Ocean Outdoor (LON: OOUT) operates some of the most prestigious digital out-of-home (DOOH) locations in the UK, Northern and Continental Europe such as the BFI IMAX; the Landsec Piccadilly Lights and a significant presence in the top 12 UK cities. Ocean’s portfolio of high-profile landlords and partners includes Birmingham, Manchester, Glasgow and Southampton City Councils, Landsec, Unibail-Rodamco-Westfield, the BFI and intu.
Ocean has enjoyed revenue growth through a combination of organic growth, strategic acquisitions and investment in its technology. Ocean continues to deliver good organic development through new City tender wins, the rollout of new locations in Scotland, London, the West Midlands and Manchester and significant screen investment.
Recent acquisitions have included three Dutch additions to the group in spring 2019, giving the company a significant share of the Netherlands market where it has become a major DOOH player. These subsidiaries have since been rebranded as Ocean Netherlands.
In September 2019, Ocean acquired the assets of Visual Art, a Sweden based independent, pure-play DOOH media and tech group which operates in three Nordic countries (Sweden, Norway, Denmark) and key cities in Germany. This transaction expands Ocean’s portfolio across 23 Unibail-Rodamco-Westfield shopping malls in Europe, in addition to holding the exclusive external rights to two of the largest premium urban shopping malls in Europe: Westfield London and Westfield Stratford in the UK.
In February 2020, Ocean closed the acquisition of AdCityMedia, a Sweden-based premium out-of-home and digital screen tech operator focused on large format digital and high-end city centre locations across Sweden, Norway, Denmark and Finland. The combined entities of Visual Art and AdCityMedia, referred to as Ocean Nordics, will create the leading DOOH operator in the region.
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Ocean Outdoor Limited (LSE: OOUT), a leading operator of premium Digital Out-of-Home (“DOOH”) advertising in the United Kingdom, the Netherlands, …
|P&L||31 Dec 2020|
|31 Dec 2019
|(Cost of Sales)||(63,724)||(59,154)|
|Profit/ (Loss) before tax||(184,296)||(5,247)
|P&L||31 Dec 2020|
|31 Dec 2019
|Cash & cash equivalents ||30,030||26,917|
PWC : “UK ‘Out of Home’ advertising revenue in 2019: £1.3bn (2018: £1.21bn) – Digital ‘Out of Home’ expenditure accounted for 53% of this (2018:50%)
Advertising group Ocean Outdoor has launched a £10m fund offering free ad space to the retailers and small businesses hardest hit by the coronavirus crisis.
The fund will give businesses and brands access to advertising space on the company’s network of screens in 12 UK cities.
Ocean Outdoor’s acquisition strategy and expansion into six new countries last year has paid off as it posted a double-digit rise in revenue.
Numis (House broker – June 2020)
“FY results consistent with the trading update in February, underlying revenues up a strong +14%. Q1 revenues down 4% as the pandemic hit, with early signs of some recovery starting to come through in late June into Q3. Recently signed finance facilities provide £67m of Group liquidity, more than enough flexibility to see the group through current unprecedented trading issues. The out-of-home market continues to outperform traditional media and Ocean is well-placed to continue taking market share and drive long term growth. Whilst COVID-19 presents a major challenge, management believe that circumstances have also highlighted the importance and impact of DOOH as a medium. As public restrictions are eased, Ocean will be ready to take the lead by inspiring people to get back out there and rebuild.”