Ströer SE 9M Adj. Earnings Rise On Revenue Growth; Says Confident Of Rest Of FY24

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(RTTNews) - German advertising marketer Ströer SE & Co. KGaA (SOTDY) reported Wednesday higher earnings, on an adjusted basis, in the first nine months of fiscal 2024, with improved revenues.

Adjusted EBIT, a key earnings metric, advanced 22 percent to 192 million euros from last year's 158 million euros.

Adjusted EBITDA grew 12 percent to 420 million euros from 375 million euros a year ago.

Ströer increased its consolidated revenue by more than 8 percent to 1.46 billion euros from prior year's 1.35 billion euros. Organic revenue growth was 8 percent.

In the out-of-home or OOH advertising segment, revenue grew around 9 percent to 237 million euros in the third quarter, reflecting the ongoing evolution of the media mix in Germany. Digital out-of-home or DOOH advertising rose 24 percent to around 93 million euros.

Looking ahead, in the medium term, Ströer expects DOOH to account for at least 50 percent of segment revenue.

Christian Schmalzl, Co-CEO of Ströer, said, "... we believe that our out-of-home advertising business will grow by a high single-digit percentage in the fourth quarter, driven by strong DOOH activities. The Digital & Dialog Media segment should achieve mid-single-digit percentage growth and our third segment, DaaS & E-Commerce, is expected to advance more rapidly thanks to Statista. All in all, therefore, we are confident about the remaining weeks of 2024."

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