Havas Advertising has announced Q1 revenue of E501 million for 2002 representing organic growth of -5.5%. Revenue in Europe fell by -4.7% but the most severe downturn was in North America where revenue fell by -8.2%. Billings amounted to E3.343 billion for the quarter.
Advertising brought in E183.7 million in Q1, a drop of 8.1% on last year whilst media and marketing services revenue fell 4% to E317.4 million.
Havas said that “the worldwide environment remains uncertain, with a lack of visibility in the main markets” and, as a result of this lack of visibility, said that “The development of existing customers, new business and cost control are priorities for 2002.”
Commenting on the results, Havas chairman and CEO, Alain de Pouzilhac, stated: “The first three months of 2002 are in line with our expectations, despite a tough environment. More than ever, our strategy remains focused on developing our existing customers both geographically and across the various communications sectors.
With our strategic reorganisation, we have already developed significant synergies between the various communications sectors and the GroupÂ’s various brands. This reorganisation has also helped us to win new customers, as the recent Reckitt Benckiser worldwide business win demonstrates. While remaining cautious in view of the lack of market visibility, we confirm our objective of a rebound for Havas Advertising in 2002.”
