JCDecaux recorded lacklustre FY17 results. As a reminder, the group had already reported its FY17 revenues at the end of January (up 2.3% to €3,471.9m adjusted, i.e. before applying IFRS11 and +3.2% organically). The adjusted OP (i.e. before IFRS11, i.e. proportionately consolidating JVs instead of under the equity method) reached €653.5m, up 1.1%, under our forecasts (€693m) and versus €647m in FY16. This means an 18.8% operating margin, down from 19.1% in FY16 and compar
09 Mar 2018
A mixed picture
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A mixed picture
JCDecaux SE (DEC:PAR) | 0 0 -0.1% | Mkt Cap: 7,010m
- Published:
09 Mar 2018 -
Author:
Véronique Cabioc'h -
Pages:
3
JCDecaux recorded lacklustre FY17 results. As a reminder, the group had already reported its FY17 revenues at the end of January (up 2.3% to €3,471.9m adjusted, i.e. before applying IFRS11 and +3.2% organically). The adjusted OP (i.e. before IFRS11, i.e. proportionately consolidating JVs instead of under the equity method) reached €653.5m, up 1.1%, under our forecasts (€693m) and versus €647m in FY16. This means an 18.8% operating margin, down from 19.1% in FY16 and compar