Havas posts 3.8% organic growth in Q3 2025 and raises full-year guidance

New Delhi: Havas reported strong third-quarter performance and raised its full-year 2025 guidance, citing steady commercial momentum and continued progress on its AI strategy.

The group posted net revenue of 656 million euros in Q3 2025, up 3.8% on an organic basis versus the same quarter last year, which had a favourable comparison base after a 2.3% organic decline in Q3 2024. 

Changes in the scope of consolidation added 1.0% to net revenue, and foreign-exchange movements reduced growth by 3.9%, reflecting weaker US and Latin American currencies. Reported revenue for Q3 was €681 million, up 1.1% year-on-year, or 3.9% organically. For the first nine months, organic growth was 2.8%, supported by increased work with the group’s top 30 clients through cross-selling.

Regional trends were mixed but positive overall. Europe grew 1.9% organically, with a solid contribution from the United Kingdom across Havas Creative and Havas Media, while France declined on an unfavourable comparison with last year’s Olympic period. North America delivered a strong 7.4% organic increase, helped by double-digit growth at Havas Health and higher budgets from existing clients. APAC and Africa returned to growth with an 8.2% organic rise. Latin America fell 4.6% on a high base in Q3 2024 and softer spending in Brazil and Chile, but remained up 3.8% organically for the nine-month period.

On guidance, Havas now expects full-year 2025 organic net revenue growth between 2.5% and 3.0% compared with a prior indication of above 2.0%. It sees adjusted EBIT margin improving by about 50 basis points to around 12.9%, versus a previous range of 12.5% to 13.5%. The dividend payout ratio target remains around 40%. Medium-term financial objectives for 2028 are unchanged, with an adjusted EBIT margin target between 14.0% and 15.0% and a payout ratio of around 40%.

Yannick Bolloré, Chairman and CEO, said the third quarter showed “impressive commercial momentum” and highlighted progress on Converged.AI, the group’s approach to embedding AI across client marketing ecosystems. He also pointed to Horizon Global, the recently announced joint venture with Horizon Media, as a strategic step designed for US-centric global opportunities.

Havas continued selective M&A with a majority stake in Tidart, a Spanish digital performance agency that adds depth in performance and e-commerce and broadens exposure to mid- and long-tail clients. The group also advanced its capital allocation programme, repurchasing 8.77 million ordinary shares in Q3 at an average price of €1.5024. From the start of the programme on June 2 to September 30, cumulative buybacks totalled 11.37 million shares at an average price of €1.5025.

In a separate move to simplify the share structure, Havas will implement a 10-for-1 reverse share split on November 18, 2025, following shareholder approval on May 28. The number of ordinary shares will move from 991.8 million to 99.2 million, and the nominal value will increase from €0.20 to €2.00.

Management said it enters the year-end period with greater confidence while staying cautious on geopolitical, trade and political risks.