from January 1st,
2014, companies under joint control are accounted for using the
equity method.However, in order to reflect the business reality of
the Group, operating data of the companies under joint control will
continue to be proportionately integrated in the operating
management reports used by directors to monitor the activity,
allocate resources and measure performance.Consequently, pursuant
to IFRS 8, Segment Reporting presented in the financial statements
complies with the Group’s internal information, and the Group’s
external financial communication therefore relies on this operating
financial information. Financial information and comments are
therefore based on “adjusted” data, consistent with historical data
prior to 2014, which is reconciled with IFRS financial
statements.In Q4 2022, the impact of IFRS 11 on adjusted
revenue was -€74.7 million (-€74.8 million in
Q4 2021), leaving IFRS revenue at €958.7 million
(€881.0 million in Q4 2021).For 2022, the impact of IFRS
11 on adjusted revenue was -€242.5 million
(-€222.1 million for 2021), leaving IFRS revenue at
€3,074.0 million (€2,522.5 million for 2021).
ORGANIC GROWTH DEFINITION
The Group’s organic growth corresponds to the
adjusted revenue growth excluding foreign exchange impact and
perimeter effect. The reference fiscal year remains unchanged
regarding the reported figures, and the organic growth is
calculated by converting the revenue of the current fiscal year at
the average exchange rates of the previous year and taking into
account the perimeter variations prorata temporis, but including
revenue variations from the gains of new contracts and the losses
of contracts previously held in our portfolio.
€m |
|
Q1 |
Q2 |
Q3 |
Q4 |
FY |
|
|
|
|
|
|
|
2021 adjusted revenue |
(a) |
454.3 |
628.1 |
706.5 |
955.8 |
2,744.6 |
|
|
|
|
|
|
|
2022 IFRS revenue |
(b) |
628.5 |
739.3 |
747.5 |
958.7 |
3,074.0 |
IFRS 11 impacts |
(c) |
54.4 |
52.5 |
60.9 |
74.7 |
242.5 |
2022 adjusted revenue |
(d) = (b) + (c) |
683.0 |
791.8 |
808.4 |
1,033.3 |
3,316.5 |
Currency impacts |
(e) |
-20.9 |
-28.3 |
-37.8 |
-26.0 |
-113.0 |
2022 adjusted revenue at 2021 exchange rates |
(f) = (d) + (e) |
662.1 |
763.5 |
770.6 |
1,007.3 |
3,203.5 |
Change in scope |
(g) |
0.0 |
0.0 |
-0.4 |
-3.0 |
-3.4 |
2022 adjusted organic revenue |
(h) = (f) + (g) |
662.1 |
763.5 |
770.2 |
1,004.3 |
3,200.1 |
|
|
|
|
|
|
|
Organic growth |
(i) = (h) / (a) -
1 |
+45.7% |
+21.6% |
+9.0% |
+5.1% |
+16.6% |
€m |
Impact of currency as of December
31st, 2022 |
|
|
USD |
-28.7 |
RMB |
-18.1 |
HKD |
-13.0 |
BRL |
-12.3 |
Other |
-40.9 |
|
|
Total |
-113.0 |
Average exchange rate |
FY 2022 |
FY 2021 |
|
|
|
USD |
0.9496 |
0.8455 |
RMB |
0.1413 |
0.1311 |
HKD |
0.1213 |
0.1088 |
BRL |
0.1838 |
0.1568 |
Next information:2022 annual results: March 9th,
2023 (before market) |
Key Figures for JCDecaux
- 2022 revenue: €3,317m(a)
- N°1 Out-of-Home Media company
worldwide
- A daily audience of more than 850
million people in more than 80 countries
- 957,706 advertising panels
worldwide
- Present in 3,518 cities with more
than 10,000 inhabitants
- 10,720 employees
- JCDecaux is listed on the Eurolist
of Euronext Paris and is part of the Euronext 100 and Euronext
Family Business indexes
- JCDecaux is recognised for its
extra-financial performance in the FTSE4Good (3.6/5), CDP (A-
Leadership), MSCI (AA) and has achieved Platinum Medal status from
EcoVadis
- 1st Out-of-Home Media company to
join the RE100 (committed to 100% renewable energy)
- Leader in self-service bike rental
scheme: pioneer in eco-friendly mobility
- N°1 worldwide in street furniture
(530,143 advertising panels)
- N°1 worldwide in transport
advertising with 154 airports and 215 contracts in metros, buses,
trains and tramways (340,753 advertising panels)
- N°1 in Europe for billboards
(72,611 advertising panels)
- N°1 in outdoor advertising in
Europe (596,831 advertising panels)
- N°1 in outdoor advertising in
Asia-Pacific (232,268 advertising panels)
- N°1 in outdoor advertising in Latin
America (64,893 advertising panels)
- N°1 in outdoor advertising in
Africa (20,808 advertising panels)
- N°1 in outdoor advertising in the
Middle East (14,177 advertising panels)
(a) Adjusted
revenue
For more information about JCDecaux, please
visit jcdecaux.com. Join us on Twitter, Linkedin, Facebook,
Instagram and Youtube.
Communications
Department: Albert Asséraf+33 (0)
1 30 79 79 10 – albert.asseraf@jcdecaux.com
Investor
Relations: Rémi Grisard+33 (0) 1
30 79 79 93 – remi.grisard@jcdecaux.com
- 26-01-23 # JCDecaux Q4 2022_ENG
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