oOh!media Limited (ASX:OML) Releases 2024 Full Year Results
Financial Performance
oOh!media Limited reported a revenue of $636 million for the 2024 financial year, a slight increase of 0.3% compared to the prior year. Gross profit rose by 4% to $433.8 million, and the adjusted gross margin improved to 44.7%, up by 0.4 percentage points. Adjusted underlying EBITDA was $128.9 million, a marginal decrease of 1%. Net profit after tax increased by 6% to $36.6 million, with earnings per share rising by 9% to 6.8 cents. The company declared an interim fully franked dividend of 3.5 cents per share.
Operational Highlights
oOh!media secured $38 million of incremental annualised revenue from new contracts starting in 2025. The company also signed three new reo contracts with Petbarn, Officeworks, and a pilot with Australia Post. Its extensive network comprises over 35,000 assets across Australia and New Zealand, reaching over 98% of metropolitan Australians weekly.
Strategy and Outlook
oOh!media focuses on three strategic pillars: energising its go-to-market strategy, unlocking network potential, and leading in retail media. Looking ahead, the outlook for Q1 2025 is positive with double-digit revenue growth anticipated. The company projects an 8% growth in the Out of Home sector for 2025 and plans to achieve approximately $15 million in cost reductions for CY25 through restructuring and investments in growth initiatives.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.