Havas Group reports organic growth of 8.7%; maintains strong commercial momentum
French holding company Vivendi has released its third-quarter 2022 results, reporting organic growth and strong momentum in global subsidiary Havas Media Group.
For the first nine months of 2022, Havas Group revenues were €1.922 million (A$2.994 million), up by 17.3% compared to the first nine months of 2021. Net revenues were €1,845 million (A$2.874 million), up by 17.7%, with organic growth, up 8.7%.
Yannick Bolloré, chairman of the Supervisory Board, and Arnaud de Puyfontaine, chairman of the Management Board and CEO, jointly commented: “For the first nine months of 2022, Vivendi reported revenue growth of 8.5% and organic revenue growth of 3.7%.
“Our Group’s overall performance in the third quarter was largely driven by Havas Group, which has maintained a strong commercial momentum thanks to the commitment of its people, its great operational agility, and the continued development of innovative solutions for its clients.”
By geographical region, the North American and European agencies continued to perform satisfactorily, supported by all three divisions, Creative, Health & You and Media. The performances in Asia-Pacific, Africa and Latin America remained solid.
In the third quarter of 2022, organic growth in net revenues slowed to 3.9% (11.5% for the first half of 2022) because of the very high 2021 comparative basis (17.8% for the third quarter of 2021).
Havas Group pursued its acquisition policy (majority stakes) in the United Kingdom, targeting areas of high value-added skills, with two noteworthy deals during this quarter, adding an agency specialising in data-driven creation; the acquisition extends Havas Media Group.
Vivendi Q3 2022 (Havas Media) [click to enlarge]
These two recent acquisitions, following those of Search Laboratory and Inviqa in the first half of 2022, further strengthen Havas Group’s position in the United Kingdom, its second-largest European market after France. With Front Networks (China), Frontier Australia (Australia), and Tinkle (Spain), a total of seven acquisitions have been finalised by Havas Group since the beginning of 2022.
At the end of September, Havas Group was continuing to generate solid financial results thanks to its dynamic and resilient client portfolio and its agility in responding to current macroeconomic and geopolitical challenges.
Vivendi currently trades at €8.12 (A$17.22) as of 21 October 2022 and has a market capitalisation of €8.95 billion (A$13.944 billion).
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