French media and advertising group Havas is expecting 2002 to be another year of negative growth in the worldwide ad market, with CEO Alain de Pouzilhac forecasting a 0-2% decline.
The US is forecast to fall by 1.5% and Europe by 2.0%, de Pouzilhac told an analysts’ meeting. Nevertheless, Havas expects that its top 25 clients will increase their spending by 3.5%, adding growth at the company.
This outlook echoes research by OMD Europe, which found that the majority of European advertisers are not anticipating that their budgets will be cut this year (see European Advertisers Confident On 2002 Budgets). France, however, was the most pessimistic of the four big markets, whilst the UK came out as the most upbeat about the coming year.
Havas believes it is on target to meet its 2001 guidance figures of 10-12% operating earnings, before tax and interest.
The company owns the Media Planning Group media agency and Euro RSCG ad agency.
