IPG reports 2020 financial results, down 4.8%

Interpublic Group (IPG) has released its financial results for FY2020 and final quarter 2020.

In the fourth quarter, net revenue was negative 6.1%, coming in at US$2.28 billion while organic change was negative 5.4%.

Full year 2020 net revenue was US$8.06 billion, compared to US$8.63 billion in 2019, representing an organic net revenue decrease was 4.8%. Full year 2020 total revenue, which includes billable expenses, was US$9.06 billion, compared to US$10.22 billion in 2019.

The Asia Pacific region was down 13.6% in organic net revenue to US$710.5 million for FY 2020, while for fourth quarter 2020 it was down 17.4% on the previous corresponding period to US$223.1 million.

IPG CEO Philippe Krakowsky, said of the results: “Our focus remains on mitigating the impact of the health crisis on our clients, our business, and most important, our people.”

He added: “We continued to be disciplined with respect to expenses, proactive and strategic in our approach to structural cost actions, while simultaneously investing in our business during the year to accelerate areas of strongest opportunity and growth. That investment continues to result in differentiated capabilities and forward-looking offerings, which are in demand and driving success in the marketplace.

“Heading into 2021, we are confident of the strength and competitiveness of our offerings, the talent within our group, and the value that our services can deliver by ensuring that clients’ businesses and brands thrive in the digital economy.”

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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