Publicis Groupe: First Half 2024 Results
Further market share gains
Upgrading guidance
- H1 2024 net revenue organic growth of +5.4%; +7.4% on a like-for-like revenue basis
-
Stronger than expected Q2 net revenue organic growth at +5.6%
- Accelerating versus 4Y Q2 CAGR of 4.7%
- Gaining market share with c. 400 bps1 outperformance versus peer average
-
Solid performance across all regions in Q2:
-
Continued momentum in the
U.S. at +5.3% -
Robust
Europe at +4.2% on top of a high comparable -
Strong APAC at +7.7%, with
China accelerating to +10.5%
-
Continued momentum in the
- Operating margin rate at record H1 level of 17.3%, including AI investment
- Headline diluted EPS up +5.3% at €3.38, Free cash flow2 up at €744m
- Upgrading full year 2024 net revenue organic growth to +5-6% vs +4-5% previously, despite persistent macro uncertainties
- Maintaining industry-high 2024 financial KPIs: Operating margin at 18.0%, Free cash flow2 between €1.8bn-1.9bn
Q2 2024
|
€3,458m |
|
+6.8% |
|
+5.6% |
H1 2024 Results
|
H1 2024 |
2024 vs 2023 |
|
7,650 |
+7.7% |
|
6,688 |
+5.9% |
|
+5.4% |
|
|
1,160 |
+6.1% |
|
17.3% |
|
|
857 |
+5.4% |
|
3.38 |
+5.3% |
|
744 |
+2.6% |
_________________________________
1 Based on consensus
2 Before change in working capital requirements
“Publicis achieved a very strong first half of the year, with net revenue organic growth at +5.4% and +7.4% growth on a like-for-like revenue basis.
We continued to win market share, with Q2 net revenue organic growth accelerating to +5.6%, above expectations and 400bps ahead of our industry.
For the first 6 months of the year, we kept delivering industry leading financial KPIs.
Despite a backdrop of ongoing macro-economic pressures, not only did our H1 performance demonstrate that our model is strong. It also showed that our outperformance versus our peers is sustainable, with our growth rate close to doubling that of our competitors since 2019.
As a result, we are confident in our ability to accelerate further in H2.
We are raising our net revenue organic growth guidance and now expect to deliver between +5-+6%. We will maintain our best-in-class financial ratios while continuing to make material investments in our talent and AI strategy.
As we further extract ourselves from the pack, we have everything we need to continue to lead and reinvent our industry thanks to our transformation.
We have a winning go to market, which has put us at the head of the new business rankings for the past five years. We have taken the leadership of personalization at scale, demonstrated by our combined Data and Media offering’s double-digit growth this quarter, for the third year in a row. And thanks to Publicis Sapient, we are uniquely positioned to partner with our clients in their AI-led transformation.
I would like to take this opportunity to thank all of our clients for their trust. I would also like to thank our people around the world for their outstanding work. Sustaining these levels of outperformance in such a difficult environment is an everyday battle and with the Executive Committee we are truly grateful for all of their efforts.”
The Publicis Board of Directors met on
EUR million, except per-share data and percentages |
H1 2024 |
H1 2023 |
2024 vs 2023 |
Data from the Income statement and Cash flow statement |
|
|
|
Net revenue |
6,688 |
6,318 |
+5.9% |
Pass-through revenue |
962 |
787 |
+22.2% |
Revenue |
7,650 |
7,105 |
+7.7% |
EBITDA |
1,401 |
1,335 |
+4.9% |
% of net revenue |
20.9% |
21.1% |
-20bps |
Operating margin |
1,160 |
1,093 |
+6.1% |
% of net revenue |
17.3% |
17.3% |
0bps |
Operating income |
1,008 |
843 |
+19.6% |
Net income attributable to the Groupe |
773 |
623 |
+24.1% |
Earnings per share (EPS) |
3.08 |
2.48 |
+24.2% |
Headline diluted EPS3 |
3.38 |
3.21 |
+5.3% |
Free cash flow before change in working capital requirements |
744 |
725 |
+2.6% |
Data from the Balance sheet |
|
|
|
Total assets |
35,918 |
36,716 |
|
Groupe share of Shareholders’ equity |
9,916 |
9,788 |
|
Net debt (net cash) |
99 |
(909) |
_________________________________
3 Net income attributable to the Groupe, after elimination of impairment charges, amortization of intangibles arising on acquisitions, the main capital gains (or losses) on disposals, change in the fair value of financial assets, the revaluation of earn-out costs, divided by the average number of shares on a diluted basis
