Havas reported net revenue of 650 million euro for the third quarter and posted a 2.3% organic net revenue decline for the period. Organic revenue excludes the impact of currency fluctuations and M&A activity.  

For the first nine months of the year the organic revenue decline was 0.8% on reported net revenue of just under 2 billion euro. The ad group, which reported results as part of parent Vivendi’s earnings report issued this week, said the nine-month organic decline was largely due to the loss of an unnamed client in the U.S. 

“The Havas Media division continued to be dynamic, while Havas Creative and Havas Health & You divisions posted mixed commercial performances,” the company stated. 

Acquisitions added 3% to the nine-month net revenue total including contributions from Uncommon Creative Studio, Eprofessional, Shortcut and Ledger Bennett. 

By region for Q3, North America was down 9.9% on an organic basis. The good news: earlier this month the company won the North America consumer marketing account for Wyndham Hotels & Resort. Europe was the top performer with a gain of 0.9%. Asia Pacific was off 2.6% and Latin America gained 18.3%. The comparable nine-month figures: NA (-7.5%), Europe (2.8%), Asia Pacific (-0.6%) and LATAM (12.8%).  

The earnings report follows last week’s announcement that Vivendi has scheduled a shareholders’ meeting for December 9 in Paris to vote on the company’s plan to split into four separate entities. If approved, Havas would once again become a separate publicly traded company effective Dec. 16.