13.08.2020

Ströer presents its results for the first six months of 2020: Robust performance in the Covid-19 crisis

Consolidated revenue down 15% to EUR 632m due to coronavirus pandemic (prior year: EUR 744m) / Organic revenue growth down 14% / EBITDA (adjusted) down 27% from EUR 256m to EUR 185m

Ströer SE & Co. KGaA presents its figures for the first six months of 2020. The coronavirus pandemic and the temporary restrictions on public life during the months of the second quarter underscore the strength of the  “OOH+” strategy – the combination of the core OOH business and the supporting Digital OOH & Content and Direct Media segments. In a challenging environment for out-of-home advertising, content-based business fields such as t-online, the leading global business data platform, Statista, as well as the direct media activities demonstrated their strength.

In this context, consolidated revenue in the first six months of 2020 decreased by – a comparatively moderate – 15.0% from EUR 744m to EUR 632m. Organic revenue growth was at a similar level at -14.3%. At EUR 185m, EBITDA (adjusted) for the first six months of 2020 was down by around 27% on the comparative prior-year figure of EUR 256m.

“The strength of our strategic positioning is especially visible in times of great challenges, such as the current coronavirus pandemic and the temporary shutdown of public life. With our OOH+ strategy and focus on Germany, we were able to successfully meet these challenges,” says Udo Müller, founder and Co-CEO of Ströer.

“With our dedicated employees and strict cost management, we surpassed the targets communicated in May for the second quarter. Against this background, we have continued to invest prudently in strategic projects, such as the expansion of our digital infrastructure,” says Christian Schmalzl, Co-CEO of Ströer.

 

OOH Media

Due to the lockdown in the months of April and May and gradual resumption of public life from June, revenue in the OOH Media segment was down in the first six months of 2020, both reported and organic, by around 26% from EUR 324m to EUR 240m. The segment’s EBITDA (adjusted) decreased in the same period by 38% from EUR 147m to EUR 91m, the EBITDA margin (adjusted) stood at 38.0% (H1 2019: 45.3%).

Digital OOH & Content

Revenue in the Digital OOH & Content segment was comparatively robust in the first six months of 2020. Revenue was down moderately, organically by 6.9% and reported by 7.9%, from EUR 266m to EUR 245m. EBITDA (adjusted) decreased only slightly by comparison to revenue and stood at EUR 82m, down around 11% on the prior-year comparative figure of EUR 92m. The EBITDA margin (adjusted) was 33.6% (H1 2019: 34.7%).  

Direct Media

Revenue in the Direct Media segment was down in the first six months of 2020 by around 7% from EUR 171m to EUR 159m. Organic revenue for the segment was down 5%. EBITDA (adjusted) in the first six months stood at around EUR 22m (H1 2019: EUR 25m), with an EBITDA margin (adjusted) of 14.0% (H1 2019: 14.8%).

 

Disclaimer

This press release contains “forward looking statements” regarding Ströer SE & Co. KGaA (“Ströer”) or the Ströer Group, including opinions, estimates and projections regarding Ströer’s or the Ströer Group’s financial position, business strategy, plans and objectives of management and future operations. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ströer or the Ströer Group to be materially different from future results, performance or achievements expressed or implied by such forward looking statements. These forward looking statements speak only as of the date of this press release and are based on numerous assumptions which may or may not prove to be correct. No representation or warranty, express or implied, is made by Ströer with respect to the fairness, completeness, correctness, reasonableness or accuracy of any information and opinions contained herein. The information in this press release is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning Ströer or the Ströer Group. Ströer undertakes no obligation to publicly update or revise any forward looking statements or other information stated herein, whether as a result of new information, future events or otherwise.