Havas Group posted improved results in the first quarter of 2021, reporting an overall organic net revenue decline of 0.8%, a significant improvement from the 7.5% drop reported for the fourth quarter of last year. (Organic revenue strips out the impact of M&A and currency fluctuations).
Reported net revenue was down 5.7% to €478 million ($578 million).
Improved performance was reported in all geographic regions with North America posting an organic decline of 1.6%.
“Despite an unfavorable base effect, the North American agencies reported satisfactory growth thanks to a buoyant market,” the company stated. The company gave a shoutout to its health division which it said generated “sustained growth.”
Europe grew 0.3% with the company noting “signs of recovery in both the Creative and Media businesses.”
Latin American was up 8.6%.
New business activity remained “dynamic”, which was credited in part to new offerings such as Havas CX (Customer Experience) launched in the second half of 2020. Account wins included Volkswagen for Customer Experience in the United Kingdom and Keurig Dr Pepper for Media in the United States.