Audi Sold 981,681 Automobiles Worldwide In 6 Months; Revenue Totals €29.2B

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Audi Sold 981,681 Automobiles Worldwide In 6 Months; Revenue Totals €29.2B
  • Record deliveries: the best first half-year in Audi’s history with 981,681 vehicles delivered to customers
  • Operating profit €3.1 billion, operating return on sales 10.7 percent, profit before tax amounts to €3.9 billion
  • Strong net cash flow:
  • €5.5 billion CFO Rittersberger: “We have finished the first half-year with success. Nevertheless, the situation continues to be challenging.“

A healthy result after six months: the Audi Group achieved a successful half-year performance in spite of a critical situation with semi-conductor supplies.

From January to June the company delivered 981,681 automobiles to customers worldwide, thus concluding the best first half in the history of Audi.

The positive trend in volume is also reflected in the financial performance: sales revenue amounted to €29.2 billion. An operating profit of €3.1 billion testifies to high customer demand, a strong sales performance, and continued cost discipline. Moreover, in the first half-year, Audi benefited from positive valuation effects in securing raw materials.

The operating return on sales, at 10.7 percent, therefore lies within the strategic target range of 9 to 11 percent. Net cash flow amounting to €5.5 billion reflects the financial strength of the Audi Group.

“The positive trend at the start of the year continued in the months to June: we have brought the first half-year to a successful conclusion. Our financial performance shows that we have handled the challenges of the global shortage of semiconductors well, thanks to comprehensive counter-measures, and have been able to take advantage of the opportunities of the positive market development,” says Jürgen Rittersberger, Board Member for Finance and Legal Affairs at AUDI AG.

“The high numbers of vehicles delivered, even exceeding levels before the crisis, and good profitability are a clear confirmation of the capabilities of our company and the attractiveness of our product portfolio.”

Record level of global vehicle deliveries

Customers‘ continuing high level of interest in Audi models led to record deliveries in the first half-year: from January to June, the company delivered 981,681 Audi-brand automobiles to customers worldwide – a rise of 38.8 percent compared to the previous year (2020: 707,225).

A total of 518,853 deliveries (2020: 354,232) also made the period from April to June the strongest quarter for sales in the company history. On the Chinese market,Audi reached its best-ever result in the first half with 418,749 deliveries (+38.4 percent). In the USA too, Audi achieved its best half-year, with 121,835 vehicles delivered (+59.9 percent). Momentum was also strong in Europe, with an increase of 32.7 percent (351,588 vehicles).

Audi Sold 981,681 Automobiles Worldwide In 6 Months; Revenue Totals €29.2B-Brand Spur Nigeria
Audi Sold 981,681 Automobiles Worldwide In 6 Months; Revenue Totals €29.2B-Brand Spur Nigeria

Especially with all-electric and plug-in hybrid automobiles, the premium manufacturer recorded a significant increase, with some 80,000 deliveries, more than twice as many as in the same period of the previous year (2020: approx. 36,000). Furthermore, SUV models and top-range vehicles experienced high growth rates.

“Increased demand from our customers and the successful sales performance worldwide were strong drivers of growth in the first half-year. In this way we are continuing our successful development to become a leading provider of sustainable premium mobility,” says Hildegard Wortmann, Board Member for Sales and Marketing at AUDI AG.

Electrification is moving ahead at the Four Rings: Audi is gradually phasing out production of combustion-engine vehicles up to 2033, and the company intends to be carbon-neutral by 2050 at the latest.

The broadly based electric offensive will be consistently pushed forwards at the same time: with the new e-tron GT quattro1 and RS e-tron GT2 models, and the first all-electric car in the compact segment, Q4 e-tron and Q4 Sportback e-tron, the electric portfolio has expanded by four additional models.

This means that in the current year already, Audi is launching more electric than combustion-engine vehicles onto the market. By 2025 the company plans to have over 20 all-electric models in its range.

