JCDecaux: Full-Year 2021 revenue
Full-Year 2021 revenue
- 2021
adjusted revenue up +18.7% to €2,744.6 million
- 2021
adjusted organic revenue up +18.5%
- Q4 2021
adjusted revenue up +37.5% to €955.8 million
- Q4 2021
adjusted organic revenue up +34.7%
Paris, January
27th, 2022 – JCDecaux SA
(Euronext Paris: DEC), the number one Out-of-Home Media company
worldwide, announced today its revenue for the full-year 2021.
Commenting on the Group’s 2021 revenue
performance, Jean-François Decaux, Chairman of the
Executive Board and Co-CEO of JCDecaux, said:
“Our 2021 group revenue grew by +18.7%, +18.5%
on an organic basis, to reach €2,744.6 million driven by a very
strong digital revenue growth and a better than expected Q4
despite national and local mobility restrictions including
semi-lockdowns in some European and Asia-Pacific countries. The
strong revenue growth in Q4 2021 at +37.5%, +34.7% organically,
demonstrates once again the rebound capacity and the growth
potential of JCDecaux.
Digital Out Of Home (DOOH) grew by +73.8% in Q4
2021 and by +33.2% in full-year 2021 to reach a record 26.9% of
Group revenue for 2021 and a quarterly record of 31.4% of Group
revenue in Q4. We continued to accelerate our digital
transformation and maintained our focus on the roll-out of digital
screens and on the development of our automated data-driven
planning and trading solutions. Programmatic advertising gained
good momentum via the VIOOH platform which is now trading in 15
countries, connected to multiple DSPs (Demand Side Platforms).
Street Furniture was strong at +35.8%
organically in Q4 2021 and already above Q4 2019 levels in Europe
(including France and UK). Billboard grew significantly as well at
+23.5% on an organic basis in Q4 2021. Transport continued to
improve quarter-on-quarter with a high Q4 organic revenue growth of
+38.7% but remained meaningfully impacted by ongoing restrictions
on global international passenger traffic and, to a lesser extent,
by lower commuter traffic in public transport than
pre-pandemic.
All geographies grew strongly in Q4 2021. Europe
(including France and UK) reached revenue levels very close to Q4
2019 while the other regions (North America, Asia-Pacific and Rest
of the World) recorded a strong rebound vs 2020 but remained the
most affected regions, mainly due to their Transport exposure and
to mobility restrictions. In China, in Q4 as well as for full-year
2021, revenues were close to pre-Covid levels for domestic
transport advertising and already above 2019 revenue levels for
domestic airport advertising more specifically.
We will provide a revenue guidance for Q1 2022
when we release our full-year 2021 results on March 10th, 2022.
As the most digitised global OOH 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 and the high quality of our teams
across the world, 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 support the
economic recovery as well as to drive 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 pages 2 and 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.
2021 adjusted revenue increased by +18.7% to
€2,744.6 million compared to €2,311.8 million in 2020. Excluding
the positive impact from foreign exchange variations and the
negative impact from changes in perimeter, adjusted organic revenue
increased by +18.5%. Adjusted organic advertising revenue,
excluding revenue related to sale, rental and maintenance of street
furniture and advertising displays, increased by +18.9% in
2021.
Adjusted revenue of the fourth quarter of 2021
increased by +37.5% to €955.8 million compared to
€695.1 million in the fourth quarter of 2020. Excluding the
positive impact from foreign exchange variations and the negative
impact from changes in perimeter, adjusted organic revenue
increased by +34.7%.Adjusted organic advertising revenue, excluding
revenue related to sale, rental and maintenance of street furniture
and advertising displays, increased by +37.0% in Q4 2021.
By activity:
Full-Year adjusted revenue |
2021 (€m) |
2020 (€m) |
Reported growth |
Organic growth(a) |
Street Furniture |
1,440.1 |
1,131.1 |
+27.3% |
+26.3% |
Transport |
877.8 |
810.9 |
+8.2% |
+8.5% |
Billboard |
426.7 |
369.7 |
+15.4% |
+16.6% |
Total |
2,744.6 |
2,311.8 |
+18.7% |
+18.5% |
(a)
Excluding acquisitions/divestitures and the impact of foreign
exchange |
Q4 adjusted revenue |
2021 (€m) |
2020 (€m) |
Reported growth |
Organic growth(a) |
Street Furniture |
509.3 |
369.5 |
+37.8% |
+35.8% |
Transport |
307.6 |
215.4 |
+42.8% |
+38.7% |
Billboard |
138.8 |
110.2 |
+26.0% |
+23.5% |
Total |
955.8 |
695.1 |
+37.5% |
+34.7% |
(a)
Excluding acquisitions/divestitures and the impact of foreign
exchange |
By geographic area:
Full-Year adjusted revenue |
2021 (€m) |
2020 (€m) |
Reported growth |
Organic growth(a) |
Europe (b) |
824.5 |
694.3 |
+18.8% |
+18.4% |
Asia-Pacific |
695.9 |
603.5 |
+15.3% |
+14.3% |
France |
532.6 |
442.8 |
+20.3% |
+17.2% |
Rest of the World |
274.9 |
206.3 |
+33.3% |
+43.1% |
United Kingdom |
253.3 |
203.8 |
+24.3% |
+20.1% |
North America |
163.4 |
161.3 |
+1.3% |
+4.8% |
Total |
2,744.6 |
2,311.8 |
+18.7% |
+18.5% |
(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 +27.3%
to €1,440.1 million (+26.3% on an organic basis). All
geographies performed strongly versus 2020.
