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Business Wire
18 hours ago
- Business
- Business Wire
Vivendi: Results for the First Half of 2025
PARIS--(BUSINESS WIRE)--Regulatory News: Yannick Bolloré, Chairman of Vivendi's (Paris:VIV) Supervisory Board, and Arnaud de Puyfontaine, Chief Executive Officer, said: 'Vivendi reported strong results for the first half of 2025. Our revenues increased by 8%, and EBITA improved by €47 million compared to the first half of 2024. This positive momentum reflects in particular the ongoing transformation of Gameloft, whose strong performance stands in contrast with the current trend in the video game sector. We also reduced corporate costs by €13 million and benefited from an increase in our share of the net earnings of Universal Music Group (UMG) of €14 million. During this first half of the year, we continued to optimize our portfolio of investments. The sale of almost all our TIM's shares marks our withdrawal from the telecoms sector, which is no longer a core business for us, and enables us to achieve a significant reduction in our financial net debt. In addition, the Group now owns more than 13% of Lagardère following the conclusion of the subsidiary offer of the takeover bid initiated on this company in 2022. True to our mission, we are pursuing the development of our activities in the content, media and entertainment industries, while continuing to manage our portfolio of investments and exploring new opportunities for value creation.' Comments on earnings This press release contains unaudited condensed financial results for the first half of 2025, established under IFRS 1, which were approved by Vivendi's Management Board on July 28, 2025, reviewed by Vivendi's Audit Committee on July 28, 2025, and by Vivendi's Supervisory Board on July 30, 2025. For the first half of 2025, Vivendi's revenues were €145 million, an increase of €11 million compared to the first half of 2024 (+8.4% at constant currency and perimeter). This increase reflects the good performance of Gameloft. For the same period, EBITA was €18 million, compared to -€29 million for the first half of 2024. EBITA included the following contributions: Gameloft: +€8 million (compared to -€12 million for the first half of 2024), an increase of €20 million (see below); Corporate: -€52 million (compared to -€65 million for the first half of 2024), an improvement of €13 million mostly due to recurring operating savings and favorable non-recurring effects; and Vivendi's share of the net earnings of UMG accounted for under the equity method: €62 million (compared to €48 million for the first half of 2024), an increase of €14 million. ____________________ 1 As a reminder, in accordance with IFRS 5, income and charges from distributed entities following the Vivendi spin-off on December 13, 2024, i.e., Canal+, Havas, Lagardère and Prisma Media, as well as income and charges from other discontinued entities, i.e., festival and ticketing activities, are reported as follows: their contribution until the date of their effective disposal to each line of Vivendi's Consolidated Statement of Earnings (before non-controlling interests) has been reported on the line 'Earnings from discontinued operations'; these adjustments have been applied to all periods presented to ensure consistency of information; and the share of net income has been excluded from Vivendi's adjusted net income. These adjustments were made in respect of data from the Consolidated Statements of Earnings and Cash Flows. Expand For the first half of 2025, earnings attributable to Vivendi SE shareowners amounted to a profit of €30 million (or €0.03 per share - basic), compared to €159 million for the first half of 2024 (€0.16 per share - basic). For the first half of 2024, it included the capital gain on the sale of festival and international ticketing activities (+€106 million) and the net earnings (before minority interests) of Canal+, Havas and Louis Hachette Group for an aggregate amount of +€93 million. These positive items were partially offset by the financial consequences of the settlement agreement entered into on June 28, 2024, with all institutional investors which put an end to the litigation relating to the Group's financial communications in the early 2000s (-€95 million). Dividends received from non-consolidated companies were €64 million in the first half of 2025 (€66 million for the first half of 2024). They included dividends from MediaforEurope (€30 million), Banijay Group (€29 million) and Lagardère (€5 million). As a reminder, in 2024, Lagardère's dividend was eliminated as an intra-group flow, as Lagardère was fully consolidated until December 13, 2024. In addition, for the first half of 2024, dividends from non-consolidated companies included the dividend from Telefonica (€9 million). As of June 30, 2025, the Financial Net Debt amounted to €1,768 million, compared to €2,573 million as of December 31, 2024; borrowings amounted to €1,940 million, compared to €2,647 million as of December 31, 2024; and cash, cash equivalents and cash management financial assets amounted to €172 million, compared to €74 million as of December 31, 2024. European Commission statement of objections On July 25, 2023, the European Commission announced that it had opened a formal investigation to determine whether, when acquiring Lagardère, Vivendi SE breached the notification requirement and standstill obligation set out in the EU Merger Regulation, as well as the conditions and obligations attached to the Commission's decision to approve the Vivendi/Lagardère transaction. On July 18, 2025, the European Commission sent a statement of objections to Vivendi regarding a potential early implementation of the takeover transaction of Lagardère SA. The Commission takes the preliminarily view that Vivendi breached three provisions of Regulation (EC) No 139/2004 on the control of concentrations by implementing the takeover of Lagardère SA before notifying the transaction (in breach of Article 4(1) of the Regulation), before obtaining authorization (Article 7(1)), and before the Commission's approval of the purchasers of the assets divested as remedies, Editis and Gala (Article 8(2)). This statement of objections initiates the adversarial phase of the proceedings, providing Vivendi with the opportunity to present all factual and legal arguments that, in its view, should justify clearing it of any wrongdoing and the closing of the proceedings. At this stage, according to this statement of objections, the Commission is considering imposing fines on Vivendi for these breaches under Article 14(2) of the aforementioned Regulation, pursuant to which the Commission may impose fines not exceeding 10% of the global turnover of the sanctioned company. Autorité des