Dentsu FY2023 Results Reveal Continued Strength In Customer Transformation & Tech
Dentsu FY2023 resulted revealed its net revenue increased 1.6 per cent year-on-year (yoy), while its organic revenue dropped 4.9 per cent
Its Q4 FY2023 net revenue lifted slightly by 0.7 per cent yoy, while organic revenues plummeted by 6.6 per cent.
The fourth quarter saw dentsu’s Japanese operations report continued strength in Customer Transformation & Technology (CT&T). Its Americas, EMEA and APAC operations, however, continued to see delays of larger transformational projects within CT&T partly as a result of the increased cost of capital globally. CT&T revenues reached 32 per cent of Group revenues in FY2023.
However, the holding group took a positive slant on things by citing a “robust” demand for digital experience and customer-focused transformation services. The planned expansion of the Group’s consulting and transformation practises will also help its clients identify opportunities for product and service innovation, develop monetisation and growth strategies, and fuel agility and organizational change, apparently.
It also said that its continued rollout of ‘One Dentsu’ would simplify the Group structure to allow for agile decision-making and strategic focus whilst driving operational excellence across all functions. This “Integrated Growth Solutions” focus at the convergence of marketing, technology and consulting will help deliver top-line growth for its clients whilst allowing Dentsu to realize sustainable growth for all stakeholders.
“2023 was a challenging year for the Group, with internal and external headwinds impacting both our organic revenues and profitability. The leadership team and I remain entirely focused on returning the Group to growth this year,” said Hiroshi Igarashi, president and global CEO of Dentsu Group Inc.
“As we look forward to 2024, we see some of those headwinds dissipating. We expect to see a return to spending from technology clients – particularly in the US market. However, we will balance this with cycling out of account losses in the first half of 2024, making our 2024 performance second-half weighted”.
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