Revenue higher than the pre-crisis level

In the first six months, the Audi Group increased sales revenue by 42.7 percent to €29,212 million (2020: 20,476 million). Compared to the previous year, marked by global lockdowns, turnover in the first half-year rose in all vehicle segments, accompanied by a favorable product and regional mix as well as good achievement of price goals. High demand for SUVs had a positive effect on revenue: Audi’s Q models were well received by customers in many markets, especially in the USA and in China. Revenue for the Lamborghini brand, at €961 million (2020: 766 million), was also higher than in the previous year.

Operating return on sales within the strategic target range

For the first half-year, the Audi Group achieved operating profits amounting to€3,113 million (2020: -750 million). The operating return on sales in the first half rose to 10.7 (2020: -3.7) percent and therefore lies within the strategic target range of 9 to 11 percent. In addition to the strong performance in the core business and continuing cost discipline, the high level of profits and return on sales was reinforced by positive valuation effects especially for securing raw materials amounting to €0.9 billion compared to the previous year.

For the first half of 2021, the Audi Group reports pre-tax profits of €3,875 million (2020: 86 million). This includes a high level of profit from financial items in the first six months at €762 million (2020: 836 million), reflecting particular healthy business in China.

Net cash flow stood at €5,512 million (2020: 1,953 million), thus demonstrating that the Audi Group is financially robust and well-positioned for the future.

In addition to high profits and continued investment discipline, the Four Rings benefited from seasonal factors and effects carried over from the last quarter of 2020 with its high volume.

Outlook for the full year: cautiously optimistic as before

Looking at the whole of 2021, the company expects growing demand in global car markets. At the same time, there are signs that the months ahead will also be marked by a critical supply situation for semiconductors.

Audi continues to work intensely on counter-measures, but in view of the continuing shortage, it is not expected to be possible to compensate in full in the course of the year for lost production. Furthermore, the Audi Group does not expect further substantial positive valuation effects from securing raw materials in the second half of the year.

Nevertheless, the Four Rings take a cautiously optimistic view of the remaining months of the year: accordingly, the Audi Group expects vehicle deliveries of the Audi brand and sales revenue to be significantly higher than in the previous year.

An operating return on sales in the planned range of between 7 and 9 percent is expected. Based on the positive trend of the first half-year and considering the higher seasonal expenditure in the second half, the Audi Group is adjusting its forecast for net cash flow to a figure between €4.5 and €5.5 billion.

Family Drama, Lies, Crime And More On This Week’s Episode Of Isono

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Family Drama, Lies, Crime And More On This Week’s Episode Of Isono

Last week on Isono, which airs on BET Africa (DStv Channel 129, GOtv Channel 21), the drama is at an all-time high and it’s not in Pastor Abiola’s family, a role played by Nigerian actor, Fabian Adeoye. 

“Mother Mary” is at it again, following a successful re-launch of Casanova and Esther’s biological father arriving in Vosloorus, Gabriel reveals to Esther who her biological father is and sets the mystery to rest. The conniving Mary sees this as another opportunity to get closer to Esther, so she twists the story yet again in her favour. Now that everyone knows who Kgosi aka Elliot King is, he does not waste any time assuming the role of a father in Esther’s life as he tracks down Rubin in hopes to make him pay for everything he did. 

Sarah continues to help Rubin hideaway, only to find out that he plans to expose Mary’s secrets. But, Sarah won’t let that happen as she wants to be the one to bring Mary down so she decides to take matters into her own hands. 

After resorting to the life of crime to impress Lesedi, Zakwe can’t seem to keep out of trouble and Maradona has him exactly where he wants him. He feels pressured to keep robbing people’s homes to keep Maradona from hurting the people he cares for. However, Maradona pushes too far when he suggests robbing Noluthando’s tavern. They end up stealing money raised for charity and Zakwe’s conscience starts to kick in. 

