oOh!media Limited’s Shareholders Approved All Resolutions At Annual General Meeting

The leading media company, oOh!media Limited (ASX: OML) held its Annual General Meeting on 16 May 2019. At the AGM, the company’s shareholders voted for 7 resolutions and all the 7 resolutions were passed.

AGM Results (Company Reports)

While addressing the shareholders at the AGM, the company’s chairman Tony Faure informed how well the company has progressed in 2018. According to him, the year 2018 was transformational for the company as it continued to implement its strategy to build the most diverse and integrated Out Of Home company to connect audiences, advertisers and citizens.

With the acquisition of Adshel (rebranded as Commute), the company has now entered the highly complementary segments of street furniture and rail which further diversifies and improves oOh!’s network reach and frequency in key metropolitan and some regional areas.

The acquisition has positioned the company as the largest Out Of Home company across both Australia and New Zealand and moreover, it is also in line with the company’s digital strategy. The company believes that there are significant opportunities to digitise the Commute network to drive improvements in both revenue and yield.

In 2018, the company delivered revenue growth while maintaining its ongoing investment in products, people and infrastructure for future earnings growth.

Over the period, the company’s total revenue increased by 27% to $482.6 million, reflecting organic growth across the oOh! business and also three months’ revenue contribution from the Commute business.

During the year, the company’s underlying NPATA increased by 18% to $51.1 million, reflecting organic growth and three months’ profit contribution from the Commute business, partially offset by the company’s continued investment in its people and systems as part of the company’s strategy to deliver sustainable growth for the future.

The company’s board has declared a fully franked final dividend of 7.5 cents per share, bringing the full year dividend to 11.0 cents per share fully franked. This is in line with the Board’s policy to pay 40-60 per cent of Underlying NPATA as dividends.

The company’s Out Of Home sector is expected to continue to gain market share across media formats. The company will keep on focusing on integrating Commute and rolling out its data analytics platform.

Now, let’s have a glance at the company’s stock performance and the return it has posted over the past few months. The stock is trading at a price of $3.740, up by 5.056% during the day’s trade with a market capitalisation of ~$851.98 million as on 16 May 2019. The counter opened the day at $3.580 and reached the day’s high of $3.750 and touched a day’s low of $3.580 with a daily volume of ~931,730. The stock has provided a year till date return of 4.71% & also posted returns of -20.36%, -8.48% & -8.01% over the past six months, three & one-month period respectively. It had a 52-week high price of $5.480 and touched 52 weeks low of $3.350, with an average volume of ~1,543,645.


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