oOh!media 1HCY19 update: temporary blip with long term outlook remaining strong

On 26th August 2019, oOh!media reported its first half CY19 earnings update.

OML’s performance in the first half was impacted by reduced ad spends during the NSW state and Federal elections, along with subdued ad spending from the Automotive and Banking segments..

OML 1HCY19 performance (A$mn)

On 26th August 2019, oOh!media (OML) reported its half year CY19 earnings. Some of the key highlights from the announcement included:

  • Revenue of A$304.9mn, up 5% YoY.

  • Gross profit of A$126.6mn, down 2% YoY.

  • Operational expenditure remained flat YoY as the business is tracking well on costs and is proactively targeting further cost savings.

  • Operating EBITDA of A$56.0mn, down 4% YoY with margins declining by 170bps YoY.

  • Net profit after tax of A$9.0mn, down 24%31.6mn, down 4% YoY driven by acquisition costs

  • OML expects growth to remain subdued in Q3 followed by positive outlook for Q4 and has lowered its guidance for EBITDA from A$152-162mn to A$125mn to A$135mn, excluding any integration costs.

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