Havas reports robust first half 2025 results, demonstrates strategic momentum and financial strength

PARIS, FRANCE – Havas Group has reported strong financial and operational results for the first half of 2025, underlining the effectiveness of its strategic transformation and the resilience of its global operations. The group posted a solid organic revenue growth of +2.3%, driven by robust momentum in North America and a disciplined focus on creativity, technology and integrated solutions.

At the close of June 2025, net revenue reached €1,346 million, marking a +2.9% increase year on year, sustained by consistent organic growth and supported by a diversified global business model. Notably, organic growth accelerated to +2.6% in Q2, up from +2.1% in Q1, reflecting increasing commercial dynamism.

Adjusted EBIT rose by 8.3% to €144 million, while adjusted EBIT margin improved by 50 basis points to 10.7%, showcasing enhanced operational efficiency.

Yannick Bolloré, CEO and Chairman of Havas, said “Havas has delivered a solid first half of the year, achieving organic growth of +2.3% and driving dynamic new business momentum, particularly in North America, along with numerous integrated wins we are especially proud of. The rollout of our global strategy and operating system, launched one year ago and now evolved into Converged.AI to reflect its expanded capabilities, is clearly bearing fruit and delivering meaningful impact for our clients worldwide.”

Financial Highlights – H1 2025

• Net Revenue: €1,346 million (+2.9% year-on-year)
• Organic Growth: +2.3%, with Q2 outperforming Q1
• Adjusted EBIT: €144 million (+8.3% YoY)
• Adjusted EBIT Margin: 10.7% (+50bps)
• Net Income (Group Share): €74 million (vs. €71 million in H1 2024)
• Operating Cash Flow (before working capital): €117 million (up from €104 million in H1 2024)

Despite foreign exchange headwinds and restructuring costs, the group’s solid cash flow generation and lower tax liabilities (effective tax rate of 31.8%) contributed to strong bottom line performance.

Regional and Sector Performance

• Europe (50% of revenue): Organic growth of +1.3%, bolstered by solid performances in France and the UK.
• North America (35% of revenue): Accelerated organic growth of +3.9%, led by double-digit growth in Havas Health.
• Latin America (6% of revenue): Maintained +8.6% organic growth, despite Q2 deceleration.
• APAC & Africa (9% of revenue): Recorded a decline of -1.8%, primarily due to reduced client spending in China.

By business line:

• Havas Health: 23%, with standout performance in North America
• Havas Creative: 41% of net revenue
• Havas Media: 36%

At the heart of Havas’ performance lies Converged.AI, its reimagined strategic platform integrating artificial intelligence across the value chain from audience targeting and analytics to content creation and personalization.

Backed by a planned €400 million investment through 2027, the initiative is now entering its second phase: scaling a human-led agentic ecosystem, where AI agents augment human creativity to deliver faster, more adaptive and client-focused solutions.

In the first half of 2025, Havas acquired five agencies to bolster its capabilities in media, health, creative, and CRM:

1. CA Sports (Spain) – Now part of Havas Play, strengthening sports marketing.
2. Channel Bakers (USA) – Enhances e-commerce media and retail innovation.
3. Don (Argentina) – A major creative player reinforcing Havas Creative Network.
4. FMad (France) – Award-winning health communications agency.
5. Enverta Digital (Canada) – Specialists in CRM and digital transformation.

New strategic partnerships include:

• Ostro – An AI-powered engagement platform for life sciences.
• YouGov – Expanded collaboration for advanced data insights

Havas secured 39 Lions at the 2025 Cannes Lions, with notable wins including:

• 2 Grand Prix: Havas Paris & Events for the Paris 2024 Olympics and Havas Play for LVMH.
• BETC: 13 Lions
• Havas India: First ever Gold Lion for “Ink of Democracy”
• Strong showings in the UK and Latin America with five Lions each.

With a clear focus on creative innovation, technological transformation and financial discipline, Havas continues to strengthen its position as a global leader in communications, shaping the future of media and marketing in an AI-powered world.

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