Phindile is upset after seeing Millicent’s post on her social media and is embarrassed that so many people saw it. She tells Millicent to take it down. Millicent thinks that Phindi is ungrateful and decides to sell one of the donated dresses.  She starts feeling bad after hearing why Phindile wanted that image down and buys a new dress for her. But, all her efforts could have been for nothing after Sphiwe decides to dump Phindi and take Neo to the Matric dance instead. 

Phindi is crushed and feels worthless. Umpas finds her hiding in Jumaima’s room and takes the opportunity to tell her about his feelings. They share the first dance and gaze into each other’s eyes. Seems like things worked out for the best. 

BET Africa (DStv Channel 129, GOtv Channel 21) is home to African content and culture, where we celebrate black excellence, talent and authentic storytelling. 

To catch more on the story of LOVE, PAIN AND BETRAYAL and the best in storytelling, be sure to tune in to BET Africa’s Daily Drama, ISONO, Monday to Thursday on BET Africa (DStv Channel 129, GOtv Channel 21) at 20:30 WAT and repeats at 17:00 WAT where dark secrets lead to deadly sin. 

ASR Africa Commits N1bn Tertiary Education Grant To University Of Benin

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ASR Africa Commits N1bn Tertiary Education Grant To University Of Benin

The Abdul Samad Rabiu Africa Initiative (ASR Africa) – the brainchild of Abdul Samad Rabiu, Founder and Executive Chairman of BUA Group has awarded an N1billion infrastructure grant to the University of Benin (UNIBEN) as part of its 2021 Tertiary Education Grants Scheme.

This was revealed at the grant presentation by the Management of ASR Africa to the Vice-Chancellor and council members of the University in Benin.

With this ASR Africa grant award, the University of Benin becomes the fifth Nigerian University to receive a grant award of 1billion Naira. Previous 2021 grant awardees include the University of Maiduguri; University of Ilorin; the University of Ibadan and Ahmadu Bello University, Zaria.

Speaking during the Presentation, Ubon Udoh, Managing Director of ASR Africa, commended the university administration for their commitment to ensuring the highest standards in tertiary education at the University of Benin. He further added that University of Benin was selected for the ASR Africa Tertiary Education Grant using a variety of metrics including ranking, student population, gender inclusivity, amongst other criteria.

According to Udoh, “We are impressed with the level of commitment by the Management of University of Benin in identifying viable projects for implementation under this grant. Over the next few weeks, we will review these identified projects within the ASR Africa project assessment and mutual accountability frameworks and we look forward to commencing project implementation as quickly as possible”.

ASR Africa Commits N1bn Tertiary Education Grant To University Of Benin-Brand Spur Nigeria
ASR Africa Commits N1bn Tertiary Education Grant To University Of Benin-Brand Spur Nigeria

In her reactions, the Vice-Chancellor, University of Benin, Prof. Lilian Salami thanked ASR Africa and its chairman, Abdul Samad Rabiu, for the grant and noted that it will enable the institution meet pressing development needs which will positively impact the quality of education being delivery at the university. She further added that the school was looking to develop a University of Benin/ASR Africa ICT Centre with the grant. “The projects we have selected will have impact on our student not just for now but even for posterity”, Prof. Salami added.

P&G Nigeria Promotes Diversity And Inclusion In The Supply Chain

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P&G Nigeria Promotes Diversity And Inclusion In The Supply Chain

As part of Procter & Gamble’s (P&G) diversity and inclusion efforts, the leading consumer goods company in partnership with WEConnect International has expanded its Supplier Diversity initiative with the third edition of the Women Entrepreneur Development Program (WEDP).

The program seeks to include more women-owned businesses in the supply chain by training female entrepreneurs, providing them with the skillsets necessary for competitive advantage,

The two-month intensive program was led by P&G experts and external partners, including Oxford Brookes University. Over 42 female entrepreneurs were trained on how to further develop their capabilities, building skillsets to further grow their businesses. The seven-module curriculum covered development topics such as business strategy, strategic collaborations, leadership skills, procurement processes, social capital accumulation, pitching and digital marketing.