Marchés financiers (AMF) decision On April 22, 2025, the Paris Court of Appeal annulled the decision of the Autorité des Marchés financiers (AMF), the French securities regulator, on November 13, 2024, to the extent that it found that Bolloré SE did not control Vivendi SE, ruling that Mr. Vincent Bolloré controls Vivendi SE and accordingly instructing the AMF to reassess whether a public buyout offer for Vivendi SE shares must be launched. Bolloré SE and Vivendi SE filed appeals before the French Supreme Court against the decision of the Paris Court of Appeal on April 28 and 30, 2025, respectively. The hearing before the French Supreme Court is scheduled for November 25, 2025. On July 18, 2025, the AMF determined that the Bolloré Group and Mr. Vincent Bolloré are required to launch a public buyout offer for Vivendi SE within six months. The AMF stated that it would ensure the offer does not close until after the French Supreme Court has issued its ruling. Bolloré SE filed an appeal before the Paris Court of Appeal seeking the annulment of this decision. Vivendi SE also filed an appeal with the same objective. Co-optation of Mr. Bernard Osta to the Supervisory Board On July 30, 2025, Vivendi's Supervisory Board decided to co-opt Mr. Bernard Osta (see biography before the appendices) to replace Mr. Philippe Labro, who passed away on June 4, 2025, effective as of that date and for the remainder of the latter's term, i.e., until the Annual General Shareholders' Meeting to be called to approve the 2026 financial statements. This co-optation will be submitted for ratification at the next General Shareholders' Meeting. Financial comments on Gameloft For the first half of 2025, Gameloft's revenues were €143 million, an increase of 8.4% at constant currency and perimeter compared to the first half of 2024. This amount included €65 million for the PC/console segment and €71 million for the Mobile segment. PC/console revenues represented 45% of Gameloft's total revenues, representing an18.0% increase at constant currency and perimeter compared to the first half of 2024. Mobile revenues represented 50% of Gameloft's total revenues, remaining stable at constant currency and perimeter compared to the first half of 2024. Disney Dreamlight Valley, Asphalt Legends Unite, Disney Magic Kingdoms, March of Empires, and Disney Speedstorm were the five best-selling games for the first half of 2025 and represented 57% of Gameloft's total revenues. For the first half of 2025, Gameloft's EBITA was €8 million, a significant improvement of €20 million compared to the first half of 2024. Due to the resilience of its catalogue, the strong performance of Disney Dreamlight Valley and the implementation of its cost reduction plan, Gameloft has achieved its objective of structural profitability. Excluding restructuring charges, EBITA increased by €15 million (€8 million compared to -€7 million for the first half of 2024). For additional information, please refer to the 'Financial Report and Unaudited Condensed Financial Statements for the Half-Year ended June 30, 2025' to be released tonight (Paris time) on Vivendi's website ( About Vivendi Since its creation, Vivendi has established itself as a player in content, media and entertainment, developing a portfolio of both listed and unlisted assets, each a leader in its market. Vivendi owns 100% of Gameloft, a world-renowned video game publisher that successfully develops multi-platform games for consoles, PCs, and mobile devices. Vivendi's asset portfolio includes minority stakes in leading publicly traded companies: Universal Music Group and Banijay Group in content and entertainment, and MediaForEurope and Prisa in media and telecommunications. In addition, Vivendi owns a stake in the publishing and travel retail sector with Lagardère and a residual stake in telecoms with TIM in Italy. Leveraging its strategic and economic expertise, Vivendi anticipates global dynamics and participates in the transformations of the sectors in which the group operates, notably the digital revolution and new consumer uses of content. Vivendi supports value-creating companies, offering sustainable prospects and a positive contribution to the evolution of our society. Guided by a long-term vision and a constant drive for innovation, the group relies on experienced teams to identify and support sustainable growth projects. Corporate Social Responsibility (CSR), a commitment made in 2003, is at the heart of Vivendi's strategy and shapes each of its decisions. Important Disclaimers Cautionary Note Regarding Forward-Looking Statements. This press release may contain forward-looking statements with respect to Vivendi's financial condition, results of operations, business, strategy, plans and outlook, including the impact of certain transactions and the payment of dividends and distributions, as well as share repurchases. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of Vivendi's future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including, but not limited to, the risks related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions, as well as the risks described in the documents of the Group filed by Vivendi with the Autorité des Marchés Financiers (the French securities regulator), which are also available in English on Vivendi's website ( Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at or directly from Vivendi. Accordingly, we caution readers against relying on such forward-looking statements. These forward-looking statements are made as of the date of this press release. Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Unsponsored ADRs. Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is 'unsponsored' and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of any such facility. Biography of Mr. Bernard Osta Bernard Osta is the Chief Financial Officer of Vestiaire Collective. Before joining Vestiaire Collective, Bernard Osta spent 15 years in Investment Banking. He started his career in the Mergers and Acquisitions division of Lazard Frères, in New York (2006 to 2009) and Paris (2009 à 2011). In 2011, he joined the Investment Banking Division of Goldman Sachs based in Paris where he held the position of Executive Director. During his investment banking career, Bernard Osta advised companies globally on complex M&A, equity financing and debt financing transactions. In 2021, Bernard Osta joined e-commerce platform Vestiaire Collective as Chief Strategy Officer. Since September 2023, he has held the position of Chief Financial Officer. He graduated from HEC Paris (Master of Science in Management). In millions of euros, except per share amounts. na: not applicable. *non-GAAP measures. As a reminder, in accordance with IFRS 5, income and charges from distributed entities following the Vivendi spin-off on December 13, 2024, i.e., Canal+, Havas, Lagardère and Prisma Media, as well as income and charges from other discontinued entities, i.e., festival and ticketing activities, are reported as follows: their contribution until the date of their effective disposal to each line of Vivendi's Consolidated Statement of Earnings (before non-controlling interests) has been reported on the line 'Earnings from discontinued operations'; these adjustments have been applied to all periods presented to ensure consistency of information; and the share of net income has been excluded from Vivendi's adjusted net income. 