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Print revenue stable at APN Outdoor

Friday, 24 August 2018
By Wayne Robinson

Stable: print at APN Outdoor

Half year results at outdoor media giant APN Outdoor show its print revenue remained stable, after the company ‘rebased for asset conversion’.

The company, which received ACCC clearance for its $1.12bn purchase by JC Decaux, achieved an increase in half year revenue of four per cent to $168.4m,  and a seven per cent increase in underlying EBITDA to $39.7m. Its underlying net profit after tax was exactly the same as the prior corresponding period at $19.9m.

Print remains the major revenue source for APN Outdoor at $97.4m. This was down by five per cent on the previous corresponding half year, but up by four per cent when ‘rebased’ to exclude the loss of the Yarra Trams contract.

The company said print was a strong result, especially as it had converted $1.3m of print revenue to digital inventory. Roadside billboards continues to be the main growth driver, up by 10 per cent.

APN says production and installation revenue is trending with print media revenue. APN Outdoor owns  Sydney print business GPS, which supplies much of its print requirement.

Contract wins included six new print billboards for Vic Roads, and the provision of four new high quality print billboards for the Queensland Government, three greenfield.

Revenue from digital assets at APN outdoor shot up by 18 per cent, to $71m of the total $168.4m income.

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