This is one of the biggest increases of this Friday session at the Paris Stock Exchange. JCDecaux shares rose by more than 10% from the first exchanges, in reaction to the announcement, the evening before, of excellent figures concerning its activity for the fourth quarter of 2021.
Strongly affected by the health crisis for many months, the world number one in display advertising saw its turnover soar by 38% over the period, to 956 million euros, and by 35% in data. comparable, i.e. at constant scope and exchange rates. This is much more than the prospect of 20% growth that was put forward by the group’s management.
A general rebound
All businesses contributed to this performance, whether street furniture (+36%), transport (+39%) or billboards (+23%), boosted by new digital formats. All geographic areas as well. Europe, including France and the United Kingdom, thus achieved revenues very close to those recorded in the fourth quarter of 2019, before the start of the pandemic. Over the whole of 2021, turnover increased by 19%, to 2.74 billion euros.
An update on the figures for the first quarter will be made on March 10, on the occasion of the publication of the annual accounts.
A still very favorable first quarter
For analysts, the publication is, of course, beyond expectations, and in all respects. Oddo BHF, for example, was aiming for a turnover of 890 million for the year. The consensus anticipated, as a whole, organic growth of 27%, already higher than management forecasts. ” The momentum was particularly good, especially in street furniture in Europe (…) This point is important because it is the medium that displays the greatest leverage effect “, Points out the analyst firm, which therefore raises its gross operating surplus targets for 2021 and 2022 by 5% on average.
” If health visibility improves in the coming months, the recovery could be much more marked than we expect for 2022 (+18% for the moment). The title could then be attractive as the cost base has been restructured in 2020 and 2021 “, Still believes the office. The first quarter should, however, be very dynamic, given a very favorable base effect. Revenues had fallen 35% in the first three months of 2021.