Publicis Groupe, advertising network, has reported organic growth of 10.3% for the third quarter to generate $3.15 billion (3.237 billion Euros) with Europe and the U.S. both achieving organic growth of 11.1% and APAC of 4.1% with China alone growing by 5.9% despite ongoing lockdowns.
Publicis Groupe’s net revenue in Q3 2022 was 3,237 million euros compared to 2,621 million euros in Q3 2021, increasing by +23.5%. Exchange rate variations had a 295 million euros positive impact. The acquisitions (net of disposals) have a positive impact of 22 million euros this quarter.
Organic growth was +10.3% in Q3 2022 compared to 2021.
Arthur Sadoun, Chairman and CEO of Publicis Groupe said “For the third quarter in a row, our model allowed us to deliver double digit growth by once again capturing the evolution in client spend towards first-party data management, digital media and business transformation. Publicis Sapient continued to perform strongly with +18.1% organic growth, and Epsilon saw an acceleration to +13.9% organic growth this quarter.
“All of our regions posted solid organic growth, with both the U.S. and Europe at +11.1%, and China at +5.9% despite the ongoing lockdowns there.
“Furthermore, our new business record continues to place us at the top of industry rankings on a 12-month basis, well ahead of competition.
“Overall, our results since the beginning of the year mean that today we are in a position to upgrade our full year 2022 guidance for the second time. We are now confident of delivering circa +8.5% organic growth versus +6 to +7% previously, with an operating margin at close to 18% and a Free Cash Flow close to €1.6bn.
“Our Q3 numbers are clearly encouraging. But what really stands out is our performance versus pre-pandemic levels. Compared to 2019, we’ve seen our organic growth accelerate to +16% in Q3. This demonstrates our ability to more than withstand the ups and downs of the global economy, and makes us confident in our ability to face ongoing macroeconomic uncertainties.
“I’d like to thank our clients for their partnership. I also want to say a big ‘merci’ to all of our people for their outstanding efforts. In a context where inflation is impacting the daily lives of many of them, we want to ensure we are giving additional support where it is most needed as we enter the holiday season. That is why we are granting next month an additional one-week salary to half of our team members who do not have any variable remuneration and have contributed to everything we have achieved over the past year.”