Revenues at global advertising network, Publicis, jumped by 20.2% during the course of 2002, putting the group on course to hit its earnings targets for 2003.
The figures, announced late yesterday, show revenues rising from €2.4 billion in 2001 to €2.9 billion in 2002. This rise was largely a result of the incorporation of the Bcom3 group’s revenues. Publicis acquired Bcom3 in September last year (see
Publicis Confirms BCom3 Merger Details), allowing it to contribute revenue to the last three months of the year.
Promisingly, Publicis also indicated that the revenue trend in the fourth quarter was stronger than the preceding three quarters of the year and chairman and CEO, Maurice Levy, is confident on outlook for 2003.
“Our 2002 numbers lead me to believe that we should be in a position to realise an EBIT [ – earnings before interest and tax – ] margin in the vicinity of 14% on our revenues, which is in line with our objective. As for 2003, I remain personally confident of our ability to reach a margin of 15% EBIT towards the end of the year,” said Levy.
Revenues by region Europe was by far the weakest region for Publicis, with organic revenues falling by 5.8%. North America also saw a decline, of 3.7%, whilst the other world regions turned in positive organic growth for the year.
| Publicis 2002 Revenues By Region |
| |
|
|
|
| |
€m |
Organic growth |
Actual growth |
|  Europe |
 1,258 |
 -5.8% |
 14.7% |
|  North America |
 1,273 |
 -3.7% |
 23.1% |
|  Asia-Pacific |
 240 |
 0.9% |
 32.8% |
|  Latin America |
 104 |
 3.5% |
 29.6% |
|  Rest of world |
 51 |
 7.8% |
 20.4% |
|  Total |
 2,926 |
 -3.9% |
 20.2% |
Publicis’ divisions include StarcomMediaVest, ZenithOptimedia, Leo Burnett, Saatchi & Saatchi and Bartle Bogle Hegarty. It is the world’s fourth largest communications group in terms of billings.
