Insider has two thoughts about last Friday’s JCDecaux third quarter earnings announcement.
Billboards and street furniture are rebounding from covid the fastest.
JCDecaux revenue was down 41% in the 3rd quarter of 2020. The worst impact of covid was on the company’s transit business which is down 52%. Covid needs to be extinguished for transit ridership and revenues to rebound. Billboards and street furniture were down 29%.
The market will come back.
The company’s China business is rebounding. Jean-Charles Decaux cited “improvement over the third quarter in Mainland China in businesses exposed to domestic audiences which are almost back to pre-Covid level.” Insider notes that there are 11 of the 154 potential covid vaccines are in Phase 3 or the final stage testing. Bill Gates expect that the vaccine will be widely available early next year. Transit, airport, restaurant and in office audiences should begin to recover from that point on.