oOh!media loses Auckland Transport contract
Key points
- Contract representing 4% of FY24 revenue not renewed
- Company maintains diverse lease maturity profile and contract discipline
- Confident in maintaining leading position in New Zealand Out Of Home market
Full summary
oOh!media Limited (ASX:OML) has been informed by the Auckland Transport Authority that its contract, which was due to expire on 30 September 2025, will not be renewed. While oOh! is disappointed with this outcome, it has planned for this eventuality and is confident in maintaining a leading position in the New Zealand Out Of Home market. The contract represented 4% of oOh!'s FY24 reported revenue. Auckland Transport has confirmed its plans to transition out of the current arrangement by October 2025. oOh! maintains a diverse lease maturity profile and strong contract discipline with a focus on achieving sustainable margin and earnings growth and returns on capital.
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