Havas Reports 2% Q3 Organic Growth

Havas reported revenues of 537 million euros (about $585 million at today’s exchange rate) in the third quarter -- up 3.8% from the prior year period.

For the first nine months of the year, the French holding company’s revenues are up 4.7% to 1.624 billion euros ($1.768 billion).  

Organic growth in the third quarter was 2% and 2.7% for the first nine months. 

By comparison, Interpublic Group last week reported organic growth of 4.3% for the third quarter and 4.8% for the first nine months, while Omnicom reported third-quarter organic growth of 3.2% and nine-month growth of 3.4%.

Publicis Groupe reported third-quarter and nine-month growth of 0.2% and 1.9% respectively.  

In North America, Havas reported an organic revenue decline of 1.2% for the third quarter. Organic revenue is flat for the first nine months. The company cited a “high baseline” for the lack of growth so far this year in the region, indicating that Q4 and 2017 would show improvement. 

The company’s strongest growth by far was for Europe, where it posted a 7.7% gain in the third quarter and 5% for the first nine months. Asia-Pacific and Africa combined showed a decline of 7% in the third quarter and a gain of 1.5% for the first nine months.

Latin America was down more than 6% for the quarter with a gain of 1.7% for the first nine months. 

Havas CEO Yannick Bollore stated that revenue and organic growth to date is “in line with our targets.” 

Net new business (based on billings) through September totaled 2.054 billion euros ($2.237 billion). Wins included GSK, Jaguar Land Rover and Domino’s.

 

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