https://theprpost.com/post/8827/

Havas sees slight dip in net revenue for Q3 2024

Havas reported a slight dip in its net revenue for Q3 2024, with a 0.5% decline from €654 million to €650 million, approximately $700 million, compared to the same period last year.Vivendi, Havas' parent company, did not disclose the agency’s organic growth for Q3, which would normally account for mergers, acquisitions, and currency changes. In Q2 2024, Havas' organic growth had contracted by 1.7%, according to Vivendi.Havas saw positive performance in Europe, where net revenue rose by 3.5% year-on-year to reach €320 million. Latin America also experienced strong growth, with a 9.6% increase, bringing revenue to €49 million. Yannick Bolloré, chairman of Vivendi’s supervisory board, and CEO Arnaud de Puyfontaine highlighted that Havas Media, alongside Europe and Latin America, drove much of the company's success.However, North America faced challenges, with net revenue falling by 8.6% to €219 million. Meanwhile, in the Asia-Pacific and African markets, Havas recorded a 3.2% rise, bringing revenue to €62 million.The Havas PR Network, which includes agencies like Havas PR, Havas Formula, Republica Havas, and One Green Bean, saw growth, aided by acquisitions contributing to 3% of the net revenue boost. Key acquisitions such as Uncommon Creative Studio, Eprofessional, Shortcut, and Ledger Bennett played notable roles in this.The report highlighted that Havas Media continued to show strong performance, while Havas Creative and Havas Health & You had mixed results commercially.For the first nine months of 2024, Havas' net revenue grew by 2.1% year-on-year, reaching €2 billion.Vivendi also confirmed progress on its plan to spin off Havas as a separate entity.