The rise in earnings before interest, tax, depreciation and amortisation came on the back of a 2.2% decline in revenues for 2003, falling to €1.54bn, with JCDecaux saying that it had maintained strong control over costs in established markets and that the US and Asia Pacific had made a positive contribution for the first time.
Earnings at the billboard division fell for the year by 1.8% to €54.4m but the operating margins rose after costs were cut.
Earnings for the street furniture business rose by 2.4% to €328.5m while transport earnings were up 45.7% to €14m, although Asia Pacific remained affected by the impact of the Sars virus.
JCDecaux said it was planning to focus on organic growth with several big contracts coming up this year, including bus shelter contracts in New York and London and the UK railway stations and billboards account.
Jean-Francois Decaux, chairman and co-chief executive officer, said: "Demand remains solid in the US and Asia Pacific, and is gradually improving in Europe. For the 2004 full year we expect the group's organic revenue growth to be stronger than that achieved in 2003, leading to further improvement in profitability."
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .
_1.jpg)
.jpg)
