Vivendi Q2 earnings reveal a significant 21.3% boost in revenue for Havas Media Group

French holding company Vivendi has released its H1 2022 results, reporting organic growth and strong momentum in global subsidiary Havas Media Group.

Havas Group reported a 21.3% boost in net revenue to €642 million ($A936 million), with organic growth of 11.5% compared to a strong 15.8% quarter the year before.

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For the first half of 2022, Havas Group’s revenues were €1,257 million, up by 19.9% compared to the first half of 2021. Net revenues were €1,206 million, up by 19.8% compared to the first half of 2021.

The growth is comprised of +11.5% in organic growth, +5.6% from currency effects and +2.7% from acquisitions.

As of June 30, 2022, EBITA was €112 million, an increase of 27.8%, thanks to solid organic growth and the ongoing benefits of the cost adjustment plan, despite a significant increase in personnel costs in the
first half of the year.

The strong revenue growth and half-year operating performance may be attributed to a number of client wins across Havas’ commercial divisions.

Havas Creative saw a number of new client wins, including Department for Education (Havas London), Fiji Tourism (Havas Australia), Lincoln Financial (Havas New York), Journées Particulières LVMH (Havas Paris), SBK (Havas Germany), Shaze Luxury Retail (Havas India), and Yili (Havas China).

Acquisitions made a significant contribution during the first half of 2022, with Havas Group accelerating its acquisition of majority interests in five targeted businesses aimed at bringing new skills on board and extending the group’s global presence: Tinkle (Spain and Portugal), Inviqa (United Kingdom and Germany), Search Laboratory (United Kingdom and United States), Frontier Australia (Australia) and Front Networks (China).

Each region reported strong organic growth for the first half of 2022:

  • Europe +11.7%
  • North America +7.6%
  • Asia Pacific +10.7%,
  • Latin America +47.7%

Last quarter, Havas net revenues were €564 million (A$841million), up by 18.0% compared to the first quarter of 2021 – indicating continued strong growth for the global agency.

In Q1, Europe and North America were the biggest contributors, with strong organic growth of 12.4% and 9.0%, respectively. Both Asia-Pacific (9.3%) and Latin America (22.3%) performed strongly in Q1, with the Asia Pacific region seeing even stronger growth in the quarter since.

Vivendi shares currently trade at 9.98 EUR with a market capitalisation of 10.88b EUR.


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