JCDecaux: 2024 net income +24% to E258.9m

(CercleFinance.com) - Group sales for 2024 rose by +10.
2%, +9.7% organically, to E3,935.3m.

While digital grew strongly, analog sales were very robust, with mid-single-digit growth, despite the conversion of some premium sites to digital, it says.

Over FY 2024, its operating margin improved by E101.4m to E764.5m (vs. E663.1m in 2023), up +15.3% y-o-y.

Operating income rose by +44.8%, or +E126.5m, to E408.7m.

Net income rose by +23.8% to E258.9m, up 36.8% to E281.5m before depreciation.

The improvement was driven by a solid operating performance and the capital gain on the APG|SGA transaction, it says.

Excluding non-recurring items such as the capital gain on APG|SGA, net income, group share, also rose by 38% y-o-y.

We expect organic sales growth of around +5% in Q1. In the future, building on this strong sales momentum, we are targeting an operating margin of over 20% and free cash flow of over E300m by 2026, management adds.


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