March 5, 2020 / 6:27 AM / a month ago

JCDecaux sees lower sales, operating margin due to coronavirus outbreak

March 5 (Reuters) - French outdoor advertising company JCDecaux warned on Thursday it expects first-quarter adjusted organic revenue to fall around 10% year-on-year, hurt by a “very material impact” from the coronavirus outbreak in China.

“All our landlords in China fully recognise the significant setback for the advertising business and have all already expressed their intention to grant us rent reductions,” the company said in a statement.

JCDecaux also sees its operating margin negatively affected in 2020, despite saving measures being implemented. (Reporting by Pawel Goraj)

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