Havas reported that its revenue grew 7.8% in the first quarter to 506 million euros (about $569 million at today’s exchange rate) with organic growth, which strips out the impact of currency fluctuations, acquisitions and asset sales, was 3.4%.
Among other holding companies reporting Q1 earnings this week, IPG posted 6.7% organic growth, while Omnicom and Publicis reported 3.8% and 2.9% growth respectively.
In North America, Havas reported 1.2% organic growth, saying it anticipated a slowdown in the region after two years of what it termed “very strong growth.” The company said that “across the board,” creative agencies and healthcare communications firms in the region posted some growth while Havas Chicago was a standout with a double-digit performance.
Europe was up 4.1%, APAC and Africa up 4.3% and Latin America up 11.4%.
Net new business for the company in the quarter totaled 788 million euros ($886 million).
Havas CEO Yannick Bollore stated that he was “satisfied” with the organic growth achieved in the period. “All our regions delivered growth despite high baselines, especially in the UK and US.”
Bollore added that the level of new business was “particularly high in this early part of the year, and I would like to underscore the gathering pace of “Village” wins as testimony to the relevance of our integrated yet flexible business model.”
Bollore was referring to the company’s strategy of consolidating operations into a single hub in a growing number of locations to better facilitate serving the integrated marketing needs of clients.