JCDecaux SA: Full-Year 2012 Revenues

  JCDecaux SA: Full-Year 2012 Revenues

Business Wire

PARIS -- January 24, 2013

Regulatory News:

  *2012 reported revenues up 6.5% to €2,622.8 million
  *2012 organic revenues up 1.5%
  *Fourth quarter reported revenues up 4.3% to €746.6 million
  *Fourth quarter organic revenues up 0.2%

JCDecaux SA (Paris:DEC), the number one outdoor advertising company worldwide,
announced today its revenues for the full-year 2012.

On a reported basis, 2012 revenues increased by 6.5% to €2,622.8 million from
€2,463.0 million in 2011. Organic revenue growth of 1.5% was mainly driven by
the strength of the Transport business in our key markets especially
Asia-Pacific, the Rest of the World, the UK and France. Street Furniture
revenues were broadly flat in France and the UK, while most other European
geographies showed continued weakness throughout the year and North America
enjoyed good growth. Billboard was difficult in most of our European markets.
Core advertising revenues, excluding revenues relating to the sale, rental and
maintenance of street furniture products grew 1.5% organically during 2012.

Reported revenues for the fourth quarter increased by 4.3% to €746.6 million
compared to €715.9 million in 2011. Excluding foreign exchange variations and
change in perimeter effects, organic revenues were slightly positive, better
than anticipated at the time of our Q3 revenue release in November.

By activity:

Full-Year          2012 (€m)  2011 (€m)  Reported        Organic
revenues                                    growth           growth^(a)
Street Furniture    1,171.3     1,179.0     -0.7%            -1.9%
Transport           1,012.5     874.8       +15.7%           +8.9%
Billboard           439.0       409.2       +7.3%            -4.8%
Total               2,622.8     2,463.0     +6.5%            +1.5%

a. Excluding acquisitions/divestitures and the impact of foreign exchange

Q4 revenues       2012 (€m)  2011 (€m)  Reported growth  Organic
Street Furniture   338.8       352.6       -3.9%             -4.2%
Transport          291.9       251.5       +16.1%            +10.3%
Billboard          115.9       111.8       +3.7%             -8.5%
Total              746.6       715.9       +4.3%             +0.2%

a. Excluding acquisitions/divestitures and the impact of foreign exchange

By geographic area:

Full-Year revenues  2012 (€m)  2011 (€m)  Reported        Organic
                                             growth           growth^(a)
Europe ^ (b)         759.6       792.6       -4.2%            -5.6%
France               615.2       607.8       +1.2%            -1.5%
Asia-Pacific         604.6       504.3       +19.9%           +9.6%
United Kingdom       316.7       272.1       +16.4%           +7.7%
North America        188.5       179.2       +5.2%            -1.2%
Rest of the world    138.2       107.0       +29.2%           +20.5%
Total                2,622.8     2,463.0     +6.5%            +1.5%

a. Excluding acquisitions/divestitures and the impact of foreign exchange
b. Excluding France and the United Kingdom

Street Furniture

Full-year revenues decreased by 0.7% to €1,171.3 million (organic growth:
-1.9%). In a difficult macro-economic environment, France was slightly up, the
UK posted broadly flat revenues while in Europe, revenues in Germany declined
low single-digit and Southern Europe fell by double-digit. North America
revenue increased by mid single-digit with a particularly strong first half.
Asia-Pacific also showed a mid single-digit increase and the Rest of the World
delivered a high single-digit growth.

During the fourth quarter, Street Furniture organic revenues decreased by
4.2%. Our main markets were negative, with the exception of Germany which saw
low single-digit growth. Southern Europe remained very challenging.


Another year of strong performance saw the Transport revenues grow by 15.7% in
2012, to €1,012.5 million (organic growth: 8.9%).

