e1b87330ca581f8ab2c0ab64ea2d9519

Ooh! Media Limited

(OML)

ASX

Recommendation:

Neutral

Share Price:

AUD

Market Cap:

$

OoH! Media: Reopening Benefactor

26 August 2022

Out-of-home advertiser Ooh! Media shares have been climbing higher after releasing a better-than-expected result for the first half of the 2022 financial year. OML had been oversold since the start of the year as digital advertising spending starts to wane off from the pandemic boom and advertising spending set to fall on weaker economic outlook. However, for OML, it’s likely to be the other way around, being heavily impacted by the pandemic, while reopening will see advertising shift their budgets away (or limit their increase) from digital and increase allocation towards out of home, which has its awareness recovery to pre-pandemic levels.   The result was buoyed by the ease in covid restrictions and opening of international borders increasing advertising spend back in the sector. Accordingly, revenue was up +10% from last year to $276.1m, and operating earnings (EBITDA) soared +62% from last year to $51.5m.

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Recommendation:

Neutral

Share Price:

AUD

Market Cap:

$

Latest Research on OML.ASX

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29 August 2021

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