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RNS Number : 4879F
Ocean Outdoor Limited
17 November 2020
17 November 2020
Ocean Outdoor Limited
("Ocean" or the "Company" or the "Group")
Q3 2020 Trading Update
Ocean Outdoor Limited (LSE: OOUT), a leading operator of premium
Digital Out-of-Home ("DOOH") advertising in the United Kingdom, the
Netherlands, the Nordics and Germany, today provides the market
with a Q3 2020 revenue trading update.
Q3 2020 Highlights:
-- Group revenue of GBP20.99m, down 36% for the quarter (2019: GBP32.91m) on a proforma basis
-- Ocean Netherlands appointed strategic media partner for Westfield Mall of the Netherlands
-- Roll-out of our first premium large format DOOH screen in
Norwich, one of the UK's top 10 fastest growing cities
-- Expansion of Ocean's Two Towers(R) concept in Birmingham
-- Continued investment and progress in automation systems
-- Awarded Amsterdam bus and tram media contract, which includes
over 300 vehicles and 1,688 digital screens
-- Awarded contract by Kroonenberg Groep in the Netherlands,
covering three shopping malls in Amsterdam and one in Hilversum
-- In Sweden, a new exclusive media contract with Centrumkanalen
has been won, covering 15 shopping malls
-- Negotiations with landlords continue as well as strict cost management across the Group
The Group continued to experience improving market trends on a
sequential quarterly basis, with Q3 2020 revenue reaching GBP20.99m
(Q3 2019: GBP32.91m), down 36% on Q3 2019.
A national lockdown in the UK and more stringent local measures
in the Netherlands and across the Nordics have temporarily paused
the improving trend, and we now anticipate a weaker end to the year
than previously envisaged. The ongoing developments mean that it is
not yet possible to reinstate guidance.
The cost cutting and redundancy programmes are now complete
across the Group, the balance sheet is robust and Ocean's teams
have been restructured for the 2021 fightback. The Group is
strategically well placed for the return of audiences in the
digital out of home arena on retail and roadside environments.
Despite the ongoing economic uncertainty, Ocean has continued to
invest in its organic growth plans and invest in its premium DOOH
product offering and brand expansion across Northern Europe. Ocean
believes the quality and coverage of its full motion DOOH and
premium roadside networks will put the Group in an excellent
position to capitalise on advertising demand as levels of spend
return to normal.
In the UK, the Group's first premium large format DOOH screen in
Norwich is now operating, marking the 13(th) UK city where Ocean is
now present, whilst Ocean's Two Towers(R) network concept has been
expanded to Birmingham, adding to its coverage already in
Manchester, Leeds and London.
At the start of September, Unibail-Rodamco-Westfield appointed
Ocean Netherlands as its strategic media partner for Westfield Mall
of the Netherlands, the country's largest shopping, dining and
leisure destination. Ocean Netherlands has also won the media
contract covering all buses and trams in Amsterdam, which includes
over 300 vehicles and 1,688 digital screens, and renewed its
contract with property company Kroonenberg Groep for three shopping
malls in Amsterdam and one mall in Hilversum.
Ocean Nordics has continued to win new contracts and is
operating well following the integration of the two businesses. In
Sweden, a new exclusive media contract with Centrumkanalen has been
won, covering 15 shopping malls, which expands Ocean Nordics' mall
network in Sweden to 115, whilst a 900 sqm banner location was
launched in Stockholm in one of highest roadside vehicular audience
locations in the country.
In Norway, the business strengthened its ties with Alti, the
shopping malls group, with a contract for 24 malls, which includes
both small and large format digital screens, and in Denmark a new
contract was awarded by shopping centre owner Danske for 39 event
areas in 16 malls, extending the current relationship.
Commenting on Ocean's performance, CEO Tim Bleakley said:
"The hardening lockdown measures introduced as we entered the
key Q4 autumn trading period have stalled the momentum the business
had built up, creating a more difficult environment for advertisers
to make decisions. However, the recent vaccine news is encouraging
as we look beyond 2020 to later in H1 2021. Given the digital
structure of the business and its focused approach during the
pandemic, we are well placed in our market to capitalise on the
recovery."
For further information please contact:
Ocean Outdoor
Tim Bleakley, CEO 020 7292
Susann Jerry, Head of Corporate Communications 6161
Yellow Jersey PR
Charles Goodwin
Georgia Colkin 0774 778
Joe Burgess 8221
About Ocean Outdoor
Ocean Outdoor operates some of the most prestigious digital
out-of-home (DOOH) locations in the UK, Northern and Continental
Europe. The Group portfolio includes 4,000 screens in seven
countries and 270 cities.
In the UK, Ocean operates the most iconic DOOH locations
including the BFI IMAX; the Landsec Piccadilly Lights; and has a
significant presence in the top 13 UK cities. Ocean's high-profile
landlords and partners include Birmingham, Manchester, Glasgow and
Southampton City Councils, Landsec, Unibail-Rodamco-Westfield, the
BFI and Intu. A continued focus on Ocean's Digital Cities for
Digital Citizens philosophy has significantly augmented the Group's
position as an operator of high quality DOOH assets. Ocean
continues to deliver good organic development through new City
tender wins, the rollout of new locations in Scotland, London, the
West Midlands and Manchester and significant screen investment.
Strategic acquisitions that complement the existing DOOH
portfolio remain a strategic pillar of the growth programme. This
continued with three Dutch acquisitions in spring 2019, giving the
company a significant share of the Netherlands market where it has
become a major DOOH player. These subsidiaries have since been
rebranded as Ocean Outdoor Netherlands.
In September 2019, Ocean acquired the assets of Visual Art, a
Sweden based independent, pure-play DOOH media and tech group which
operates in three Nordic countries (Sweden, Norway, Denmark) and
key cities in Germany. This transaction expands Ocean's portfolio
across 23 Unibail-Rodamco-Westfield shopping malls in Europe, in
addition to holding the exclusive external rights to two of the
largest premium urban shopping malls in Europe: Westfield London
and Westfield Stratford in the UK.
In February 2020, Ocean closed the acquisition of AdCityMedia, a
Sweden-based premium out-of-home and digital screen tech operator
focused on large format digital and high-end city centre locations
across Sweden, Norway, Denmark and Finland. The combined entities
of Visual Art and AdCityMedia, referred to as Ocean Outdoor
Nordics, creates the leading DOOH operator in the region.
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END
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(END) Dow Jones Newswires
November 17, 2020 02:00 ET (07:00 GMT)
Ocean Outdoor (LSE:OOUT)
過去 株価チャート
から 3 2025 まで 4 2025
Ocean Outdoor (LSE:OOUT)
過去 株価チャート
から 4 2024 まで 4 2025
