Eletromidia’s Revenue Jumps 26.5% in 2024 Amid Expansion

Eletromidia, Brazil’s leading out-of-home (OOH) advertising company, achieved a 26.5% revenue growth in 2024, reaching R$1.19 billion ($209 million).

This milestone underscores the company’s focus on digital transformation and market expansion, solidifying its position as a dominant player in the industry.

The company installed 3,200 new advertising panels last year, increasing its total inventory to 69,000 units nationwide. Of these, 75% are digital, reflecting Eletromidia’s commitment to modernizing its portfolio and meeting growing advertiser demand.

This expansion builds on the 65,800 panels reported at the end of 2023. CEO Alexandre Guerrero highlighted that the increased capacity has strengthened Eletromidia’s competitiveness in a rapidly evolving market.

A major highlight of 2024 was Eletromidia securing a 20-year exclusive contract to operate urban furniture in Rio de Janeiro. The agreement covers bus shelters, informational totems (MUPIs), and digital clocks (REDs), with operations set to commence in 2027.

To fund this project and other initiatives, the company raised R$500 million ($88 million) through debenture issuance, increasing its gross debt to R$1.36 billion ($239 million) by year-end, up from R$995 million ($175 million) in 2023.

While revenue growth remained strong, adjusted net profit for the fourth quarter declined slightly by 1.5% year-over-year to R$92.05 million ($16 million). Quarterly revenue rose by 16.1% to R$391.7 million ($69 million), but operational expenses jumped by 62.5% to R$100.3 million ($18 million).

Key Factors Behind Eletromidia’s Growth

The company attributed this increase to its geographic expansion and investments in platforms targeting small and medium-sized businesses.

Throughout the year, Eletromidia expanded its footprint into key cities such as Recife, Salvador, Fortaleza, and Florianópolis while strengthening operations in established markets like Belo Horizonte.

Its partnership with bike-sharing company Tembici extended urban advertising reach to four additional capitals, including Curitiba and Porto Alegre.

In December 2024, Globo acquired a controlling stake in Eletromidia after purchasing an additional 47.09% share from H.I.G. Capital for approximately R$1.7 billion ($298 million).

Globo now holds a 74.01% stake in the company, marking a significant shift in ownership that aligns with Eletromidia’s long-term growth strategy. Eletromidia also announced plans to delist from Brazil’s stock exchange (B3) after receiving regulatory approval on March 26, 2025.

The company launched a tender offer at R$29.41 per share on March 27, with settlement scheduled for April 30. The company credited its success to investments in technology such as artificial intelligence and data-driven advertising solutions tailored for small businesses.

Despite rising operational costs tied to expansion efforts, Eletromidia maintained strong profitability. It is also positioning itself for sustainable growth in Brazil’s competitive OOH advertising market.

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