Havas reports €2.736 billion revenue in 2024

New Delhi: Havas reported a net revenue of €2.736 billion in FY2024, reflecting an organic growth of 1.5% compared to the previous year. 

Havas’ financial success in 2024 was driven by a combination of organic growth and contributions from strategic acquisitions, which added 2.5% to net revenue. 

The company’s adjusted earnings before interest and taxes (EBIT) reached an all-time high of €338 million, landing at the upper end of its previously announced guidance range. 

This represents an improvement in profitability, with the adjusted EBIT margin rising to 12.4% from 12.1% in 2023. 

The group attributed this achievement to disciplined cost management, particularly in personnel expenses, despite an increase in restructuring costs from €19 million in 2023 to €29 million in 2024.

However, total revenue saw a slight decline of 0.8% compared to 2023, largely due to underwhelming performance in key markets such as the UK and the US, which weighed on overall figures. 

Despite this, Havas highlighted robust growth in other regions, notably Latin America, where organic growth soared to 14.7%, fueled by double-digit gains in the Havas Creative and Havas Media Networks divisions during the fourth quarter.

The company’s financial result for the year was a negative €37 million, compared to €31 million in 2023, reflecting higher financial pressures. Interest expenses dropped to €2 million from €8 million the previous year, offering some relief amid broader economic headwinds.

Organic revenue growth basis geographical regions

Europe: Throughout 2024, Europe recorded a net revenue increase of 1.2% compared to the same period in 2023. France delivered a positive performance, driven notably by momentum from the Olympic Games. The United Kingdom posted a negative performance, weighed down by Havas Health and Havas Creative.

North America: This region ended the year down 6.6%, primarily due to the loss of Pfizer as a client at the beginning of 2024. Havas Media experienced a challenging year in North America in 2024, while Havas Creative recorded a solid performance.  

APAC & Africa: These regions recorded a positive performance, 1.1%, driven by Havas Media, whose market positions are significant, and by Havas Health.

Latin America: This region experienced very strong organic growth at 14.7% in 2024, particularly in the fourth quarter. This excellent performance is driven by Havas Creative and Havas Media Networks, with double-digit organic growth.

Havas’ leadership credited the launch of its “Converged” strategy in June 2024 as a pivotal factor in sustaining growth. This global initiative, backed by a €400 million investment in data, technology, and artificial intelligence through 2027, aims to integrate creativity with cutting-edge tools to deliver tailored client solutions.

Yannick Bolloré, CEO and Chairman of Havas, said, “2024 was a historic year of financial performance and transformation for Havas, marking its successful listing on Euronext Amsterdam and the launch of its Converged global strategy. Today, Havas is in a very strong position to deliver on its growth objectives and create long-term value, as it reaffirms its status as the strongest challenger in the communications and marketing industry. 

Havas has fully achieved its guidance for 2024, demonstrating strong agility. We are committed to driving profitable growth, seizing opportunities in rapidly expanding sectors like digital, retail, customer experience, design and strategic advisory, while increasing our investments in data, tech, and AI, and strengthening our global content-at-scale network. Following the closing of six acquisitions in 2024, we maintain our dynamic M&A strategy, having already completed three new acquisitions in key growth areas since the beginning of the year.”

Havas ended 2024 with a workforce of 22,610 employees globally.