JCDecaux SE (JCDXF) Q4 2023 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Jcdecaux Se.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.385 -- 00:00:05.950 Good afternoon, everyone. Good morning to those of you in the US and welcome to our 2023 00:00:05.950 -- 00:00:11.235 full year results conference call, which is also being webcast. 00:00:11.235 -- 00:00:16.480 The speakers on this call will be Jean-Charles Decaux, Co-CEO, David Bourg, Chief Financial 00:00:16.480 -- 00:00:19.242 Officer, IT and Administrative, 00:00:19.242 -- 00:00:24.247 and myself, Rémi Grisard, Head of Investor Relations, is also attending 00:00:24.247 -- 00:00:27.249 today's conference call. 00:00:27.249 -- 00:00:30.642 On slide four, 2003, 00:00:30.642 -- 00:00:35.869 has been a positive year for JCDecaux with a solid business momentum 00:00:35.869 -- 00:00:39.093 leading to an improved financial performance. 00:00:39.093 -- 00:00:42.515 Our revenue increased by 8.7% organically, 00:00:42.758 -- 00:00:47.822 driven by the strong growth of digital revenue above 20%. 00:00:48.666 -- 00:00:52.891 Digital revenues now represent more than a third of our business at the record 35.3% 00:00:52.891 -- 00:00:55.131 for 2023. 00:00:56.140 -- 00:01:02.546 Programmatic revenues have been especially dynamic this year, growing more than 60% year-on-year 00:01:02.546 -- 00:01:05.649 with more than 100 million euros of advertising revenue in 2023. 00:01:05.649 -- 00:01:07.949 We remain 00:01:07.991 -- 00:01:13.256 best-in-class in ESG as shown by our recent A-list inclusion 00:01:13.256 -- 00:01:16.799 by CDP Climate. 00:01:16.799 -- 00:01:21.903 We have proved that we are able to have a positive operational leverage by growing 00:01:21.903 -- 00:01:27.003 our operating margin more than our revenue at plus 10% year-on-year despite 00:01:27.003 -- 00:01:32.047 a decrease in China, given the soft revenue recovery. 00:01:32.109 ...