The UK benefited from the Olympic Games with a strong double-digit growth in
2012. France showed a high single-digit growth, reflecting the success of our
new digital offer in the Paris airports. The situation in Southern Europe
continued to be difficult.
Asia-Pacific saw another strong year with double-digit organic revenue growth
in spite of difficult comparables and some softening in the economic
environment. This was helped by the strong performance of the Chinese metros,
Hong Kong MTR and Singapore/Changi Airport. In addition, the introduction of
the VAT and the suppression of the business tax in China in 2012 had a one-off
negative effect on our organic growth, with a -1.8% impact on Asia-Pacific for
the year, but no impact on the operating margin or below.
Despite a positive Q4, North America showed a mid single-digit decline in
2012, following the non-renewal of certain long-term advertising campaigns.
In the Rest of the World, the Dubai and Saudi airports continued to perform
very well, leading to a strong double-digit growth in the region.

In the fourth quarter, organic revenues increased by 10.3% with France, the
UK, Asia-Pacific and the Rest of the World seeing double-digit increases.
North America was up high single-digit. This was partially offset by Europe
where revenues were slightly down.


2012 Billboard revenues increased by 7.3% to €439.0 million (-4.8% on an
organic basis). The difference between reported and organic growth is mainly
due to the redistribution of certain panels into the Billboard segment
following a legal reorganization of the French business.
With our Billboard activities being mainly concentrated in Europe, this
segment remained difficult throughout the year. While the UK benefited from
the Olympic Games in London, France and Europe saw single-digit revenue
declines, with Southern Europe being particularly challenging.

In the fourth quarter, organic revenues decreased by 8.5%, with European
markets continuing to be difficult, particularly in Southern Europe.

Commenting on the Group’s 2012 revenue performance, Jean-Charles Decaux,
Chairman of the Executive Board and Co-CEO of JCDecaux, said:

“JCDecaux achieved another year of record revenues boosted by the on-going
strength of our emerging market business. However despite good resilience in
France and a strong performance in the UK driven by the Olympics, the negative
effect of the European recession continued to impact our organic growth. The
excellent performance of our Transport division (now 39% of our total
revenues) which is strongly exposed to growth economies and digital displays,
was somewhat offset by the impact on Street Furniture and Billboard of the
contraction of many European economies, with Billboard being also affected by
an increased pressure on price.

2012 was also marked by a number of strategic developments such as the win of
a 25-year contract for digital advertising clocks in São Paulo, the win of
US's first large-scale digital billboard network contract with the City of
Chicago and the projected acquisition of 25% of Russ Outdoor, the largest
outdoor advertising company in Russia. This demonstrates the consistency of
the Group in pursuing its strategic goals and expanding its presence in large

As usual, we will provide guidance for Q1 when we release our full-year 2012
results on March 7^th.

Looking forward, we remain convinced that out-of-home retains its strength and
attractiveness in an increasingly fragmented media landscape. With our
accelerating exposure to fast growing markets, our growing digital portfolio,
our ability to win new contracts and the high quality of our teams across the
world, we believe we are well positioned to outperform the advertising market
and increase our leadership position in the outdoor advertising industry. The
strength of our balance sheet is a key competitive advantage that will allow
us to pursue further external growth opportunities as they arise.”

                              Next information:
              2012 Annual Results: 7 March 2013 (before market)

Key Figures for the Group

  *2012 revenues: €2,623m
  *JCDecaux is listed on the Eurolist of Euronext Paris and is part of the
    Euronext 100 index
  *No.1 worldwide in street furniture (426,200 advertising panels)
  *No.1 worldwide in transport advertising with 175 airports and 280
    contracts in metros, buses, trains and tramways (367,800 advertising
  *No.1 in Europe for billboards (208,500 advertising panels)
  *No.1 in outdoor advertising in the Asia-Pacific region (202,200
    advertising panels)
  *No.1 worldwide for self-service bicycle hire
  *1,013,500 advertising panels in more than 55 countries
  *Present in 3,700 cities with more than 10,000 inhabitants
  *10,300 employees

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
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: Agathe Albertini
+33 (0) 1 30 79 34 99 – agathe.albertini@jcdecaux.fr
Investor Relations: Nicolas Buron
+33 (0) 1 30 79 79 93 – nicolas.buron@jcdecaux.fr
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