'EBITA' and 'adjusted net income', both non-GAAP measures, should be considered in addition to, and not as a substitute for, other GAAP measures of operating and financial performance. Vivendi considers these to be relevant indicators for the group's operating and financial performance. Vivendi's Management uses EBITA and adjusted net income for reporting, management and planning purposes because they exclude most non-recurring and non-operating items from the measurement of the business segments' performances. For any additional information, please refer to the 'Financial Report for the half-year 2025', which will be released online later on Vivendi's website ( Expand Adjusted Statement of Earnings Six months ended June 30, % Change (in millions of euros) 2025 2024 Revenues 145 134 +8.0 % Adjusted earnings before interest and income taxes (EBITA) 18 (29) na Interest (42) 44 Income from investments 80 68 Adjusted earnings from continuing operations before provision for income taxes 56 83 -31.8 % Provision for income taxes (2) 58 Adjusted net income before non-controlling interests 54 141 Non-controlling interests - - Adjusted net income 54 141 -61.6 % na: not applicable. Expand Quarterly revenues: 2025 (in millions of euros) Three months ended March 31, Three months ended June 30, Revenues Gameloft 68 75 Other 1 1 Elimination of intersegment transactions - - Total Vivendi 69 76 2024 (in millions of euros) Three months ended March 31, Three months ended June 30, Three months ended September 30, Three months ended December 31, Revenues Gameloft 68 64 69 92 Other 1 1 - 2 Elimination of intersegment transactions - - - - Total Vivendi 69 65 69 94 Expand EBITA Six months ended June 30, (in millions of euros) 2025 2024 Change EBITA Gameloft 8 (12) +20 Corporate (52) (65) +13 Vivendi's share of Universal Music Group's earnings (a) 62 48 +14 Other - - - Total Vivendi 18 (29) +47 a. Includes share of earnings of companies accounted for by Vivendi under the equity method. Expand APPENDIX III VIVENDI - CONDENSED STATEMENT OF FINANCIAL POSITION (IFRS, unaudited) (in millions of euros) June 30, 2025 (unaudited) December 31, 2024 ASSETS Goodwill 264 264 Non-current content assets 18 16 Other intangible assets 1 2 Property, plant and equipment 41 41 Rights-of-use relating to leases 31 35 Investments in equity affiliates 4,380 4,371 Non-current financial assets 2,219 2,952 Deferred tax assets 10 10 Non-current assets 6,964 7,690 Inventories - - Current tax payables 20 29 Current content assets - - Trade accounts receivable and other 97 93 Current financial assets 70 70 Cash and cash equivalents 172 39 359 232 Assets of discontinued businesses 4 7 Current assets 363 239 TOTAL ASSETS 7,327 7,929 EQUITY AND LIABILITIES Share capital 566 566 Additional paid-in capital 865 865 Treasury shares (406) (415) Retained earnings and other 3,792 3,576 Vivendi SE shareowners' equity 4,817 4,592 Non-controlling interests - - Total equity 4,817 4,592 Non-current provisions 142 162 Long-term borrowings and other financial liabilities 1,495 1,993 Deferred tax assets 141 142 Long-term lease liabilities 24 29 Other non-current liabilities - - Non-current liabilities 1,802 2,326 Current provisions 42 46 Short-term borrowings and other financial liabilities 461 668 Trade accounts payable and other 157 229 Short-term lease liabilities 13 12 Current tax payables 2 3 675 958 Liabilities associated with assets of discontinued businesses 33 53 Current liabilities 708 1,011 TOTAL LIABILITIES 2,510 3,337 TOTAL EQUITY AND LIABILITIES 7,327 7,929 Expand
Business Wire
3 days ago
- Business
- Business Wire
Havas Delivers Solid Performance in the First Half of 2025, With Organic Growth of +2.3%, and Adjusted EBIT up 8.3% Year-on-Year
PARIS--(BUSINESS WIRE)--Regulatory News: Yannick Bolloré, CEO and Chairman of Havas (AEX:HAVAS), said: 'Havas has delivered a solid first half of the year, achieving organic growth of +2.3% and driving dynamic new business momentum, particularly in North America, along with numerous integrated wins we are especially proud of. The rollout of our global strategy and operating system, launched one year ago and now evolved into to reflect its expanded capabilities, is clearly bearing fruit and delivering meaningful impact for our clients worldwide. As we continue to scale our AI-powered product suite, we are committed to equipping all our teams with the knowledge and tools to fully embrace its potential, ensuring that technology and creativity reinforce one another across every part of our organization. We are maintaining a strong pace in M&A, with five new agency acquisitions completed during the first half of the year, and continue to forge strategic partnerships, most recently with Ostro and YouGov. I would like to take this opportunity to thank all our clients for their continued trust, as well as our teams for their dedication and outstanding creativity that continues to set us apart.' KEY FIGURES In millions of euros (unaudited figures) H1 2024 H1 2025 Yoy % change Revenue 1,366 1,408 +3.1% Net revenue2 Organic growth 1,308 0.0% 1,346 +2.3% +2.9% Adjusted EBIT3 % margin 133 10.2% 144 10.7% +8.3% +50bps Net income 74 80 +8.1% Net income, Group share 71 74 +4.2% Expand Detailed unaudited consolidated financial statements for the six months ended June 30, 2025, are appended to this press release. For definitions of Alternative Performance Measures, or non-IFRS measures, please refer to the financial glossary, also appended to this press release. BUSINESS REVIEW Net revenue2 (unaudited figures) Q1 2025 Q2 2025 H1 2025 In millions of euros 649 697 1,346 % total growth +5.2% +0.8% +2.9% % scope effect +1.4% +1.0% +1.2% % organic growth +2.1% +2.6% +2.3% % 2024 organic growth +2.0% -1.7% 0.0% % forex effect +1.7% -2.7% -0.7% Expand Continued acceleration in organic growth during second-quarter 2025 The second quarter of 2025 was another quarter of growth acceleration for Havas. Net revenue 4 reached 697 million euros, increasing by +2.6% on an organic basis in the second quarter of 2025, compared to +2.1% in the first quarter of 2025. reached 697 million euros, increasing by +2.6% on an organic basis in the