On a reported basis, revenues increased by 5.3 percent to 577.1 million Euro compared to 548.1 million Euro in the same period last year. Organic revenue growth of 8.4 percent was stronger than originally expected with Asia-Pacific, France and the Rest of the World making the most significant positive contribution.
“Our strong Q3 organic revenue growth demonstrates once again our capacity to outperform the Media market. This performance was driven by the ongoing strength of our Transport division with its unique exposure to Asia-Pacific combined with sound growth in our core Street Furniture markets such as France and Germany“, commented Jean-François Decaux, Chairman of the Executive Board and Co-Chief Executive Officer. „While we remain cautious given the current market uncertainties, we expect organic revenue growth of around 5 percent for the full year.“
Core advertising revenues increased by 7.6 percent organically, mostly driven by the Transport segment which continues to benefit from its exposure to Asia-Pacific. Non advertising revenues posted a 16.9 percent increase during the third quarter of the year.
Despite concerns around the European economic environment, both France and Germany delivered double-digit growth in advertising revenues during the quarter. North America posted a strong organic growth on a like-for-like basis (excluding the impact of the non-renewal of a low-profitability shopping mall contract). It is also worth noting that fast-growing markets such as Turkey, India and Kazakhstan posted double-digit growth in the third quarter. The UK however posted a slight decrease and softer conditions continued in Southern Europe.
Looking forward, with our increasing exposure to fast-growing markets, our growing digital portfolio, our ability to win new contracts and the high quality of our teams across the world, we remain confident that we will continue to outperform the media market. We also believe that the strength of our balance sheet will, more than ever, be a key competitive advantage over the medium term”, said Decaux.