Omnicom Q1 Profits Flat With Organic Revenue Growth of 2.9%
Omnicom reported roughly flat net income for the first quarter of 2013 at $205.1 million on a 2.8% revenue increase to $3,398.9 billion.
The company posted organic revenue growth in the period of 2.9% worldwide. Organic growth was higher in the U.S. at 4.1% while in countries with Euro currencies an organic revenue decline of 3.7% was recorded.
By comparison, Publicis, reporting earlier in the week said its organic revenue growth worldwide was 1.3%, but better in North America where growth was 4.4%. In Europe, Publicis was expecting a decline similar to what Omnicom reported but actually did worse, posting a 6.5% drop in the region. One difference—Publicis has more business overall in the troubled European zone.
Omnicom said it posted EBITDA of $397 million for the quarter, up 11.7%. First quarter operating profit margin slipped slightly to 10.9% from 11% in the first quarter of 2012.
By category Omnicom said auto and financial were weaker performing sectors, which both show revenue declines. Stronger performing sectors included consumer products and technology.