JCDecaux SE (JCDXF) Q4 2024 Earnings Call

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WEBVTT 00:00:00.183 -- 00:00:05.510 Good morning everyone and welcome to our 2024 Full Year Results Conference Call. 00:00:05.510 -- 00:00:10.538 The speakers on this call will be Jean-François Decaux, Co-Chief Executive Officer, David 00:00:10.538 -- 00:00:15.204 Bourg, Chief Financial IT and Administrative Officer, and I. 00:00:15.204 -- 00:00:21.851 Rémi Grisard, Head of Investor Relations, is also attending today's conference call. 00:00:22.234 -- 00:00:26.626 2024 was a very robust year for JEC Decaux. 00:00:26.626 -- 00:00:32.071 thanks to our unique and geographically well-diversified global OOH media footprint. 00:00:32.071 -- 00:00:36.375 We are reporting today very solid numbers for 2024, 00:00:36.375 -- 00:00:41.960 including a strong organic revenue growth at 9.7 and double-digit 00:00:41.960 -- 00:00:46.604 increases in all our key financial indicators. 00:00:46.604 -- 00:00:51.629 All this despite the challenging macroeconomic and geopolitical environment, 00:00:51.629 -- 00:00:57.592 including a lack of recovery in China, which remains well below 2019. 00:00:57.727 -- 00:01:03.876 We achieved in 2024 a group revenue above 2019, and most importantly, 00:01:03.876 -- 00:01:07.999 an operating margin of €764.5 million, 00:01:08.282 -- 00:01:10.803 growing by 15.3%, 00:01:10.825 -- 00:01:14.868 and a net income of €258.9 million, 00:01:15.852 -- 00:01:21.220 growing by 23.8%, and a free cash flow of €231.9 million, 00:01:21.220 -- 00:01:23.220 all 00:01:23.683 -- 00:01:26.920 close to their record highs. 00:01:26.920 -- 00:01:32.384 We think we can continue to grow these numbers in the coming years. 00:01:32.486 -- 00:01:37.892 Moving to the next slide, with an organic growth rate close to 10%, GCDECO 00:01:37.892 -- 00:01:44.517 and more broadly, OOH cont...