Where Is Ooh! Media Heading?

  • Feb 27, 2019 AEDT
  • Team Kalkine
Where Is Ooh! Media Heading?

The North Sydney, Australia-based, Ooh! Media Limited (ASX: OML), operates as an outdoor advertising business company in Australia and New Zealand. It provides clients with the access to a broader audience through its wide range of out of home advertising spaces like large format roadside billboards; different format sites at the shopping centres, airport terminals and airline lounges; CBD office buildings, cafés, universities and others.

Recently, the Ooh! Media’s chief executive Brendon Cook quoted that “the company expects the upcoming elections and an earlier Easter to hit billboard bookings as major brands keep out of the noise of the political cycle”.

Post the statement release by Mr Cook, , the OML stock price closed the trading session on 26 February at AUD 3.510, nosediving by 5.898%, indicating an intra-day loss of AUD 0.220. The stock is currently trading at AUD 3.495 (27 February, 2:20 PM), almost close to its 52-week low of AUD 3.350. The YTD return, however, stands positive at 3.24%.

Prior to this, however, the company announced its decent FY2018 results highlighting the double-digit organic revenue growth of 10% to $ 416.8 million, extensively driven by the substantial contribution from the Commute business, acquired back in September 2018, that led to the total revenue increasing by 27% to $ 482.6 million. The gross profits were up 29% on the previous FY2017, amounting to $ 225.7 million. Besides, the total underlying EBITDA was posted at $ 112.5 million, up by 25% and the organic underlying EBITDA at $ 94.2 million, also up by 5% on FY2019.

Moreover, the underlying NPAT before acquired amortisation was recorded at $ 51.1 million during the period, indicating a rise of 18% on FY2017. The company also paid out fully franked final dividend of 7.5 cents per share.

Overall, the company had a remarkable year as it continued to deliver ground-breaking campaigns based on extensively creative content and data across different formats, representing the company’s reach and effectiveness through a diversified portfolio.

On February 26th, six companies including Yarra Funds Management Limited, Yarra Capital Management Holdings Pty Ltd, Yarra Management Nominees Pty Ltd, AA Australia Finco Pty Ltd, TA SP Australia Topco Pty Ltd and TA Universal Investment Holdings Ltd increased equity interest holding in the company from 9.1028% to 10.30%.

Going forward, Ooh! Media has ascertained to gain market share across media platforms in the future. It also aims to focus on integrating Commute and rolling out its data analytics platform for commercial operations. As of late, the media revenue for the first quarter FY2019 (Q1) is moving at over 9% year-on-year on a proforma basis. The guidance for FY2019 Underlying EBITDA stands at $ 152.0 - $ 162.0 million, with opex growth between 5-7%. Also, the revenue and earnings are anticipated to be skewed towards the second half of FY2019 in line with past trends. Capex spends are also estimated between $ 55 million-$ 70 million at the ned of the period.

At the backdrop of an excellent previous financial year and positive futuristic outlook, the investors are watching the stock closely to tap into foreseeable benefits.


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