COLOGNE (dpa-AFX) - Out-of-home advertising specialist Stroer wants to take the momentum from strong Christmas business into the new year. In 2024, the Group's organic sales growth should be significantly higher than the previous year's figure of 7.5 percent, said Co-CEO Christian Schmalzl in a statement on Tuesday. Adjusted for exchange rate effects and acquisitions, revenue from the core out-of-home advertising business should increase by up to 15 percent in the first quarter. Stroer's digital out-of-home advertising is also located in this segment: according to the Group, this sub-segment grew by a third by the end of 2023.

Based on preliminary figures, Stroer increased its turnover last year by just under eight percent to a good 1.9 billion euros. According to the MDax group, this means it performed significantly better than the advertising market as a whole, which had to contend with stagnating revenue. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITDA) increased by five percent to 569 million euros. Analysts had expected roughly the same for both key figures.

At 81 million euros, the free cash inflow was around 60 percent higher than a year ago. The Management Board plans to present the full annual report on March 25./ngu/jha/stw