Havas has reported a rise in net income of 25% for 2008, to €104 million, with net debt down to €79 million.
The group, whose operations include Euro RSCG, Havas Media and Arnold Worldwide, saw organic growth grow 4.7% while its operating margin was 12.1%, up from 8.2% in 2006.
Havas said that its new streamlined structure and cost control measures were the reason for its good performance last year.
Fernando Rodés Vilà, chief executive officer of the Havas Group, said: “For the first time in its history, Havas posts a net income of over €100 million. We ended 2008 with +4.7% growth and a fourth quarter with +2.0% growth while the industry as a whole is for the moment reporting weaker or negative growth.
“Despite a much weakened economic environment, our ability to adapt, our creativity, our media expertise, growth in our digital business and the balanced geographic spread of our revenues enabled us to achieve these results for full year 2008.
“For the second year running, all our regions contributed to growth. Operating margin has grown steadily, from 8.2% in 2006 to 11.0% in 2007 and 12.1% in 2008.”
