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Havas ends 2013 with 1.6% growth; garners €514 mn revenues in Q4

15-February-2014
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Havas ends 2013 with 1.6% growth; garners €514 mn revenues in Q4

Havas has reported growth of 1.6 per cent in Q4 of 2014, with revenues of €514 million. Consolidated group revenue in 2013 stood at €1,772 million for the full year. Net new business in 2013 amounted to €1,375 million.

Organic growth was +1.0 per cent for full-year 2013 and +1.6 per cent for Q4 2013. On an unadjusted basis, full-year growth in 2013 was down -1.1 per cent, mainly due to exchange rate, which had a negative impact on revenue of €51 million. At constant exchange rates, organic growth was +1.8 per cent.

Digital and social media again made a major contribution to Group revenue as the Group continued to position these businesses at the heart of all its activities and agencies worldwide. With no significant acquisitions over the course of the year, digital and social media still accounted for 26 per cent of total Group revenues in 2013.

Commenting on the group’s performance, Yannick Bolloré, CEO, Havas said, “We ended 2013 with growth of 1.6 per cent, which represents a significant acceleration over our growth rate in Q1 2013. This improvement was underpinned by solid performances in Europe and sustained growth in Asia Pacific. Our North America business is recovering, with a new team in place and increased commercial momentum. The level of New Business, both globally and locally, is highly encouraging, with wins including Dove (Unilever), Total, Emirates, LG Electronics, LVMH, as well as Dish, Liberty Mutual and Green Mountain Keurig.”

“We pursued our strategy of integrating our creative, media and digital teams in 2013. New Havas Villages have recently been inaugurated in New York and Singapore. Deploying this new, client-centric organization makes us more agile, more innovative and quicker to respond to the changes taking place in our industry,” he added.

Geographic distribution of revenue for 2013

Europe:
France performed well throughout 2013, with good quarter on quarter growth driven by the dynamism of Havas Media and the Group’s creative agencies, particularly BETC.

The UK posted strong and sustained growth of +6.5 per cent for the year, with an excellent fourth quarter reflecting both account wins by the Creative and Media divisions and the recognition of exceptional income at Havas Media.

The situation in the rest of Europe is mixed, with sustained growth in countries like Germany and Belgium, partially offsetting the downturn in our other European markets.

As a whole, the Europe zone posted +2.3 per cent growth in Q4 and +1.4 per cent for the full year 2013.

North America:
The region reported negative growth of -1.2 per cent for Q4 and -1.7 per cent for the full year in 2013. This primarily reflects the impact of certain account losses at Arnold and a temporary softening in the healthcare communications business. Havas Worldwide New York and most other agencies in the region reported strong growth.

Rest of world:
Asia Pacific posted double-digit growth (+17.5 per cent) for Q4 2013. All the region’s businesses and countries contributed to this performance, and winning the LG Electronics and Emirates accounts in media, Danone in digital and CRM, and Australian Defence Force Recruiting in digital and advertising had a significant impact on results.

Latin America reported a slowdown in Q4 due to a one-off underperformance from Brazil and Argentina. Over the full year, the region nonetheless reported growth of +4.4 per cent.

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