Havas is the latest holding company to report its full-year results with the Paris-based agency group reporting revenues grew 2.6 per cent in 2019 to approximately $US2.6 billion ($A3.8 million), pre-tax earnings were $US244 million ($363 million) up 4.5 per cent (inclusive of restructuring charges).
Parent company Vivendi reported organic revenue, which strips out the impact of foreign exchange rates and mergers and acquisitions activity was down one per cent for the year.
Last Friday, Dentsu Aegis Network announced a $A1.1 billion (1.9 per cent) loss in its full-year results, while Publicis posted a 2.3 per cent decline in organic growth and net revenue. Omnicom (3.3 per cent) and Interpublic (2.8 per cent) reported gains while WPP is due to unveil its results later this month.
Vivendi said on its earnings call that it was “satisfied” with Havas’ performance, particularly compared with its “European peers”.
The report noted: “Strong cost control” and “very good cash generation” mean “we are confident for the future at Havas.”
Havas reported the strongest performing parts of the group were its healthcare communications business and creative agencies including BETC, Rosapark and Edge.
The annual report noted that “the general network moved purposefully ahead with its transformation in order to adapt itself to evolving client needs”.
It follows on from Havas’ acquisition late last year of famed Parisian agency Buzzman, Langoor and Shobiz in India, and the UK’s Gate One.
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