In his latest research note, analyst Nizla Naizer confirms his recommendation. The broker Deutsche Bank is keeping its Neutral rating. The target price is lowered from EUR 22 to EUR 18.
JCDECAUX SE is No. 1 in the world for outdoor communication. Net sales break down by type of surface as follows:
- urban furniture (50.8%; No. 1 worldwide): sales of advertising space in malls and on urban furniture bus shelters, automated public toilets, newspaper kiosks, signboards, etc.; 629,737 advertising surfaces marketed at the end of 2024), sale, leasing, and maintenance of urban furnishings. The group is also No. 1 worldwide for self-service bicycle rentals;
- transportation vehicles and terminals (35.3%; No. 1 worldwide): sales of advertising space in 157 airports, on and in buses, subways, trains, tramways, train stations, and transit terminals. At the end of 2024, the group sold 340,848 advertising surfaces;
- traditional and lighted billboards (13.9%; No. 1 in Europe): 121,226 advertising surfaces marketed.
Net sales are distributed geographically as follows: France (17.7%), the United Kingdom (11%), Europe (29.4%), Asia/Pacific (21.1%), North America (7.7%) and other (13.1%).
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