In the fourth quarter, adjusted revenue
increased by +37.8% to €509.3 million (+35.8% on an organic
basis). All geographies performed strongly compared to Q4 2020 with
Europe (including France and UK) above Q4 2019 levels despite the
work from home mandate in many countries. Asia-Pacific continued to
improve sequentially but remained affected by restrictions on
mobility linked to Covid19.
TRANSPORT
Full year adjusted revenue increased by +8.2% to
€877.8 million (+8.5% on an organic basis) impacted by low
international air traffic due to the Covid19 pandemic while
revenues from public transport assets remained temporarily affected
by local mobility restrictions. In China, revenues were close to
pre-Covid levels for domestic transport advertising (including
metros, buses, domestic airport terminals) and already above 2019
revenue levels for domestic airport advertising more
specifically.
In the fourth quarter, the sequential
improvement continued with an adjusted revenue growth of +42.8% to
€307.6 million (+38.7% on an organic basis). All geographies
grew significantly year-on-year.
BILLBOARD
Full year adjusted revenue increased by +15.4%
to €426.7 million (+16.6% on an organic basis), growing
significantly in all geographies vs 2020.
In the fourth quarter, adjusted revenue
increased by +26.0% to €138.8 million (+23.5% on an organic
basis). All regions are growing strongly with UK already above Q4
2019 revenues.
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 2021, the impact of IFRS 11 on
adjusted revenue was -€74.8 million (-€58.9 million in
Q4 2020), leaving IFRS revenue at €881.0 million
(€636.2 million in Q4 2020).
For 2021, the impact of IFRS 11 on adjusted
revenue was -€222.1 million(-€212.0 million for 2020),
leaving IFRS revenue at €2,522.5 million
(€2,099.8 million for 2020).
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 |
2020 adjusted revenue |
(a) |
723.6 |
351.9 |
541.2 |
695.1 |
2,311.8 |
2021 IFRS revenue |
(b) |
416.7 |
577.7 |
647.1 |
881.0 |
2,522.5 |
IFRS 11 impacts |
(c) |
37.6 |
50.3 |
59.4 |
74.8 |
222.1 |
2021 adjusted revenue |
(d) = (b) + (c) |
454.3 |
628.1 |
706.5 |
955.8 |
2,744.6 |
Currency impacts |
(e) |
10.6 |
4.8 |
-6.6 |
-15.3 |
-6.5 |
2021 adjusted revenue at 2020 exchange rates |
(f) = (d) + (e) |
464.9 |
632.8 |
699.9 |
940.4 |
2,738.0 |
Change in scope |
(g) |
8.0 |
1.0 |
-3.8 |
-3.8 |
1.4 |
2021 adjusted organic revenue |
(h) = (f) + (g) |
472.9 |
633.9 |
696.1 |
936.6 |
2,739.4 |
Organic growth |
(i) = (h) / (a) - 1 |
-34.6% |
+80.2% |
+28.6% |
+34.7% |
+18.5% |
€m |
Impact of currency as of December
31st, 2021 |
USD |
5.7 |
RMB |
-10.2 |
GBP |
-8.6 |
AUD |
-8.2 |
Other |
14.8 |
Total |
-6.5 |
Average exchange rate |
FY 2021 |
FY 2020 |
USD |
0.8455 |
0.8755 |
RMB |
0.1311 |
0.1270 |
GBP |
1.1633 |
1.1240 |
AUD |
0.6349 |
0.6043 |
Next
information:2021 annual results: March 10th, 2022 (before
market)
Key Figures for JCDecaux
- 2021 revenue:
€2,745m (a)
- N°1 Out-of-Home
Media company worldwide
- A daily audience
of more than 840 million people in more than 80 countries
- 964,760
advertising panels worldwide
- Present in 3,670
cities with more than 10,000 inhabitants
- 10,230
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
(4.6/5) and CDP (A Leadership) rankings, and has obtained the MSCI
AAA score for the 4th year in a row
- 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 (489,500 advertising panels)
- N°1 worldwide in
transport advertising with 156 airports and 249 contracts in
metros, buses, trains and tramways (329,790 advertising
panels)
- N°1 in Europe
for billboards (129,970 advertising panels)
- N°1 in outdoor
advertising in Europe (615,530 advertising panels)
- N°1 in outdoor
advertising in Asia-Pacific (216,590 advertising panels)
- N°1 in outdoor
advertising in Latin America (66,120 advertising panels)
- N°1 in outdoor
advertising in Africa (22,500 advertising panels)
- N°1 in outdoor
advertising in the Middle East (15,350 advertising panels)
(a) Adjusted revenue
For more information about JCDecaux, please
visit jcdecaux.com.
Join us on Twitter, Linkedin, Facebook,
Instagram and Youtube.
Forward looking statements
This news release may contain some
forward-looking statements. These statements are not undertakings
as to the future performance of the Company. Although the Company
considers that such statements are based on reasonable expectations
and assumptions on the date of publication of this release, they
are by their nature subject to risks and uncertainties which could
cause actual performance to differ from those indicated or implied
in such statements.
These risks and uncertainties include without
limitation the risk factors that are described in the annual report
registered in France with the French Autorité des Marchés
Financiers.
Investors and holders of shares of the Company
may obtain copy of such annual report by contacting the Autorité
des Marchés Financiers on its website www.amf-france.org or
directly on the Company website www.jcdecaux.com.
The Company does not have the obligation and
undertakes no obligation to update or revise any of the
forward-looking statements.
Communications
Department: Albert Asséraf
+33 (0) 1 30 79 35 68 –
albert.asseraf@jcdecaux.com
Investor
Relations: Rémi Grisard
+33 (0) 1 30 79 79 93 –
remi.grisard@jcdecaux.com
Attachment
- 27-01-22 # JCDecaux Q4 2021_ENG
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