second quarter of 2025, compared to +2.1% in the first quarter of 2025. After taking into account a positive 1.0% scope effect and a negative 2.7% foreign exchange effect (mainly US dollar, British pound, Brazilian real, Mexican peso) total growth stood at +0.8% for the second quarter of 2025. Solid performance in the first-half of 2025 Net revenue came out at 1,346 million euros. Net revenue rose by 2.3% on an organic basis 5 , compared to 0% in the same period of 2024. , compared to 0% in the same period of 2024. Changes in the scope of consolidation 6 had a positive 1.2% impact, while changes in foreign exchange rates 7 had a negative 0.7% impact (mainly Brazilian real, Mexican peso). had a positive 1.2% impact, while changes in foreign exchange rates had a negative 0.7% impact (mainly Brazilian real, Mexican peso). Revenue for the first half of 2025 amounted to 1,408 million euros, an increase of 3.1% compared to the same period in 2024. Business lines Net revenue is divided among three main Business Lines: Havas Media (36% of net revenue), Havas Creative (41% of net revenue), and Havas Health (23% of net revenue). ORGANIC NET REVENUE GROWTH BY GEOGRAPHICAL REGION Organic growth (in %) (unaudited figures) Q1 2025 Q2 2025 H1 2025 Europe -0.2% +2.6% +1.3% North America +3.2% +4.6% +3.9% APAC and Africa +1.9% -4.9% -1.8% Latin America +16.6% +2.5% +8.6% Group Total +2.1% +2.6% +2.3% Expand Europe (50% of net revenue): after a better performance in the second quarter of 2025 compared to the first quarter (net revenue up 2.6% in the second quarter, down 0.2% in the first quarter), organic growth in net revenue came out at 1.3% for the first half of 2025 in Europe. Both France (Havas Creative with BETC mainly) and the United Kingdom (strong performance of Havas Media notably), which are Havas' main markets in Europe, performed well in the second quarter of 2025, compared with the second quarter of 2024. North America (35% of net revenue): organic growth in net revenue accelerated significantly in this region to 4.6% in second quarter 2025, compared to second quarter 2024. This excellent performance was driven by the Havas Health business line, whose double-digit organic growth accelerated in the second quarter versus first quarter 2025. As a result, organic growth in North America came out at a solid 3.9% for the first half of 2025. For reminder, the basis comparison for the North America region was -6.4% organic growth for the first half of 2024. APAC & Africa (9% of net revenue): this region experienced a negative performance in second quarter 2025, mainly due to less client spending in China. In first half 2025, net revenue was down 1.8%. Latin America (6% of net revenue): after several quarters of sustainable growth, the Latin America region recorded a slowdown in second-quarter 2025 compared to first-quarter 2025. Organic growth remained very satisfactory for the first half of the year, up 8.6%, compared to the same period of last year. ANALYSIS OF FIRST-HALF 2025 FINANCIAL PERFORMANCE. Adjusted EBIT8 stood at 144 million euros, up 8.3% compared to the first half of 2024. Adjusted EBIT margin9 came out at 10.7%, compared to 10.2% in the first half of 2024, representing a 50 basis point improvement year on year. Personnel costs were kept under control, increasing just 1.6% compared to the first half of 2024, below the percentage increase in net revenue. Restructuring costs amounted to 7 million euros in the first half of 2025, compared to 11 million euros in the first half of 2024. Net financial expense totalled 17 million euros for the first half of 2025, compared to 4 million euros in the first half of 2024. This deterioration is mainly due to a net loss relating to foreign exchange of 10 million euros in the first half of 2025, compared to zero in the first half of 2024. The income tax expense for the first half of 2025 was 37 million euros, compared with 48 million euros in the first half of 2024. The effective income tax rate stood at 31.8% (compared to 39.3% in 2024), thanks to the implementation of the new tax group as from January 1, 2025, in France and Spain. Non-controlling interests increased to 6 million euros compared to 3 million euros for the first half of 2024, reflecting a better performance by recent acquisitions. Net income attributable to the Group amounted to 74 million euros, an improvement compared to 71 million euros in the first half of 2024. CASH FLOW GENERATION AND FINANCIAL STRUCTURE Cash flow generation in the first half of 2025 In the first half of 2025, Operating Cash flow before working capital 10 amounted to a positive 117 million euros, up from 104 million euros in the first half of 2024. The change in working capital was negative, amounting to 183 million euros, compared to a negative change of 204 million euros in the first half of 2024. Capital expenditure remained almost stable at 15 million euros, compared to 13 million euros in the same period of 2024. Financial investments totaled 25 million euros (including payments related to upfronts, buy-outs and earn-outs), down from 76 million euros in the first half of 2024. Tax paid amounted to 37 million euros compared to 33 million euros in the first half of 2024. Dividends paid to shareholders amounted to 84 million euros, of which 79 million euros were paid to Havas NV shareholders in early June 2025. In addition, the Group bought back Havas NV shares in an amount of 4 million euros during the first half of 2025 (see 'Share buyback program' below). Changes in foreign exchange rates had a negative cash impact of 59 million euros (compared to a positive impact of 8 million euros in the first half of 2024). Financial structure Consolidated equity amounted to 1,755 million euros, compared to 1,907 million euros at the end of December 2024. As of June 30, 2025, Net cash11 stood at a negative amount of 79 million euros, compared to a positive amount of 124 million euros at June 30, 2024. Average Net debt12 amounted to 28 million euros over the period. At end-June 2025, gross debt totaled 430 million euros, while cash and cash equivalents stood at 351 million euros. The liquidity available13 was 1,197 million euros. FIRST-HALF 2025 HIGHLIGHTS One year after announcing a major strategic pivot, Havas is delivering on its ambition to become an AI-driven organization, fueled by human ingenuity. The group has reaffirmed its commitment to invest €400 million by 2027 in data, technology, and artificial intelligence, a cornerstone of its global transformation. At the heart of this evolution is Havas' rebranded global strategy and operating system, which now fully integrates AI across the entire value chain, from targeting and analytics to planning, content personalization, and creative production. This first year has seen the