Havas lifted revenue 1.4% in the June quarter, but in organic growth terms the result was -2.3%, with the France-based global advertising group keeping a tight grip on costs.
The creative and media divisions posted “strong” performances, according to Vivendi, the parent company of Havas.
The result compares to other global advertising groups: IPG posted organic revenue growth of 1.7% for the June quarter, Publicis was up 5.6% and Omnicom had a better than expected 5.2%.
Over the first half of 2024, Havas’s revenue increased 3.6% to €1,366 million but only 0.3% in organic growth for the six months.
Net revenue was up 3.4% to €1,308 million but “stable” on an organic basis.
The impact of acquisitions was +3.5% and included contributions from Uncommon Creative Studio, Eprofessional, Shortcut and Ledger Bennett.
Net revenue fell 6.4% in North America but increased in other regions: +3.8% in Europe, +0.5% in Asia-Pacific, and +8.8% in Latin America.
First half EBITA (earnings before interest, taxes, depreciation and amortisation) was up 6% to €125 million due to a continued “cost base optimisation”.
Havas has a new strategic plan, Converged, including a group wide operating system with creativity at its core.
The plan includes investments of €400 million in data, tech and AI over the next four years and the strengthening of the customer-centric approach of the group.
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