BRIEF: oOh!media earnings update: double digit revenue growth
- Publisher : Venture Insights
- Publish Date : August 21, 2018
On 20th August 2018, oOh!media reported its first half CY18 earnings.
While digital continues to underpin majority of the growth, product and customer diversification ensured double-digit revenue growth despite fluctuations in certain business segments.
Some of the key highlights from the announcement included:
- Revenue of A$192.0mn, up 11% from the half year ended 30th June 2017 (1H17).
- Gross profit of A$87.6mn was up 16%. Gross profit margin of 46% vs. 44% in 1H17.
- Operational expenditure increased by 20%, driven by increased employee costs relating to technology, creative and sales teams and related commissions to drive revenue growth; Management indicated that they expect costs to moderate going forward.
- Operating EBITDA of A$37.9m, up 11% with Operating EBITDA margin steady on the prior corresponding period at 20% despite increased operating expenditure.
- Net profit after tax of A$9.2mn, up 3% from 1H17.
- oOh!media reaffirmed its guidance for CY18 of Operating EBITDA of A$94-A$99mn and for capital expenditure between A$30-A$40mn. This guidance excludes the impact of the proposed acquisition of Adshel, including costs incurred to date.