successful deployment of a fully AI-enabled product suite, designed to enhance performance, agility, and relevance for clients. As Havas enters the second phase of its transformation, the focus shifts to scaling a human-led agentic ecosystem across the organization, where AI agents augment human expertise to deliver faster, more adaptive, and client-centric solutions. Acquisitions and partnerships During the period, the Group continued to pursue its strategy of bolt-on and targeted acquisitions. Havas acquired majority stakes in five agencies: CA sports (Spain), an agency specializing in sponsorship strategy and business development through sports, which joined Havas under Havas Play, the Group's sports and entertainment network dedicated to connecting brands to audiences through their passions; (Spain), an agency specializing in sponsorship strategy and business development through sports, which joined Havas under Havas Play, the Group's sports and entertainment network dedicated to connecting brands to audiences through their passions; Channel Bakers (United States), an award-winning e-commerce media agency and leader in retail media innovation, reinforcing Havas Market's global offering; the agency is an Amazon Ads advanced partner; (United States), an award-winning e-commerce media agency and leader in retail media innovation, reinforcing Havas Market's global offering; the agency is an Amazon Ads advanced partner; Don (Argentina), one of the most prominent, multi-award-winning creative agencies in Latin America, joined Havas Creative Network, strengthening Havas' global creative presence and reaffirming its longstanding commitment to investing in creativity; (Argentina), one of the most prominent, multi-award-winning creative agencies in Latin America, joined Havas Creative Network, strengthening Havas' global creative presence and reaffirming its longstanding commitment to investing in creativity; FMad (France), France's 2024 Healthcare Communications Independent Agency of the Year, highlighting Havas' strengthened commitment to merging creative excellence with industry expertise to confront the critical challenges in the health and wellness sector; (France), France's 2024 Healthcare Communications Independent Agency of the Year, highlighting Havas' strengthened commitment to merging creative excellence with industry expertise to confront the critical challenges in the health and wellness sector; Enverta Digital (Canada), a team of leading CRM and digital transformation specialists, enhancing Havas' customer experience operations across North America. Havas also pursued strategic partnerships with major players to strengthen its capabilities, accelerate innovation and help its clients address their specific business challenges. Among these, a key collaboration with Ostro, the pioneering AI-powered engagement platform designed for the life sciences industry, and the expansion of the partnership with YouGov, stand out as significant milestones. Key client wins in the first half of 2025 Havas is driving dynamic commercial momentum, delivering robust performance in both New Business and In-Business growth, as well as demonstrating the strength of its client partnerships. Havas Media Network First quarter 2025: Campos Coffee, Carl Buddig, Collegium Pharmaceutical, Dr. Theiss, Elizabeth Arden, Hourglass Cosmetics, Isdin, Liverpool, MagicBricks, PINSA, Rush Gaming. Second quarter 2025: CaixaBank, Cencosud, Generalitat de Catalunya, Lombard Odier, Olive Garden, Pennylane, PKO BP, Rahat Rooh, Realme, TIM. Havas Creative Network First quarter 2025: Asahi, Carl Buddig, Citeo, EDF, EPI COMPANY, Honor, Jacuzzi, Lidl, Nacional Monte de Piedad, Ocado, PKO Bank, RTX, TIM Brazil, Under Armour, Yili Milk Co., LTD. Second quarter 2025: American Residential Services, Google, Meta, Toyota. Havas Health Network First quarter 2025: Alnylam, Arrowhead Pharmaceuticals, GSK Benlysta, GSK Camlipixant, Merck Enlicitide, Merck Verquvo, Sanofi Alphamedix. Second quarter 2025: GSK Bepirovirsen. Cannes Lions awards Havas recorded a standout presence at the 2025 Cannes Lions, reinforcing its creative leadership on the global stage, with 39 Lions awarded to 15 agencies across the network. Havas was honored with two Grand Prix, one awarded to Havas Paris and Havas Events for their work on the Paris 2024 Olympics opening ceremony with Paname 24, and another to Havas Play for LVMH's 'The partnership that changed everything'. It is also worth highlighting that Havas India earned its first-ever Gold Lion for the impactful campaign 'Ink of Democracy', and the Group saw strong momentum in other regions, with five Lions each for Latin America and the United Kingdom. BETC once again demonstrated its creative influence, securing 13 Lions. SHARE BUYBACK PROGRAM On May 28, 2025, Havas announced the launch of its share buyback program. Duration: the Program started on June 2, 2025, and will last until the next annual Shareholders' Meeting, to be held in 2026. Maximum value allocated to the Program: €50,000,000. Maximum number of ordinary shares to be acquired as part of the Program: 99,181,149 Ordinary Shares (i.e., 10% of the Company's issued share capital as at the date of the Shareholders' Meeting held on May 28, 2025). Purpose of the Program: the ordinary shares repurchased may be used for reducing the Company's share capital; or short or long-term incentive for management or employees' share plans. From the beginning of the program, on June 2, 2025, until June 30, 2025, 2,603 thousand ordinary shares were bought back for an average price of €1.5028 per ordinary share. REVERSE SHARE SPLIT Today, Havas announces that it will be implementing the reverse share split, which was proposed and voted on during the Shareholders' Meeting held on May 28,2025. Pursuant to this reverse share split the number of ordinary shares in Havas NV, will be reduced by a 1:10 ratio, as each ten (10) outstanding ordinary shares of Havas NV will be consolidated into one (1) ordinary share. The amount of the share capital of Havas NV immediately before and after implementation of the reverse share split will remain unchanged because, the nominal amount of each share composing the share capital of Havas NV, after the implementation of the reverse split, will be 2 euros per share, compared with 0.2 euro per share before the reverse split. The implementation will be executed in fall 2025. Havas will announce further information regarding the precise calendar of this transaction in due time. OUTLOOK Thanks to the strength of its competitive positioning, strategic assets and talented teams to achieve its objectives, Havas approaches the second half of 2025 with confidence, while remaining cautious amid ongoing geopolitical tensions, trade pressures and political