Digital driving APN Outdoor profit growth

Digital is proving a winner for APN Outdoor as it records a FY15 revenue growth of 11 per cent, and a before tax profit of $31.3m – up from $20.7m compared to last year. The outdoor media host’s revenue increased by 11 per cent from last year’s $225.8m to $250.6m, driven mainly by a 118.2 per cent growth in digital outdoor. Print revenue increased by 3.5 per cent. Not surprisingly the company says it will continue to digitise its inventory

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The overall digital revenue growth was $32.3m which increased from $14.8m compared to the year before. The company’s static media increased by 3.5 per cent to $218.3m compared to $211m from the year before. The company saw a revenue growth of 9.7 per cent to $230.1m for its Australian operations, and for its New Zealand arm it saw revenue growth of 27.3 per cent to $20.5m for 2014 compared to last year’s $16.1m. Richard Herring APN Outdoor CEO says strong financial performance and market share gains reflect the growth strategy of the business together with positive outdoor industry advertising trends. Herring says, “We achieved the 2014 prospectus financial forecasts in all key areas and remain dedicated to our continued digitising of our inventory. APN Outdoor’s performance in 2014 was characterised by successful contract renewals and wins, and the results of establishing a first mover advantage and leadership position in large format digital screens in both Australia and New Zealand.” The out-of-home advertising company’s overall EBITDA for FY15 increased 33.7 per cent to $45.3m from last year’s $33.8m. Herring says the end of calendar year saw ‘good momentum’ for the business into 2015 and reinforced the company’s confidence in achieving their 2015 prospectus targets. “We expect to see the outdoor media sector continue to outperform most other media sectors [in 2015].”

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