Havas Group posted organic revenue growth of 6.8% for full-year 2022. In the fourth quarter organic growth (which excludes M&A and currency impact) slowed to 2.3%.

Total net revenues for the year were 2.59 billion euros (approximately $2.47 billion), up 15.8%.

By region, Europe and North America were the biggest contributors to growth (7.6% and 5.2% respectively) for the year. Asia Pacific grew by 5.8% and Latin America posted a gain of 13.6%.

Pretax earnings for the year after restructuring charges were 286 million euros, up 20%. Profit margin for the year reached 11% up from 10.7% in 2021. The firm noted that the margin increase was achieved despite lower organic growth and a significant increase in payroll costs.

The company said all three Havas divisions—creative, media and health—posted strong results without citing specifics.

No guidance on growth was provided for 2023. The Havas figures were posted Wednesday as part of parent company Vivendi’s full-year earnings announcement.

Yannick Bollore is chairman of Vivendi’s supervisory board and leads Havas Group as CEO. His brother Cyrille Bollore leads Bollore Group as CEO and is also on Vivendi’s supervisory board. Another brother, Sebastien, a videogame entrepreneur, is expected to be appointed to the supervisory board at Vivendi’s upcoming general meeting. Vincent Bollore (father of the three brothers) is stepping down from his role as a non-voting member of the board.

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