uncertainties. Havas confirms its guidance for fiscal year 2025, namely: Net revenue organic growth above 2.0% compared to 2024; Adjusted EBIT margin between 12.5% and 13.5%; Dividend payout ratio of around 40%. The Group also confirms its medium-term financial targets for fiscal year 2028: Adjusted EBIT margin between 14.0% and 15.0%; Dividend payout ratio of around 40%. ANALYST CONFERENCE CALL Speakers: Yannick Bolloré, Chief Executive Officer and Chairman, and François Laroze, Chief Financial Officer and Chief Operating Officer. Date: July 29, 2025, at 6:00 pm Paris time – 5:00 pm London time – 12:00 pm New York time. The conference call will be held in English. Audio webcast link and slides of the presentation will be available on the company's website FINANCIAL CALENDAR Upcoming financial publications: Third quarter 2025 revenue, October 14, 2025, after market close. *** About Havas Founded in 1835 in Paris, Havas is one of the world's largest global communications groups, with nearly 23,000 people operating in over 100 markets and sharing one mission: to make a meaningful difference to brands, businesses, and people. To meet the needs of its clients, Havas has developed a seamlessly integrated strategy and operating system, fusing all its global expertise, tools and capabilities, to create, produce, and distribute real-time, optimized, and personalized marketing solutions at scale. With inspired human ideas at the heart of this unique model, supercharged by the latest data, technology and AI, the teams work together with agility and in perfect synergy within Havas Villages to provide clients with tailor-made solutions that support them in their positive transformation. Havas is committed to building a diverse, inclusive, and equitable workplace, that prioritizes the well-being and professional development of its talents. Further information about Havas is available at IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS AND NON-IFRS FINANCIAL MEASURES This press release is published by Havas N.V. and may contain inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014, as amended. Certain statements contained herein may be forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans, expectations or objectives. Undue reliance should not be placed on forward-looking statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause the Havas Group's actual results to differ materially from those expressed or implied in such forward-looking statements. Please refer to Section 7.2, 'Risk Factors' of the annual report of Havas N.V. for the year ended December 31, 2024, available on Havas N.V.'s corporate website for a description of certain important factors, risks and uncertainties that may affect the Havas Group's business and/or results of operations. Havas undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as required by applicable laws and regulations. This press release refers to certain non-IFRS financial measures, or alternative performance measures, used by Havas in analyzing operating trends, financial performance and financial position of the Havas Group and providing investors with additional information considered useful and relevant regarding the results of the Havas Group. These alternative performance measures are not recognized measures under IFRS or any other generally accepted accounting standards, and they generally have no standardized meaning and therefore may not be comparable to similarly labelled measures used by other companies. As a result, none of these alternative performance measures should be considered in isolation from, or as a substitute for, the financial statements and related notes prepared in accordance with IFRS. For a definition of these alternative performance measures and a reconciliation from such alternative performance measure to the relevant line item, subtotal or total presented in the financial statements, please refer to the financial glossary at the end of this press release and Note 7.2.2 to the unaudited condensed consolidated interim financial statements as of and for the six months ended June 30, 2025 included in the financial report of Havas N.V. for the six-month period ended June 30, 2025] The financial information included in this press release in respect of the six-month period ended June 30, 2025 has not been audited or reviewed by an external auditor. In addition, certain calculated figures (including data expressed in thousands or millions) and percentages presented in this press release have been rounded. Where applicable, the totals presented in this press release may slightly differ from the totals that would have been obtained by adding the exact amounts (not rounded) for these calculated figures. The financial information included in this press release in respect of the six-months period ended June 30, 2024 has been derived from the unaudited condensed consolidated interim financial statements of Havas S.A.S., prepared in accordance with IAS 34 'Interim Financial Reporting', as of and for the six months ended June 30, 2024 (the '2024 Unaudited Condensed Consolidated Interim Financial Statements'). The 2024 Unaudited Condensed Consolidated Interim Financial Statements, together with the Havas S.A.S.'s statutory auditors' limited review report thereon, are included in Section 18, 'Historical Financial Information' of the prospectus dated October 30, 2024, published in connection with the listing and admission of Havas N.V.'s shares to trading on the regulated market of Euronext in Amsterdam and available on the corporate website of Havas ( CONSOLIDATED FINANCIAL STATEMENTS Profit and loss Unaudited accounts In millions of euros Half Year 2024 Half Year 2025 Revenue 1,366 1,408 Costs rebilled to customers (58) (62) Net revenue 1,308 1,346 Other operating expenses and income (198) (211) Personnel costs (919) (934) Depreciation and amortization (56) (55) Performance shares (2) (2) Adjusted EBIT 133 144 Goodwill impairment / earn-out adjustments 3 (3) Restructuring (11) (7) Operating income 125 134 Net financial expense (4) (17) Income before Tax 121 118 Income taxes (48) (37) Net income 74 80 Non-controlling interests 3 6 Net income, Group share 71 74 Expand Balance sheet Assets Unaudited accounts In millions of euros Dec. 31, 2024 June 30, 2025 Non-current assets Goodwill 2,535 2,486 Intangible assets 49 48 Property and equipment 205 187 Rights-of-use assets 238 239 Equity Investments 3 4 Financial assets 40 43 Deferred tax assets 96 72 Other non-current financial assets 19 28 Total non-current assets 3,185 3,107 Current assets Inventories and work in progress 115 134 Customer receivables 2,726 2,532 Current tax receivables 70 64 Other receivables 337 439 Other current financial assets 9 11 Cash and cash equivalents 234 351 Total current