JCDecaux grows 'above expectations' in H1 2024

JCDecaux generated US$1.9 billion in revenue in H1, representing 13.4% organic growth year on year, according to the company's latest results.

 

Jean-Charles Decaux, chairman of the executive board and co-chief executive of JCDecaux, said the growth was “above our expectations” and driven by a “strong performance” in digital revenue and “strong trading momentum” in all activities.

 

In H1, the proportion of the group's revenue from digital out of home grew by 27.8% to reach 36.8%, compared with 32.7% of revenue in the same period last year. 

 

Across mediums, transport grew by 18.8%, street furniture by 10.6% and billboards by 10.4%.

 

By region, the UK returned the most organic growth, increasing by 29.8%. This was followed by Asia-Pacific, which increased by 14.2%, and Europe (excluding UK and France), which grew by 13.2%.

 

Each of JCDecaux’s markets hit double-digit growth, except North America and the company’s native France, where the company grew by 4.4% and 9.3% respectively.

 

Decaux noted the company’s “gradual recovery” of activity in China remained “well below pre-Covid levels”, but still represented double-digit growth.

 

In Q3, the company is expecting growth of approximately 10%, to be driven by digital and the “positive impact” of the Paris Olympic Games. 

 

In line with the company's upward trajectory, it has recently expanded its commercial team, hiring Mark Halliday as director of programmatic and Richard Simkins as director of commercial and partnerships. Most recently, Halliday founded media consultancy Halogen Thinking and before that was director of DAX for Global. Simkins joins from Dentsu where he was head of strategy and operations, OOH and geo-analytics.