Speaking on the impact of the program, Mrs. Mokutima Ajileye, Country Manager for P&G Nigeria said “WEDP is aimed at achieving equal representation of men and women in an inclusive environment, where they can deliver their full capabilities. Nigeria is a country of huge potential, yet women have been systematically excluded and disadvantaged.”

“Through this program, we aim to economically empower women with the right tools and knowledge needed to grow their businesses and offer opportunities for them to provide solutions to multinationals across the country. As an organization, P&G is committed to inclusive growth and removing barriers to girls’ education and women’s economic empowerment, and we will not relent in our efforts to support Nigerian women to thrive,” added Mrs. Ajileye.

WEConnect International has collaborated closely with Procter & Gamble on the P&G Women’s Entrepreneur Development Program (WEDP) in Nigeria and globally since 2017. The organizations have worked together to develop over 500 women-owned businesses in 11 countries since the inception of the program.

“The 2021 Nigerian program had an impressive turnout with 42 women-owned businesses excited to learn from P&G experts. Feedback from the participants in 11 states in Nigeria has been overwhelmingly positive.” said Mrs. Patricia Langan, WEConnect International Regional Director for Africa and Middle East.

Speaking on the project impact, Aisha-Claire Alkali, CEO, The Charcoal Grill restaurant and coffee lounge, a WEDP participant said “Being selected to attend the WEDP programs sincerely was a privilege. It was one program that I looked forward to every Monday. The speakers were on point and I learned a lot that will surely impact my business.

It was an amazing experience with great illustrations, given by well experienced speakers. It is a privilege to know that women empowerment is a big deal to P&G and I’m proud that I benefited from it and it’s well appreciated.”

The WEDP supports gender equality and supplier diversity, a key pillar of P&G’s Citizenship initiatives. The program reiterates P&G’s commitment to developing an intentionally diverse supply chain by working directly with women-owned businesses. By empowering women-owned businesses, the program, diversifies P&G’s supply chain promoting a real and lasting impact in the communities within which P&G operate.

“To achieve our goal of creating transformational impact in our business and community, it is imperative to empower women and enable them contribute their quota to the nation’s economy.

“This is a part of our #weseeequal commitment to increase the participation of women-owned businesses in global value chains and double our spend on women-owned businesses over the next three years.” says Temitope Iluyemi, P&G Senior Director for Africa, Global Government Relations & Public Policy.

The WEDP program is the most recent in a series of P&G partnerships with relevant international and local organizations, government ministries, departments, and agencies to empower women in Nigeria and across Africa.

Students Against Hunger Contest: Liberators Take Hunger Story To Nigerians

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Students Against Hunger Contest: Liberators Take Hunger Story To Nigerians

…Eye N100m Cash prize

Contestants in the ongoing online reality show, Students Against Hunger (SAH) have begun taking their hunger story to Nigerians in a bid to woo voters, even as they eye the ultimate cash prize of N100 million.

The over 2000 contestants who are addressed as Liberators in the online-based educating and entertainment shows are expected to tell their hunger story in a compelling manner that will enable them get the required votes to see them through to the next stage of the reality show.

The hunger story is the first of a series of activities lined up for liberators in the reality show organized by Richlife Africa Projects Ltd, a social enterprise organization.

The show which is strictly online commenced July 6, 2021.

According to the organizers, the Students Against Hunger (SAH) is a project designed for students in the tertiary institutions in Nigeria, immediate past and current serving members of the National Youth Service Corp (NYSC).

Chief Executive Officer of Richlife Africa Project, Mr. Modestus Bernard, said in a statement that the SAH project is aimed at eradicating hunger and poverty from the land by empowering Nigerians- starting with people within the tertiary institution.

