Tuesdata: Unpacking Ooh Media's financial results; can the good old days of 2019 return?
Welcome to Tuesdata.
In today’s edition we look at how Australia’s largest listed outdoor company Ooh Media emerged from 2022, with an in-depth analysis of the company’s results, which were released yesterday. We’ll be examining how the company has performed since listing on the ASX eight years ago, and (for those interested in such things), we’ll be digging into the Annual Report which amongst other things discloses CEO Cathy O’Connor’s remuneration for the year.
Further down, there’s also an update on the third down-day in a row on the Unmade Index.
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Four years on, will 2023 be the year Ooh Media moves beyond Covid?
If there’s a benefit to arriving at the helm of a company one year into a pandemic, it’s the fact that beating the previous year‘s numbers is a little more achievable.
After starting in the CEO role early in 2021, Cathy O’Connor has now delivered two consecutive years of growth for Ooh Media, in both revenues and profit.
However, the company is yet to bounce back to its 2019 high point. And if 2023 will be the year for that, will be determined by whether the following winds of digital-driven sector growth can outblow the headwinds of a slowing economy.
Without being foolhardy enough to offer full year guidance, Ooh’s update drew attention to analysts’ predictions of growth in the sector, and let the market reach its own conclusions, point to SMI data about how agencies are once again dialling up the proportion of client budgets they push into out of home.
The market seemed to buy the argument, with the Ooh Media share price rising by more than 4% for the day, taking the company back above a $900m market capitalisation.
Unusually for the ASX, Ooh Media reports its annual results against a calendar year. So unlike most companies which have reporting their half year results this month, Ooh Media’s covered the full 12 months.
Let’s start with a key piece of data - our comparison of Ooh Media’s annual performance since the company hit the ASX.