Global advertising firm, Havas, has reported revenue of €1,461 million for 2005, enjoying organic growth of 2.5% year on year.
The group enjoyed income from operations of €152 million, giving a margin of 10.4%, compared with 10.5% for the same time in 2004.
Net income increased by 8% year on year, reaching €59 million, up from €55 million in 2004. Earnings per share fell to 14 cents in 2005, from 16 cents in 2004.
Average net debt from the group was €542 million, up from €538 million in 2004. Net new business for 2005 reached €1,055 million in estimated annual billings, down from €1,548 million for 2004.
Havas attributes this downturn primarily to the loss of two of Havas’ top ten accounts, Intel and Volkswagen (in the USA)
These results follow on from organic growth of 1.8% in the last quarter of 2005, boasted by a strong performance from France, Spain, Eastern Europe and Belgium (see Havas Sees 2.5% Organic Revenue Growth In 2005).
Related Links
