Havas’ net revenue has declined by 0.5% in the third quarter, down to £541million, however, parent firm Vivendi opted not to share its organic growth figures.
Organic growth is usually a more accurate metric of a business’ performance as it strips out revenue associated with mergers and acquisitions and currency fluctuations.
Last quarter, its include organic growth shrunk by 1.7%.
The holding group did however reveal that acquisitions accounted for an impact of 3% on its net revenue, with important contributions made by flagships Uncommon and Ledger Bennett, among others.
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Regionally, Havas performed strongly in its home European market, posting net revenue growth of 3.5% rising to £291 million. The firm also registered impressive net revenue growth of 9.6% in Latin America, rising to £41 million.
In the key North American market, net revenue declined by 8.6% to £182 million, whilst APAC grew by 3.2% to £52 million. Across the first three quarters of 2024, Havas’ total net revenue grew by 2.1% year-on-year, rising to £1.7 billion.
Vivendi’s project to divest Havas continues to move forward, with a shareholder’s meeting to be convened on 13 December, with a view to approving a potential first listing of shares on 16 December.
