OOH! MEDIA PROFIT ROCKETS BY 343%

Outdoor media giant oOh! Media more than quadrupled its full year net profit after tax to $56.2m, on sales up by 18 per cent to $592.6m.

The company, which is the biggest of its type in ANZ, says outdoor was the fastest growing major media format in 2022, and says its upswing in profit and sales was due to enhanced digitisation and ‘compelling creative content.’

Adjusted underlying EBITDA was up by 64 per cent to $127.1m, with margin up by a healthy 6.1 points. NPAT rose from $12.7m to $56.2m.

The Road and Retail sectors are now higher than they were pre-covid. Fly and Office are expected to strengthen over this year as audiences return.

Street Furniture and Rail was the biggest division at $196.5m, up by eight per cent, while Road (Billboard) revenue increased by 21 per cent to $191.1m. Retail grew by 14 per cent to $1421.9m compared with last year, while Fly almost trebled its result, up by 176 per cent to $33.8m.

Other, which is primarily Cactus Imaging, saw revenue of $10.8m. It can’t be compared with the previous year as that included Junkee media, which has since been sold off.

For the current year oOh! Says revenue is already eight percent above 2022, and says February and March are stronger than January.