According to him, “the idea behind the project is to empower the Nigerian youths by creating millionaires out of them, feeding the hungry in the society and wiping away hunger and poverty from the land, through a social enterprise project like the SAH”.

Modestus said participation in the contest gives hope to hungry Nigerians who do not know where their next meal will come from.

“Let’s fight hunger and poverty together,” he noted.

On how winners will emerge, he said: “A series of education-based activities have been lined up for liberators to face and they need votes to scale through the stages starting with the hunger story. Nigerians can vote for their favorite liberators via the company’s website: HERE and get them to achieve their dreams of becoming millionaires”.

Continuing he said: “Your vote can make a difference in the life of the students and put smiles on their faces. According to Bono, if we must eradicate hunger, every one has to be involved”.

He said the show will run until the goal of 100,000,000 votes are achieved.

“The Students Against Hunger contest is divided into two stages, the preliminary stage expected to pull 10,000,000 votes and the GAAH battle stage aimed at gathering 90,000,000 votes”.

N2.1b is earmarked to be shared among 301 winners while 200 participating voters will be rewarded with a car each among other consolidatory prizes including Longrich products.

The star winner with the highest number of votes will take home the grand prize of N100 million, according to the organizers.

Modestus however called on other liberators who are yet to register to do so via the company’s website.

Shoprite Re-opens Jabulani Store In Record Time

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Shoprite Re-opens Jabulani Store In Record Time

Shoprite Jabulani in Soweto today re-opened its doors after it closed temporarily following the recent unrest in KwaZulu-Natal and Gauteng. 

Two Usave eKasi trucks were deployed to Jabulani to enable community members to purchase basic food items and other necessities while the Shoprite Group worked around the clock to restock and rebuild affected stores, including Shoprite Jabulani. In direct response to the COVID-19 pandemic, and true to the Shoprite Group’s innovative spirit, Usave pioneered the mobile truck shops early in 2020, during the first hard lockdown, to reach underserved communities with essential groceries and ensure food security.

It is thanks to the Group’s employees who went the extra mile and helped with clean-up operations, despite trying conditions, that its Jabulani supermarket could re-open in record time.

On the left, Shoprite Jabulani following the recent looting and unrest in Gauteng and KwaZulu-Natal, and when the store re-opened for trade again earlier today (right).
In celebration of the store’s re-opening, Shoprite made a donation to community organisation Shout SA, who assisted with cleaning up around the Jabulani Mall.

The Shoprite Group has distributed thousands of food hampers following the unrest in KwaZulu-Natal and Gauteng, which has left many people destitute.

It has also made an initial R1-million donation to its Act For Change Fund, for use by vetted organizations involved in relief efforts to help communities rebuild.

People wishing to help affected communities can donate to the Act For Change Fund at the till point in any Shoprite, Checkers or Usave nationally, or online via the Computicket website.

Sanofi Sales Grew Double-Digit To €8.7 Billion

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Sanofi Sales Grew Double-Digit To €8.7 Billion

Sanofi Q2 2021 sales grew double-digit to €8.7 billion (up 12.4% at CER) mainly driven by Dupixent® and Vaccines as indicated in its financial result ended June 30, 2021.

  • Specialty Care sales increased 22.0%, due to strong Dupixent® (+56.6%) and new oncology
  • Vaccines up 16.2%, driven by meningitis and boosters franchise recovery; accelerating the mRNA pipeline
  • General Medicines sales increased 4.2% supported by core assets (up 11.8%) including COVID related demand for Lovenox®
  • CHC increased 11.9% due to the growth of the Digestive Wellness category largely offsetting low demand for cough and cold brands

Q2 2021 business EPS growth of 16.4% at CER driven by sales performance and efficiencies

  • Business EPS was €1.38, up 7.8% on a reported basis
  • In H1 2021, cost savings of €450 million were realized of which the vast majority was reinvested
  • IFRS EPS was €0.97 (down 84.0%), reflecting capital gain from sales of Regeneron shares in Q2 2020

