Despite a complex macroeconomic environment, the world leader in outdoor advertising posted organic growth of 5.7% in the first quarter of 2026. While core advertising activity remains robust, the outlook for the second quarter remains cautious in the face of geopolitical tensions.
For the first three months of 2026, JCDecaux saw its revenue reach 880.6 million euros, up 2.6% year-on-year. However, on an organic basis (at constant scope and exchange rates), growth reached 5.7%. The core advertising segment outperformed with an organic increase of 6.6%.
Growth was primarily driven by two pillars: Street Furniture and Transport. The former saw its revenue reach 438.8 million euros (+6.8% organic), bolstered by excellent performances in North America and the United Kingdom. The latter recorded organic growth of 7.5% to reach 326.6 million euros. France, Asia-Pacific, and North America all posted double-digit growth, offsetting the decline in the 'Rest of the World' segment, which was weighed down by the conflict in the Middle East.
Conversely, the Billboard business saw an organic decline of 2.9% to 115.1 million euros, a result mainly attributed to a strategy of rationalizing the asset portfolio across several countries.
For the second quarter, the group anticipates organic growth of 3%, which would rise to 5% excluding the negative impact of the Middle East.
This momentum is expected to be supported by the 2026 FIFA World Cup, with advertising benefits anticipated to be balanced across the second and third quarters. Finally, the second half of the year should benefit from the contribution of new strategic contracts to accelerate growth.
JCDECAUX SE is No. 1 in the world for outdoor communication. Net sales break down by type of surface as follows:
- urban furniture (50.7%; No. 1 worldwide): sales of advertising space in malls and on urban furniture bus shelters, automated public toilets, newspaper kiosks, signboards, etc.; 636,625 advertising surfaces marketed at the end of 2025), sale, leasing, and maintenance of urban furnishings. The group is also No. 1 worldwide for self-service bicycle rentals;
- transportation vehicles and terminals (35.8%; No. 1 worldwide): sales of advertising space in 154 airports, on and in buses, subways, trains, tramways, train stations, and transit terminals. At the end of 2025, the group sold 374,718 advertising surfaces;
- traditional and lighted billboards (13.5%; No. 1 in Europe): 94,562 advertising surfaces marketed.
Net sales are distributed geographically as follows: France (16.7%), the United Kingdom (10.6%), Europe (30.1%), Asia-Pacific (20.5%), North America (8%) and other (14.1%).
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