Ströer reports strongest first-quarter revenue in its history
Consolidated revenue up by 23% from EUR 312m to EUR 385m despite the pandemic and the war in Ukraine / Organic revenue increases by 24.1% / Adjusted EBITDA rises by 29% from EUR 73m to EUR 95m
Ströer SE & Co. KGaA has published its results for the first quarter of 2022. All in all, consolidated revenue increased by a substantial 23% in the reporting period, from EUR 312m to EUR 385m. This means that the Company once again achieved a new record level of first-quarter consolidated revenue despite challenges in the wider economic environment posed by the coronavirus pandemic and the war in Ukraine. Organic revenue growth came to 24.1%. At EUR 95m, adjusted EBITDA for the first quarter of 2022 was up by around 29% on the corresponding figure for the prior-year period (EUR 73m).
This healthy level of earnings once again underscores the success of the OOH+ strategy – the combination of the core OOH business with the related business segments Digital & Dialog Media and DaaS & E-Commerce. Ströer’s flexible positioning enabled it to contain the negative impact of the pandemic and downward pressure from the wider economic environment while at the same time allowing it to unlock opportunities and potential in its digital business lines. Digital out-of-home advertising and the sharp rise in demand for programmatic marketing were the main drivers of our strong growth, but all other business segments – including Asam and Statista – played their part too.
“The fact that we were able to generate a record level of revenue, despite the challenges in the wider economic environment posed by the continuing coronavirus pandemic and the war in Ukraine, is further proof of the strength of our unique positioning and the growing importance of OOH advertising. In this context, the impressive performance of our digital advertising formats is worthy of particular note. Against this backdrop, we will continue to systematically expand our digital portfolio this year,” says Udo Müller, founder and Co-CEO of Ströer.
“Our key financials have followed a very positive trajectory. This is clear proof that our OOH+ strategy is effective and resilient. Our strategic approach and the corresponding product portfolio offer advertising customers wrap-around solutions ranging from brand development with location-specific and content-specific reach to the full spectrum of dialog marketing and all the way through to the final transaction, plus customer retention. Very few companies are able to offer a portfolio as broad as ours,” says Christian Schmalzl, Co-CEO of Ströer.
OOH Media In the first three months of 2022, the revenue of the OOH Media segment increased substantially, by 55% in reported terms and by 54% in organic terms, from EUR 98m to EUR 152m. Over the same period, the segment’s adjusted EBITDA increased even more steeply, by 63%, from EUR 36m to EUR 59m, resulting in an adjusted EBITDA margin of 38.8% (Q1 2021: 37.0%).
Digital & Dialog Media In the first quarter of 2022, the Digital & Dialog Media segment also generated encouraging revenue growth of 8.5% in organic terms and 6% in reported terms, which represents an increase from EUR 161m to EUR 170m. Adjusted EBITDA came to EUR 37.4m and thus remained roughly on a par with the prior-year figure of EUR 37.7m. The adjusted EBITDA margin stood at 22.0% (Q1 2021: 23.5%).
DaaS & E-Commerce The DaaS & E-Commerce segment generated reported revenue growth of 26% and organic growth of 24%, with revenue jumping from EUR 56m to EUR 71m in the first quarter of 2022. Adjusted EBITDA in the first three months of the year came to around EUR 6m (Q1 2021: EUR 6.7m) and the corresponding adjusted EBITDA margin was 8.4% (prior year: 11.9%).
Disclaimer This press release contains "forward-looking statements" regarding Ströer SE & Co. KGaA ("Ströer") or the Ströer Group, including assessments, estimates and forecasts about its financial position, business strategy, plans and objectives of management and future business activities by Ströer or the Ströer Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could lead to the earnings situation, profitability, performance or results of Ströer or the Ströer Group being significantly different from the earnings situation, profitability, Performance or results that are expressly or implicitly assumed or described in these forward-looking statements. These forward-looking statements are made as of the date of this release and are based on numerous assumptions that may also prove to be incorrect. Ströer makes no representation and assumes no liability with regard to the correct presentation, completeness, correctness, appropriateness or accuracy of the information and assessments contained herein. The information contained in this announcement is subject to change without notice. They may be incomplete or abbreviated and may not contain all essential information relating to Ströer or the Ströer Group. Ströer assumes no obligation to publicly update or adapt the forward-looking statements or other information contained herein, either as a result of new information, future events or for any other reason.