assets 3,491 3,531 TOTAL ASSETS 6,676 6,638 Expand Equity and Liabilities Unaudited accounts In millions of euros Dec. 31, 2024 June 30, 2025 Shareholders' equity - Group share 1,881 1,725 Capital 198 198 Share premium account 3,246 3,167 Currency translation adjustments (8) (112) Treasury shares - (4) Other reserves and retained earnings (1,555) (1,524) Non-controlling interests 26 30 Total equity 1,907 1,755 Non-current liabilities Long-term borrowings 4 2 Lease liabilities over 1 year 223 223 Earn-out and non-controlling interest buy-out obligations 237 232 Other long-term provisions 108 98 Deferred tax liabilities 69 60 Other non-current liabilities 9 8 Total non-current liabilities 650 623 Current Liabilities Short-term borrowings 7 420 Lease liabilities under 1 year 77 72 Bank overdrafts 12 8 Earn-out and non-controlling interest buy-out obligations 32 90 Short-term provisions 63 45 Trade payables 2,692 2,330 Tax payables 24 23 Other payables 1,212 1,272 Total current liabilities 4,119 4,260 TOTAL LIABILITIES 6,676 6,638 Expand Cash Flow Statement Unaudited accounts In millions of euros June 30, 2024 June 30, 2025 Net income 74 80 Adjustments of non-cash items 77 82 Amortization, depreciation and provision 30 37 Current income taxes 30 25 Change in deferred taxes 18 12 Expenses related to performance shares - 2 Other non-cash transactions (3) 1 Finance costs 2 5 Tax paid (33) (38) Change in working capital (204) (183) Net cash provided by operating activities (86) (59) Intangible and tangible (13) (15) Payment for acquisition of subsidiaries, net of cash acquired (14) (16) Loans granted 1 (3) Interest received 11 11 Loan to Vivendi 116 - Divestitures - 3 Net cash used in investing activities 101 (20) Dividends paid to Havas shareholders and non-controlling interests (94) (84) Transactions in treasury shares - (4) Buy-out payments of non-controlling interests (62) (9) Transactions on borrowings 93 401 Repayment of lease borrowings (42) (40) Interests paid on lease liabilities (6) (5) Net cash used in financing activities (111) 259 Effect of exchange rate changes on net cash 8 (59) Net increase / (decrease) in cash and cash equivalents (96) 180 Cash and cash equivalents net at opening 322 222 Cash and cash equivalents net at closing 234 343 Expand FINANCIAL GLOSSARY Adjusted EBIT Adjusted EBIT represents net income excluding income taxes, interest, other financial income and expenses, goodwill impairment, earn-out adjustments and restructuring charges Adjusted EBIT margin Ratio in % of (Adjusted EBIT) / (Net Revenue) bps Basis points Capex Cash used for purchases of intangible and tangible assets Operating Cash Flow before working capital Net cash provided by operating activities, excluding changes in working capital and taxes paid, and including lease payments, as reported in the consolidated financial statements Dividend payout ratio Target proportion of net income attributable to the shareholders of Havas, the distribution of which would be proposed to the General Shareholders' Meeting of Havas. EBIT Operating income (EBIT – Earning Before Interest and taxes) including the impact of restructuring charges Foreign Exchange rate change Contribution of the foreign exchange effect (or currency effect) to total growth Like-for-like, Organic growth Growth achieved through internal business activities at constant currency and perimeter Liquidity available Position of cash and cash equivalents, adding available short-term undrawn credit lines (confirmed and non-confirmed) Margin Calculated as a percentage of Net revenue Net debt / Net cash Net debt = Long-term debt plus short-term debt, excluding lease liabilities, earn-out obligations and non-controlling interest buy-out obligations, minus cash and cash equivalents and amounts outstanding on loans to Vivendi SE. If Net debt is negative, then it is equivalent to Net cash Average Net Debt / Net Cash Average of the amount of net debt / net cash at the end of each month Net revenue Equal to revenues in accordance with IFRS 15 less costs rebilled to customers (consisting of pass-through costs rebilled to customers such as out of pockets costs and other third-party expenses) Scope change Contribution of perimeter variation (including M&A operations and divestments) to total growth Total Growth = YoY (Year-over-Year) Growth in net revenue over a specified period (including Organic growth, Scope change and FX change) / Year-over-year equivalent Expand Note on Operating Cash Flow before working capital: As from July 29, 2025, Havas will report its Operating Cash Flow before working capital, a non-IFRS measure defined in the above financial glossary ('OCF before WC'). This new figure will be provided going forward in addition to Free Cash Flow ('FCF' – defined as net cash provided by operating activities minus capital expenditures). Management believes OCF before WC provides more relevant information on Havas's underlying cash generation capacity compared to FCF, as OCF before WC does not take into account short-term, external or seasonal fluctuations in Havas's working capital requirements. In the first half of 2025, OCF before WC amounted to 117 million euros, up from 104 million euros in the first half of 2024. In the first half of 2025, Free Cash Flow stood at (73) million euros, compared to (99) million euros in the first half of 2024. 1 Net revenue, Adjusted EBIT and Adjusted EBIT margin are non-IFRS measures defined in the financial glossary appended to this press release. 2 Net revenue is a non-IFRS measure defined in the financial glossary appended to this press release. 3 Adjusted EBIT and Adjusted EBIT margin are non-IFRS measures defined in the financial glossary appended to this press release. 4 Net revenue is a non-IFRS measure defined in the financial glossary appended to this press release. 5 Organic growth is a non IFRS measure defined in the financial glossary appended to this press release. 6 Change in the scope of consolidation is defined in the financial glossary appended to this press release. 7 Foreign exchange rate impact is defined in the financial glossary appended to this press release. 8 Adjusted EBIT is a non-IFRS measure defined in the financial glossary appended to this press release. 9 Adjusted EBIT margin is a non-IFRS measure defined in the financial glossary appended to this press release. 10 Operating Cash flow before working capital is a non-IFRS measure defined in the financial glossary appended to this press release 11 Net cash / Net debt is a non-IFRS measure defined in the financial glossary appended to this press release. 12 Average Net debt is a non-IFRS measure defined in the financial glossary appended to this press release. 13 Liquidity available is defined in the financial glossary appended to this press release.
