JCDecaux (DEC) Q1 2025 TU earnings summary

Executive summary

• Achieved record Q1 revenue of €858 million, up 7.0% year-over-year, with organic growth of 5.5%, surpassing expectations.

• Digital revenue grew 17.0%, with programmatic digital OOH media up 29.9%.

• All business segments and geographies contributed to growth, despite a challenging macroeconomic environment.

Financial highlights

• Q1 2025 revenue: €858.0m vs €801.6m in Q1 2024 (+7.0% reported, +5.5% organic).

• Street Furniture: €422.5m (+5.4% reported, +5.3% organic).

• Transport: €315.0m (+9.3% reported, +6.1% organic).

• Billboard: €120.5m (+7.1% reported, +4.6% organic).

• Advertising revenue (excluding sales/rental/maintenance): +5.8% organic growth.

Outlook and guidance

• Q2 2025 organic revenue growth expected to be low single digit, reflecting high economic and geopolitical uncertainties.

• Street Furniture pacing mid-single digit growth; Transport and Billboard currently pacing flat.