Full-Year 2021 revenue
- 2021 adjusted revenue up +18.7% to €2,744.6 million
- 2021 adjusted organic revenue up +18.5%
- Q4 2021 adjusted revenue up +37.5% to €955.8 million
- Q4 2021 adjusted organic revenue up +34.7%
Commenting on the Group’s 2021 revenue performance, Jean-François Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said:
“Our 2021 group revenue grew by +18.7%, +18.5% on an organic basis, to reach €2,744.6 million driven by a very strong digital revenue growth and a better than expected Q4 despite national and local mobility restrictions including semi-lockdowns in some European and
Digital Out Of Home (DOOH) grew by +73.8% in Q4 2021 and by +33.2% in full-year 2021 to reach a record 26.9% of Group revenue for 2021 and a quarterly record of 31.4% of Group revenue in Q4. We continued to accelerate our digital transformation and maintained our focus on the roll-out of digital screens and on the development of our automated data-driven planning and trading solutions. Programmatic advertising gained good momentum via the VIOOH platform which is now trading in 15 countries, connected to multiple DSPs (Demand Side Platforms).
All geographies grew strongly in Q4 2021.
We will provide a revenue guidance for Q1 2022 when we release our full-year 2021 results on
As the most digitised global OOH company with our new data-led audience targeting and programmatic solutions, our well diversified portfolio, our ability to win new contracts, the strength of our balance sheet and the high quality of our teams across the world, we believe we are well positioned to benefit from the rebound. We are more than ever confident in the power of our media in an advertising landscape increasingly fragmented and more and more digital and in the role it will play to support the economic recovery as well as to drive positive changes.”
Following the adoption of IFRS 11 from
The values shown in the tables are generally expressed in millions of euros. The sum of the rounded amounts or variations calculations may differ, albeit to an insignificant extent, from the reported values.
2021 adjusted revenue increased by +18.7% to €2,744.6 million compared to €2,311.8 million in 2020. Excluding the positive impact from foreign exchange variations and the negative impact from changes in perimeter, adjusted organic revenue increased by +18.5%. Adjusted organic advertising revenue, excluding revenue related to sale, rental and maintenance of street furniture and advertising displays, increased by +18.9% in 2021.
Adjusted revenue of the fourth quarter of 2021 increased by +37.5% to €955.8 million compared to €695.1 million in the fourth quarter of 2020. Excluding the positive impact from foreign exchange variations and the negative impact from changes in perimeter, adjusted organic revenue increased by +34.7%.Adjusted organic advertising revenue, excluding revenue related to sale, rental and maintenance of street furniture and advertising displays, increased by +37.0% in Q4 2021.
By activity:
Full-Year adjusted revenue | 2021 (€m) | 2020 (€m) | Reported growth | Organic growth(a) |
1,440.1 | 1,131.1 | +27.3% | +26.3% | |
Transport | 877.8 | 810.9 | +8.2% | +8.5% |
Billboard | 426.7 | 369.7 | +15.4% | +16.6% |
Total | 2,744.6 | 2,311.8 | +18.7% | +18.5% |
(a) Excluding acquisitions/divestitures and the impact of foreign exchange | ||||
Q4 adjusted revenue | 2021 (€m) | 2020 (€m) | Reported growth | Organic growth(a) |
509.3 | 369.5 | +37.8% | +35.8% | |
Transport | 307.6 | 215.4 | +42.8% | +38.7% |
Billboard | 138.8 | 110.2 | +26.0% | +23.5% |
Total | 955.8 | 695.1 | +37.5% | +34.7% |
(a) Excluding acquisitions/divestitures and the impact of foreign exchange |
By geographic area:
Full-Year adjusted revenue | 2021 (€m) | 2020 (€m) | Reported growth | Organic growth(a) |
824.5 | 694.3 | +18.8% | +18.4% | |
695.9 | 603.5 | +15.3% | +14.3% | |
532.6 | 442.8 | +20.3% | +17.2% | |
Rest of the World | 274.9 | 206.3 | +33.3% | +43.1% |
253.3 | 203.8 | +24.3% | +20.1% | |
163.4 | 161.3 | +1.3% | +4.8% | |
Total | 2,744.6 | 2,311.8 | +18.7% | +18.5% |
(a) Excluding acquisitions/divestitures and the impact of foreign exchange | ||||
(b) Excluding France and the |
Please note that the geographic comments hereafter refer to organic revenue growth.
STREET FURNITURE
Full year adjusted revenue increased by +27.3% to €1,440.1 million (+26.3% on an organic basis). All geographies performed strongly versus 2020.
In the fourth quarter, adjusted revenue increased by +37.8% to €509.3 million (+35.8% on an organic basis). All geographies performed strongly compared to Q4 2020 with
TRANSPORT
Full year adjusted revenue increased by +8.2% to €877.8 million (+8.5% on an organic basis) impacted by low international air traffic due to the Covid19 pandemic while revenues from public transport assets remained temporarily affected by local mobility restrictions. In
In the fourth quarter, the sequential improvement continued with an adjusted revenue growth of +42.8% to €307.6 million (+38.7% on an organic basis). All geographies grew significantly year-on-year.