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First Post
28-05-2025
- Business
- First Post
Storyboard18's Marquee Nights returns - an evening of exclusive candid conversations, creativity, global insights
Storyboard18's 'Marquee Nights' returns on June 2 with an exclusive evening featuring Yannick Bolloré - global media magnate, industry visionary and one of the most influential voices shaping the future of communications read more May 28, 2025: Storyboard18's Marquee Nights is back - and this time, it promises an evening of sharp ideas and soulful stories. The invite-only series, known for its unplugged conversations with some of the world's most influential minds, returns on June 2 at The Oberoi, Gurgaon with a marquee name in global business, media and marketing: Yannick Bolloré, Chairman and CEO, Havas. From the future of creativity in an AI-powered world to the evolving business landscape between India and France, this special evening will open a rare window into the mind of one of the most visionary leaders in the global media and communications arena. It's more than a fireside chat - it is a front-row seat to the forces shaping global commerce, culture and content. STORY CONTINUES BELOW THIS AD The previous editions have seen the likes of Carl Pei, Read Hastings and William Dalrymple engage in meaningful and impactful conversations on technological innovations, streaming, newest trends in consumer technology, and much more. More from Business How Indian fintech startups are driving Malaysia's UPI-like digital payments revolution Yannick Bolloré Yannick Bolloré co-founded the production company WY Productions in 2002. In 2006, he joined his family group, the Bolloré Group, to launch and develop its media division. Within five years, Bolloré Média became a leading independent French TV group and was subsequently sold to Canal+, making the Bolloré Group a shareholder in Vivendi. He then joined Havas in 2011 and became Chief Executive Officer of Havas S.A. in 2013. Upon his arrival, he began an in-depth transformation of the group through the 'Together' strategy, making Havas the most integrated group in the industry. He also orchestrated the repositioning of the group around the mission 'Make a meaningful difference to brands, businesses and people,' for meaningful, committed and responsible communications. In June 2024, Bolloré unveiled Havas' new strategic plan, Converged, aiming to supercharge the integration of the group's expertise in creativity, media, production, and technology through a unified operating system. In December 2024, he orchestrated the group's return to the stock market, now listed on Euronext Amsterdam. STORY CONTINUES BELOW THIS AD Bolloré was appointed Chairman of the Supervisory Board of Vivendi in April 2018. In connection with the Vivendi Spin-Off, in October 2024, he was appointed Chairman of the Supervisory Board of Canal+ SA and Director of Louis Hachette Group. Bolloré was named a Young Global Leader in 2008 by the World Economic Forum. He has received numerous honors and awards from international associations and the business press. He is also a Chevalier de l'Ordre des Arts et des Lettres. Bolloré graduated from Paris-Dauphine University in 2001. So come, be part of a night where ideas are uncorked, perspectives are reshaped and the spotlight is not just on success, but the stories that built it.
News18
28-05-2025
- Business
- News18
Storyboard18's ‘Marquee Nights' On June 2: Get Set For Conversations, Creativity & Global Insights
Last Updated: Storyboard18's 'Marquee Nights' returns on June 2 featuring Yannick Bolloré -- global media magnate and one of the most influential voices shaping the future of communications Storyboard18's Marquee Nights is back — and this time, it promises an evening of sharp ideas and soulful stories. The invite-only series, known for its unplugged conversations with some of the world's most influential minds, returns on June 2 at The Oberoi, Gurgaon with a marquee name in global business, media and marketing: Yannick Bolloré, Chairman and CEO, Havas. From the future of creativity in an AI-powered world to the evolving business landscape between India and France, this special evening will open a rare window into the mind of one of the most visionary leaders in the global media and communications arena. It's more than a fireside chat — it is a front-row seat to the forces shaping global commerce, culture and content. The previous editions have seen the likes of Carl Pei, Read Hastings and William Dalrymple engage in meaningful and impactful conversations on technological innovations, streaming, newest trends in consumer technology, and much more. Yannick Bolloré Yannick Bolloré co-founded the production company WY Productions in 2002. In 2006, he joined his family group, the Bolloré Group, to launch and develop its media division. Within five years, Bolloré Média became a leading independent French TV group and was subsequently sold to Canal+, making the Bolloré Group a shareholder in Vivendi. He then joined Havas in 2011 and became Chief Executive Officer of Havas S.A. in 2013. Upon his arrival, he began an in-depth transformation of the group through the 'Together" strategy, making Havas the most integrated group in the industry. He also orchestrated the repositioning of the group around the mission 'Make a meaningful difference to brands, businesses and people," for meaningful, committed and responsible communications. In June 2024, Bolloré unveiled Havas' new strategic plan, Converged, aiming to supercharge the integration of the group's expertise in creativity, media, production, and technology through a unified operating system. In December 2024, he orchestrated the group's return to the stock market, now listed on Euronext Amsterdam. Bolloré was appointed Chairman of the Supervisory Board of Vivendi in April 2018. In connection with the Vivendi Spin-Off, in October 2024, he was appointed Chairman of the Supervisory Board of Canal+ SA and Director of Louis Hachette Group. Bolloré was named a Young Global Leader in 2008 by the World Economic Forum. He has received numerous honors and awards from international associations and the business press. He is also a Chevalier de l'Ordre des Arts et des Lettres. Bolloré graduated from Paris-Dauphine University in 2001. So come, be part of a night where ideas are uncorked, perspectives are reshaped and the spotlight is not just on success, but the stories that built it. First Published:
Yahoo
21-05-2025
- Business
- Yahoo
Bolloré : Combined General Meeting of May 21, 2025
BOLLORÉ PRESS RELEASE May 21, 2025 Combined General Meeting of May 21, 2025 All resolutions were passed with 96% of votes or more Final dividend of €0.06 to be paid on June 12, 2025 Cancellation of 22.7 million shares The Combined General Meeting of Bolloré SE was held on May 21, 2025, chaired by Cyrille Bolloré. All the resolutions presented during the Combined General Meeting of Bolloré SE were adopted with between 95.90% and 99.99% of the votes cast, representing 94.56% of the total votes. The Ordinary General Meeting approved the payment of a total dividend of €0.08 per share, up 14%, representing a final dividend of €0.06 per share after the payment of the interim dividend of €0.02 per share in September 2024. Among the resolutions put to the vote at the Combined General Meeting of May 21, 2025, the shareholders also approved the reappointment of Cyrille Bolloré, Yannick Bolloré, Cédric de Bailliencourt, Chantal Bolloré, Sébastien Bolloré, Virginie Courtin, François Thomazeau and Bolloré Participations SE as directors. The Board of Directors of Bolloré SE, which met following the Combined General Meeting, decided to cancel 22,734,942 Bolloré SE shares purchased under the share buyback program (0.80% of the share capital). The presentation shown during the General Meeting will be available on the company's website: / Shareholders / Regulated information. Attachment Communiqué AG 2025 Bolloré ENGBSign in to access your portfolio