Progress on implementation of the Corporate Social Responsibility strategy

  • Increased representation of women in senior leadership positions to 40% (36% in Q2 2019) with an ambition of 50% by 2025
  • A €3 million Planet Mobilization fund was launched to support employee projects to improve our environmental impact

Key milestone and regulatory achievements on R&D transformation

  • Global Phase 3 study of adjuvanted recombinant-protein COVID-19 vaccine candidate (collaboration with GSK) started
  • All pivotal studies of nirsevimab read out successfully, global submissions to start in H1 2022, one year earlier than expected
  • Formation of Vaccines mRNA center-of-excellence; flu vaccine candidate entered phase 1
  • Additional regulatory approvals for Libtayo® and Sarclisa® in Europe
  • Three acquisitions completed: Tidal Therapeutics, Kiadis and Kymab

Full-year 2021 business EPS guidance revised upward

  • Sanofi now expects 2021 business EPS to grow around 12% at CER(2), barring unforeseen major adverse events. Applying average July 2021 exchange rates, the currency impact on 2021 business EPS is estimated to be between -4% to -5%

Sanofi Chief Executive Officer, Paul Hudson, commented:

“The Sanofi business momentum has accelerated in the second quarter, delivering strong financial results driven by our core growth drivers Dupixent and Vaccines. We continue to deliver on our Play to Win strategy, and our second-quarter performance gives us confidence in Sanofi’s growth trajectory for this year.

Consequently, we are raising our full-year EPS guidance to around 12%. Significant progress was made across several clinical and regulatory milestones and in June, we formed the Sanofi mRNA vaccines Center of Excellence with the aim to lead the field in this next chapter of vaccine innovation.

We are well on our way to making Sanofi more representative of communities we serve, executing on our Diversity and Inclusion strategy and creating a work environment where our people can bring their best selves to transform the practice of medicine.”

Hushpuppi Indicts DCP Abba Kyari, Makes UTurn On Fraud Allegation

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Hushpuppi Indicts DCP Abba Kyari, Makes UTurn On Fraud Allegation

Ramon Abass popularly known as Hushpuppi has finally made a U-turn on the not guilty plea he previously made and would now be pleading guilty to the multi-million dollar fraud filled by the United States of America government.

This new turn of events seems to have ushered in new development as events, collaborators and beneficiaries would be unveiled like it is a product launch that is happening.

Deputy commissioner of police, Abba Kyari has been acknowledged by the FBI as a beneficiary of the benevolent nature of the socially acclaimed fraudster and internet celebrity, Hushpuppi.

DCP Abba Kyari The Super Cop Reacts

In a response by Abba Kyari on his Facebook page, he clearly stated that in what seems like a story of a native cloth picker that “Abbas who we later came to know as Hushpuppi called our office about 2years ago that somebody in Nigeria Seriously threatened to kill his Family here in Nigeria and he sent the person’s Phone number and pleaded we take action before the Person attacks his family.

Hushpuppi Indicates DCP Abba Kyari, Makes UTurn On Fraud Allegation-Brand Spur Nigeria
Hushpuppi Indicates DCP Abba Kyari, Makes UTurn On Fraud Allegation-Brand Spur Nigeria

We traced and arrested the suspect and after investigations, we discovered there wasn’t an actual threat to anyone’s life And they are long-time friends who have money issues between them hence we released the Suspect on bail to go and he was not taken to any jail.

He further stated that “Nobody demanded any money from Hushpuppi and nobody collected any money from him. We responded to a distress call he made on a threat to his family and released the Suspect when we discovered there was no life threat from the Suspect. This is the true story. Vincent is alive, he can be contacted.

For those who are celebrating that this is an indictment on us and mentioning some fictitious Big Money, They will be disappointed once again as our hands are clean and our record of Service for 2 decades is open for everybody to See. They will continue seeing us serving our fatherland and we will Continue responding to ALL distress Calls from ALL Nigerians provided they are life-threatening.”

