Havas Chairman Alain de Pouzilhac attributed the strong growth to two factors: new business topping $3.5 billion, and a global expansion plan that saw the company acquire 43 agencies worldwide, 90% of which are in the marketing services field.
The results take into account fourth-quarter activity at U.S.-based Snyder Communications, acquired by Havas for $2.2 billion last September, but not activities from the first nine months of 2000. When the full Snyder acquisition and all others are factored into year-end results, the new Havas Advertising reports billings topping $14.3 billion and gross income topping $2.1 billion in 2000, solidifying it as the world's fourth largest consolidated advertising group.
Havas says Europe accounts for 48.6% of its billings, North America 43.7%, Latin America 3.9% and Asia 3.8%.
Excluding the Snyder acquisition and all others completed during 2000, Havas reports organic growth of 22.3%, or 13.8% after accounting for exchange rate fluctuations.
Copyright February 2001, Crain Communications Inc.