The Paris-headquarted Publicis Groupe has reported a 5.6 per cent decline in organic revenues YOY for the July to September quarter.
Market by market, organic revenue fell nine per cent in Europe, including 10.6 per cent in the UK and 13.8 per cent in France. APAC – where Australia plays – was down nine per cent and North America three per ceent, including a 2.4 per cent drop in the US.
In better news, net revenues for the quarter were €2.3 billion ($A3.8 billion) and only slightly down on 2019’s numbers.
Highlights of the report incuded:
• Growth year to date was up 2.7 per cent
• July to September growth was down 5.6 per cent, above market ad spend forecasts
• Solid US performance and Q3 organic growth at -2.4 per cent
• Top 200 clients net revenue year-to-date slightly up and continued new business momentum
• Decrease in net debt to €3.2 billion ($A5.2 billion) at the end of September and robust liquidity
Publicis supremo Arthur Sadoun (main photo) commented: “We believe that these relatively solid business trends should continue until year-end. However, with the current resurgence of the pandemic and the restrictions imposed, we have to be cautious about Q4, which might be impacted further and come below Q3.
“When it comes to our organisation, we have built three structural advantages with our global delivery centres, our country model, and Marcel, which enable us to adapt and continue to deliver strong financial performance.
“We are therefore confident in delivering our (€500m) cost reduction plan, and as a result an operating margin rate slightly ahead of current analyst consensus of 14.3 per cent for 2020,” Sadoun said.
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