E5C970DF-8D3C-4D9C-94D2-D346C03B48D3 10. November 2021

Double-digit revenue and earnings growth in the first nine months of 2021 thanks to a strong third quarter

Ströer SE & Co. KGaA is presenting its results for the third quarter of 2021. Whereas the first quarter had been affected by coronavirus-related restrictions and the second quarter saw a marked recovery, the third quarter was dominated by growth. Thanks to its diversified and flexible positioning under the OOH+ strategy – which combines the core OOH business with the related business segments Digital & Dialog Media and DaaS & E Commerce – Ströer has been able to tap into the rapid growth of the advertising market and make significant advances in its main key figures.

Overall, the Group’s consolidated revenue increased by 11% in the first three quarters of 2021, from EUR 987m to EUR 1.1b. Organic revenue growth was equally high at 11%. EBITDA (adjusted) for the first three quarters of 2021 rose by 10% year on year to reach EUR 319m (prior year: EUR 291m).

“Business performance in the first nine months of this year underlines how well we are positioned to deal with a crisis. The OOH+ strategy is paying off, firstly because we have business models that were unaffected by the pandemic and, secondly, because our core OOH business was able to swiftly return to growth after the lockdown in the first half of the year thanks to the flexible sales organization,” says Udo Müller, founder and Co-CEO of Ströer.

“Our diversified positioning has meant that in the last few quarters we have been able to contain the negative impact of the coronavirus pandemic on our core out-of-home business and, at the same time, unlock long-term opportunities and potential in our digital business lines, particularly Asam and Statista,” says Christian Schmalzl, Co-CEO of Ströer. “For this year, our expectations remain positive. We anticipate revenue for 2021 of around EUR 1.6b and EBITDA (adjusted) of between EUR 490m and EUR 510m. Moreover, our digital infrastructure is expanding at pace, making us optimistic for the future. Our business is excellently positioned to deliver consistent and profitable growth.”

OOH Media
In the third quarter of 2021, the revenue of the OOH Media segment increased by around 25% year on year, both in reported and in organic terms, from EUR 156m to EUR 194m. The segment’s EBITDA (adjusted) grew by 33% in the same period, from EUR 72m to EUR 95m. The EBITDA margin (adjusted) improved from 45.9% in the third quarter of 2020 to 48.8% in the same quarter of this year.

Digital & Dialog Media
The Digital & Dialog Media segment also generated revenue growth in the third quarter of 2021. Reported revenue rose by 4.1% to EUR 170m (Q3 2020: EUR 164m). Organic growth was 2.2%. EBITDA (adjusted) fell slightly, by 2.5%, to EUR 43m in the third quarter of 2021 (Q3 2020: EUR 44m). The EBITDA margin (adjusted) stood at 25.4% (Q3 2020: 27.1%).

DaaS & E-Commerce
The DaaS & E-Commerce segment generated organic revenue growth of 43%, with revenue jumping from EUR 44m to EUR 63m in the third quarter of 2021. Due to the accelerated growth and the spending that this entailed, EBITDA (adjusted) in the third quarter came to around EUR 8m (Q3 2020: EUR 7m) and the corresponding EBITDA margin (adjusted) was 12.0% (Q3 2020: 15.6%).

 

 

 


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.