Well according to reports there are concrete evidence against him enjoying the benevolent nature of Nigeria’s foremost international fraudster as an officer of the law. This has sparked the question of how corrupt is the law enforcement system in Nigeria? How would the innocent remain innocent and how would the guilty stay guilty.

A powerful police officer on the payroll of an international fraudster can call this corruption of the highest? If there is such a high-level collaborator of fraud then what would the underlying do?

IGP Usman Baba Issues Immediate Review Of Alleged Indictment of DCP Abba Kyari

The Nigerian police in a swift response but not swift proactive mode, has issued a statement, the inspector general of police, Usman Alkali Baba has ordered an internal review of the allegations set forward by the FBI and the case would be communicated to the members of the public accordingly.

Why we at Brand Spur Nigeria are wondering what would happen next, would the Nigerian police let go of the poisonous arm if found to be harmful or would they still stick it? Will the picker of natives wears be picked or would be protected at all cost?.

Well, the eagle ears of Brand Spur Nigeria and the public are watching.

JCDecaux Posts 83.8% Billboard Revenue Growth in H1 2021 Results

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JCDecaux Posts 83.8% Billboard Revenue Growth in H1 2021 Results

JCDecaux SA, the number one outdoor advertising company worldwide, announced its 2021 half-year financial results in which the group revenue reached €1,082.3 million, a +0.6% YoY revenue growth thanks to a strong street furniture revenue growth across all geographies, notably in Europe.

In the second quarter, adjusted revenue increased by 78.5% to €628.1 million. On an organic basis, adjusted revenue increased by 80.2% compared to Q2 2020. Adjusted advertising revenue, excluding revenue related to sale, rental and maintenance of street furniture and advertising displays, increased by 86.3% on an organic basis in Q2 2021.

Despite JCDecaux limited revenue growth of €6.9m in H1 2021, its adjusted operating margin has greatly improved (by €93.2m), turning positive at €31.4 million vs -€61.8 million in H1 2020 thanks to a revenue mix geared toward the higher-margin Street Furniture business segment and to their ongoing cost reduction actions, including rent reliefs, staff cost optimisation and overheads management.

JCDecaux
OWORO EKO Arch -Nigeria | www.brandspurng.com

The company’s tight control over working capital requirements and selective capex reduction as well as the decision not to distribute dividends for the second year in a row allowed us to contain free-cash-flow at -€63.2m in H1 2021 and net debt at around €1.2bn at the end of the period.

First-half adjusted revenue for Billboard increased by 5.7% to €182.4 million, 10.9% on an organic basis. All regions have been positive, Asia-Pacific and North America experienced the strongest rebounds in line with the pick-up of vehicular audiences.

In the second quarter, adjusted revenue increased by 83.8% to €103.4 million. On an organic basis, adjusted revenue increased by 86.4% compared to the same period last year with Asia-Pacific, UK and North America being the strongest rebounds.

While the first quarter of 2021 was highly impacted by strict Covid-19 restrictions around the world, the outdoor advertising company’s Street Furniture and Billboard activities have significantly rebounded in the second quarter along with the urban audience recovery as stay-at-home requirements were progressively lifted.

Digital Out Of Home (DOOH) represents now 22.8% of total group revenue with very positive momentum for our programmatic advertising trading. The VIOOH platform which is the most connected DOOH supply-side platform is now active in 13 countries following its launch in Australia and in France.

Street Furniture: In the first half of 2021, the adjusted operating margin increased by €70.2 million to €49.6 million. As a percentage of revenue, the adjusted operating margin was 8.8%, +1,310bp above prior year.

Transport: In the first half of 2021, the adjusted operating margin improved by €1.3 million while the revenue declined by €84.6 million thanks to our saving actions implemented since the beginning of the pandemic. As a percentage of revenue, the adjusted operating margin was limited to -3.0%, -30bp below prior year.

