Publicis Groupe’s very good 2022—and surprising forecast for 2023
“Publicis Groupe posted double-digit revenue growth for the second consecutive year and predicted single-digit growth for 2023, which would exceed analysts’ expectations,” Ad Age’s Alexandra Jardine reports.
The details: “In 2022, net revenue of 12,572 million euros was up almost 20% from 2021. Despite the uncertain economy, the holding company reported that organic revenue—which strips out the impact of acquisitions, divestitures and currency fluctuations—was up 10.1%, ahead of analyst expectations and Publicis’ own forecast calling for 8.5% growth. In the fourth quarter, Publicis’ net revenue jumped by 18% to 3,462 million euros, and organic revenue increased by 9.4%.”
Essential context: Arthur Sadoun, Publicis CEO and chairman, told Jardine that the fourth quarter growth came down to two factors: the “even better than expected” performance of its Epsilon and Sapient divisions, and the fact that clients had not cut their budgets significantly, as per some predictions. “We have not seen a major change in our client behavior,” he said. For 2023, Jardine adds, “The Groupe is currently predicting organic growth of 3% to 5%. That is well above the flat predictions currently given by analysts due to the macroeconomic environment, said Sadoun.”
from Digital Marketing Education https://ift.tt/KQlB39x
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