Ooh Media revenue down 34% in CY20 but Q4 showing recovery
Ooh Media Limited (Ooh Media) has reported a decline in revenue for a heavily COVID-impacted year ending 31 December 2020 (CY20). The leading Out-Of-Home (OOH) provider increased its market share in ANZ, maintaining its #1 position, but saw revenue decline by 34% to $426.5 million.
In its ASX announcement today, Ooh Media admitted that 2020 had been a “challenging year”, but pointed to the company implementing a series of measures to strengthen its financial position and reduce its cost and capital expenditure base by over $120 million.
Ooh reported underlying EBITDA of $63.2 million in CY20 compared to $139.0m in CY19, and an underlying NPATA4 loss of $8 million compared to $52.4 million in the prior corresponding period. Net loss after tax was $35.7 million for the year.