Billboard: In the first half of 2021, the adjusted operating margin improved by €21.8 million. As a percentage of revenue, the adjusted operating margin was -4.5%, +1,290bp above prior year.

Commenting on the 2021 first half-year results, Jean-François Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said:

As far as Q3 2021 is concerned, although the global advertising market remains highly volatile with low visibility and with some depressed audience levels which might take time to recover such as international air traffic and mass transit, we now expect an adjusted organic revenue growth above +20% yoy based on positive trends in our current trading with some activities close to pre-covid levels, provided that mobility restrictions do not rise significantly.

I would like to sincerely thank our teams across the world for their strong commitment, resilience, their agility and their innovative spirit.

As the most digitised global OOH company with our new data-led audience targeting and programmatic solutions, our well-diversified portfolio, our ability to win new contracts, the strength of our balance sheet and the high quality of our teams across the world, we believe we are well-positioned to benefit from the rebound.

We are more than ever confident in the power of our media in an advertising landscape increasingly fragmented and more and more digital and in the role, it will play to support the economic recovery as well as to drive positive changes.”

Flour Mills of Nigeria Reports ₦5.4B Profit, Up 10% On Revenue Of ₦233.7B

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Flour Mills of Nigeria Reports ₦5.4B Profit, Up 10% On Revenue Of ₦233.7B

Flour Mills of Nigeria Plc (Flour Mills or FMN), Nigeria’s leading integrated foods and agro-allied Group, owners of the iconic food brand — ‘Golden Penny,’ today announced its Q1 results for the year 2021/22 showing consistent strong performance with strong revenue growth and Profit After Tax increasing by 10% (YoY) to N5.4 billion.

Key Highlights:

  • Flour Mills of Nigeria’s revenue was N233.7 billion, compared to N154.6 billion in Q1 2020/21 (51% – YoY growth) – performance was impressive across all business segments underpinned by sustained demand in Agro-allied, particularly in our Edible Oils and Fertilizer businesses, and continued improvements in the Food segment.
  • The Group’s Profit Before Tax was N7.3 billion, compared to N6.5 billion in Q1 2020/21 (12% – YoY growth). Volume and revenue continued to appreciate despite increases in international food prices and input costs during the review period.
  • Flour Mills of Nigeria’s Profit After Tax was N5.4 billion, compared to N5.0 billion in Q1 2020/21 (10% – YoY growth).
  • Strong B2C products continue to drive value across the value chains inspired by continuous product innovation to meet customer needs with a focus on local content.

Operational Review

Despite the current challenges in the operational climate, Flour Mills of Nigeria maintained an impressive performance with robust revenue growth and profit improvements across all segments.

Flour Mills of Nigeria PLC Finishes Strong With A Record 184% Growth In After-Tax Profit

Our food business continues to develop as a result of strategic decisions and investments in route to consumer redistribution, including further investments in vans, automation of redistribution performance tracking, and improved dealer inventory management.

In the Agro-allied division, the oils & fats value chain is seeing strong revenue growth driven by export sales, while volumes in the fertilizer segment have increased as a result of the extension of blending plants in Bauchi State and a significant increase in the number of dealers onboarded during the quarter.

Commenting on the result, Omoboyede Olusanya, the Group Managing Director, said:

“The first-quarter result shows a strong start to the year and a promising indication of the business’s future as we pursue our strategy of operational efficiency and long-term growth. I am particularly pleased that we achieved an amazing topline growth and remained profitable, with Profit Before Tax increasing by 12% and Profit After Tax increasing by 10%.

I envision even more organic growth across the group, fueled by our expanding ethos of putting consumers at the heart of our business. As we continue to execute our long-term strategy of excellence-driven growth, I am optimistic that we will meet our year-end growth targets while improving operating efficiency, lowering finance costs, and ultimately increasing shareholder wealth.”

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