Ströer announced its Q3 FY16 results with a consolidated sales of €263.3 mn ($310 mn) and net profit of €13.1 mn ($15.5 mn), resulting in a profit margin of 5%. The quarterly sales were up by 38.7% as compared to last year’s Q3 sales of €189.8 mn ($210 mn), while the net profit had almost doubled from last year’s Q3 net profit of €6.7 mn ($7.4 mn). The sales for first 9 months of FY16 totalled €765.7 mn ($860 mn) and reflected similar growth (38.4% increase) as compared to last year’s first 9 months’ sales at €553.2 mn ($620 mn).
The key driver for the strong financial results was the digital segment, which almost doubled in sales on y-o-y basis due to both organic and inorganic growth factors. The OOH Germany segment continued to grow at a steady pace while the OOH International segment witnessed a decline due to the macroeconomic situation in Turkey and related weakness of the Turkish Lira.