Havas Latest Ad Holding Company to Report Tough '09

But Like Rivals, Says Business Improved in Forth Quarter

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LONDON (Adage.com) -- Havas announced today a steep 8.1% drop in 2009 revenue to $1.95 billion from the previous year. The financial results include the Euro RSCG and Arnold advertising networks and Havas Media, which includes MPG. Net profit declined even more, by 12%, to $125 million in 2009 from the previous year.

In a trend shared with rival holding companies that reported their 2009 results earlier, Havas noted that business improved in the fourth quarter, when revenue fell by only 4.4%, the company's best quarter of 2009. Havas' French competitor, Publicis Groupe, reported last month a decline in organic growth of 6.5% for the year, and a drop of 5.4% for the fourth quarter.

Havas' revenue fell by 7.5% in North America, 8.6% in Europe and 14.2% in Asia Pacific. The group's best-performing region and the only one to show growth was Latin America, where revenue was up 1.1%.

Net new business for 2009 was $1.7 billion, including global wins from Hyundai Kia for Havas Media, Reckitt Benckiser for MPG, Credit Suisse and Jacob's Creek for Euro RSCG, and IBM at Euro RSCG 4D.

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