Ooh!Media’s CY18 financial results are out, showing double-digit revenue growth to reach $482.6 million.
Revenue is up 27 percent from CY17, while its gross profit of $225.7 million is up 29 percent.
Its total underlying EBITDA increased by 25 percent to $112.5 million with organic underlying EBITDA growth (excluding Commute) increased by five percent to $94.2 million.
The revenue increase has been credited to the acquisition of its Commute business (formerly Adshel) in September last year.
In the announcement, Ooh!’s CEO, Brendon Cook, says 2018 was a transformational year as the company continued to build a sustainable and growing out of home business for the future.
“The acquisition of Commute brings the highly complementary segments of street furniture and rail to our portfolio.”
He added Commute delivered strong revenue and earnings in the fourth quarter.
Meanwhile, its Road offer saw a 13 percent increase in revenue, and Retail revenue declined two percent. An overall three percent decline in Australia’s Retail was partially offset by double-digit growth in New Zealand.
Ooh!’s Fly offer lifted its revenue by 23 percent, including the revenue contribution from Qantas In-flight that was ahead of expectations.
And finally, Ooh!’s Locate offer also delivered double-digit growth, with a 25 percent increase.