Software

OOH company oOh!media releases 2020 financial results

February 25, 2021

OOh!media, an OOH company has released its financial results for 2020. Although the company saw revenue dip by 34% due to the pandemic, it also saw cash savings and strong audience and revenue recovery in the fourth quarter, according to a press release.

Some of the results include:

• $63.2 million EBITDA in 2020 compared to $139 million in 2019.
• Loss of $8 million compared to $52.4 million profit in 2019.
• Raised $167 million in capital.
• Increased market share in Australia and New Zealand
• Delivered more than $120 million cash savings with rent savings, capital and operational savings and more.
• Saw 70% total revenues in fourth quarter compared to Q4 2019.

"The unprecedented restrictions on people movement and resulting audience decline impacted Out of Home more severely than other media segments," Cathy O-Connor, CEO, oOh!media said in the release. "In response, oOh! acted quickly and decisively to maintain and strengthen our competitive position. That included a $167 million equity raising, refinancing of debt facilities, negotiation with property partners to deliver $63 million in net fixed rent savings, capital expenditure reduction of $49 million and operational cost savings of $16 million.