BILLBOARD
Full year adjusted revenue increased by +15.4% to €426.7 million (+16.6% on an organic basis), growing significantly in all geographies vs 2020.
In the fourth quarter, adjusted revenue increased by +26.0% to €138.8 million (+23.5% on an organic basis). All regions are growing strongly with
ADJUSTED DATA
Under IFRS 11, applicable from
However, in order to reflect the business reality of the Group, operating data of the companies under joint control will continue to be proportionately integrated in the operating management reports used by directors to monitor the activity, allocate resources and measure performance.
Consequently, pursuant to IFRS 8, Segment Reporting presented in the financial statements complies with the Group’s internal information, and the Group’s external financial communication therefore relies on this operating financial information. Financial information and comments are therefore based on “adjusted” data, consistent with historical data prior to 2014, which is reconciled with IFRS financial statements.
In Q4 2021, the impact of IFRS 11 on adjusted revenue was -€74.8 million (-€58.9 million in Q4 2020), leaving IFRS revenue at €881.0 million (€636.2 million in Q4 2020).
For 2021, the impact of IFRS 11 on adjusted revenue was -€222.1 million
(-€212.0 million for 2020), leaving IFRS revenue at €2,522.5 million (€2,099.8 million for 2020).
ORGANIC GROWTH DEFINITION
The Group’s organic growth corresponds to the adjusted revenue growth excluding foreign exchange impact and perimeter effect. The reference fiscal year remains unchanged regarding the reported figures, and the organic growth is calculated by converting the revenue of the current fiscal year at the average exchange rates of the previous year and taking into account the perimeter variations prorata temporis, but including revenue variations from the gains of new contracts and the losses of contracts previously held in our portfolio.
€m | Q1 | Q2 | Q3 | Q4 | FY | |
2020 adjusted revenue | (a) | 723.6 | 351.9 | 541.2 | 695.1 | 2,311.8 |
2021 IFRS revenue | (b) | 416.7 | 577.7 | 647.1 | 881.0 | 2,522.5 |
IFRS 11 impacts | (c) | 37.6 | 50.3 | 59.4 | 74.8 | 222.1 |
2021 adjusted revenue | (d) = (b) + (c) | 454.3 | 628.1 | 706.5 | 955.8 | 2,744.6 |
Currency impacts | (e) | 10.6 | 4.8 | -6.6 | -15.3 | -6.5 |
2021 adjusted revenue at 2020 exchange rates | (f) = (d) + (e) | 464.9 | 632.8 | 699.9 | 940.4 | 2,738.0 |
Change in scope | (g) | 8.0 | 1.0 | -3.8 | -3.8 | 1.4 |
2021 adjusted organic revenue | (h) = (f) + (g) | 472.9 | 633.9 | 696.1 | 936.6 | 2,739.4 |
Organic growth | (i) = (h) / (a) - 1 | -34.6% | +80.2% | +28.6% | +34.7% | +18.5% |
€m | Impact of currency as of |
USD | 5.7 |
RMB | -10.2 |
GBP | -8.6 |
AUD | -8.2 |
Other | 14.8 |
Total | -6.5 |
Average exchange rate | FY 2021 | FY 2020 |
USD | 0.8455 | 0.8755 |
RMB | 0.1311 | 0.1270 |
GBP | 1.1633 | 1.1240 |
AUD | 0.6349 | 0.6043 |
Next information:
2021 annual results:
- 2021 revenue: €2,745m (a)
- N°1 Out-of-Home Media company worldwide
- A daily audience of more than 840 million people in more than 80 countries
- 964,760 advertising panels worldwide
- Present in 3,670 cities with more than 10,000 inhabitants
- 10,230 employees
- JCDecaux is listed on the Eurolist of Euronext Paris and is part of the Euronext 100 and Euronext Family Business indexes
- JCDecaux is recognised for its extra-financial performance in the
FTSE4Good (4.6/5) and CDP (A Leadership) rankings, and has obtained the MSCI AAA score for the 4th year in a row - 1st Out-of-Home Media company to join the RE100 (committed to 100% renewable energy)
- Leader in self-service bike rental scheme: pioneer in eco-friendly mobility
- N°1 worldwide in street furniture (489,500 advertising panels)
- N°1 worldwide in transport advertising with 156 airports and 249 contracts in metros, buses, trains and tramways (329,790 advertising panels)
- N°1 in
Europe for billboards (129,970 advertising panels) - N°1 in outdoor advertising in
Europe (615,530 advertising panels) - N°1 in outdoor advertising in
Asia-Pacific (216,590 advertising panels) - N°1 in outdoor advertising in
Latin America (66,120 advertising panels) - N°1 in outdoor advertising in
Africa (22,500 advertising panels) - N°1 in outdoor advertising in the
Middle East (15,350 advertising panels)
(a) Adjusted revenue
For more information about JCDecaux, please visit jcdecaux.com.
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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 statements.
These risks and uncertainties include without limitation the risk factors that are described in the annual report registered in
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.
+33 (0) 1 30 79 35 68 – albert.asseraf@jcdecaux.com
Investor Relations:
+33 (0) 1 30 79 79 93 – remi.grisard@jcdecaux.com
Attachment
Attachment
27-01-22 # JCDecaux Q4 2021_ENG
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