IPG reports 2.8% revenue growth in Q1 2021
The Interpublic Group of Companies (IPG Media Brands) has reported a 2.8% increase in revenue globally for the first quarter of 2021, compared to the corresponding period 12 months prior. Revenue hit USD$2.03 billion. Total revenue, which includes billable expenses, was $2.26 billion in the first quarter of 2021, compared to $2.36 billion in 2020.
Net income as reported was UDSD$91.7 million.
The Asia Pacific region accounted for USD$210.9 million of the revenue, while organic net revenue was USD$169.1 million, which represents an increase of 3.4% on the 12 months prior.
The financial presentation said the group was “well-positioned to participate in the global economic recovery” and that “effective expense management is an ongoing priority”.
IPG CEO Philippe Krakowsky said: “Our strong start to the year reflects the quality of our talent, across the organisation, and underscores the successful evolution of our offerings at a time of accelerating, transformational change.
“Building on a strong start to the year, and predicated on the assumption that there will continue to be a reasonably steady course of global economic recovery, we believe that we can deliver organic growth for the full year in the range of 5% to 6%. With that level of performance, we would expect to achieve 2021 adjusted EBITA margin of approximately 15.5%. As such, we look forward to creating further value and opportunity for all of our stakeholders.”
He added that the group would remain focused on “integrated and collaborative teams”.
Full year 2020 net revenue was US$8.06 billion, compared to US$8.63 billion in 2019.
IPG’s global brands include Acxiom, Craft, FutureBrand, Initiative, MAGNA, McCann, Mediahub, Momentum, MullenLowe Group, Octagon, R/GA, UM and Weber Shandwick.
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Olivia Kruimel is the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.
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