NET REVENUE IN Q2 2024
Publicis Groupe’s net revenue in Q2 2024 was
Breakdown of Q2 2024 net revenue by region
EUR |
Net revenue |
Reported |
Organic |
|
million |
Q2 2024 |
Q2 2023 |
growth |
growth |
|
2,104 |
1,955 |
+7.6% |
+5.2% |
|
856 |
809 |
+5.8% |
+4.2% |
|
306 |
300 |
+2.0% |
+7.7% |
|
100 |
91 |
+9.9% |
+9.1% |
|
92 |
84 |
+9.5% |
+18.9% |
Total |
3,458 |
3,239 |
+6.8% |
+5.6% |
Net revenue in
Net revenue in
In
Net revenue in
NET REVENUE IN H1 2024
Publicis Groupe’s net revenue for the first half of 2024 was
Breakdown of H1 2024 net revenue by sector | |
Automotive |
15% |
Healthcare |
15% |
Financial |
13% |
Food and beverage |
13% |
TMT |
13% |
Non Food consumer products |
11% |
Retail |
9% |
Public sectors & Others |
4% |
Leisure & travel |
4% |
Energy & Manufacturing |
3% |
On the basis of 3,266 main clients representing 92% of Groupe net revenue
Breakdown of H1 2024 net revenue by region
EUR |
Net revenue |
Reported |
Organic |
|
million |
H1 2024 |
H1 2023 |
growth |
growth |
|
4,112 |
3,893 |
+5.6% |
+5.0% |
|
1,649 |
1,552 |
+6.3% |
+5.1% |
|
572 |
550 |
+4.0% |
+7.0% |
|
190 |
179 |
+6.1% |
+6.6% |
|
165 |
144 |
+14.6% |
+14.0% |
Total |
6,688 |
6,318 |
+5.9% |
+5.4% |
Net revenue in
Net revenue in the
ANALYSIS OF H1 2024 KEY FIGURES
Income statement
EBITDA amounted to
Personnel costs totaled
Non personel costs amounted to
-
Other operating expenses (excluding pass-through costs, depreciation & amortization) amounted to
789 million euros , compared to783 million euros in H1 2023. They represent 11.8% of net revenue, compared to 12.4% in H1 2023, reflecting solid cost control. -
Depreciation and amortization charge was
241 million euros in H1 2024, stable compared to242 million euros in H1 2023.
As a result, the operating margin amounted to
Operating margin rates by geographies were 18.7% in
Amortization of intangibles arising from acquisitions totaled
Impairment losses amounted to
In addition, non-current expense was an income of
Operating income totaled
The financial result, comprising the cost of net financial debt and other financial charges and income, was at
-
The cost of net financial debt was an income of
39 million euros in H1 2024, compared to an income of42 million euros in H1 2023. In H1 2024, it included61 million euros of financial expenses (59 million euros in H1 2023) and financial income of100 million euros , broadly stable versus last year. -
Other financial income and expenses were a charge of
39 million euros in H1 2024, notably composed by42 million euros interest on lease liabilities and7 million euros income from the fair value remeasurement of mutual funds. In H1 2023, other financial income and expenses were a charge of56 million euros , notably composed by39 million euros interest on lease liabilities and8 million euros cost from the fair value remeasurement of Mutual Funds.
The revaluation for earn-outs payments was an income of
The income
tax charge was
The share of profit of associates is a
Minority interests were a gain of
Overall, net income attributable to the Groupe was
Finally the earning per share was
Free cash flow
EUR million |
H1 2024 |
H1 2023 |
|
EBITDA |
1,401 |
1,335 |
|
Repayment of lease liabilities and related interests |
(224) |
(207) |
|
Investments in fixed assets (net) |
(118) |
(75) |
|
Financial interest paid (net) |
13 |
17 |
|
Tax paid |
(376) |
(386) |
|
Other |
48 |
41 |
|
Free cash flow before changes in WCR |
744 |
725 |
The Groupe’s free cash flow, before change in working capital requirements, is up by
Repayment of lease liabilities and related interests amounted to
Net investments in fixed assets were
Financial interest were an income of
Tax paid amounted to
Net debt
Net financial debt amounted to
ACQUISITIONS
On
On
On
CSR
In
GOVERNANCE
The Combined General Shareholder’s meeting of
The Board of Directors, which met following the General Meeting, agreed to combine the roles of Chairman and Chief Executive Officer, appointing Mr.
Mrs. Élisabeth Badinter was appointed Vice-Chair of the Board of Directors.
Mr. Maurice Lévy has taken on the role of Chairman Emeritus of
Mr.
All the proposed amendments to the Articles of Incorporation were approved, as was the extension of the Company’s term.
POST-REPORTING PERIOD EVENTS
On
OUTLOOK
After a better than expected first half of 2024, which demonstrated the strength of the Groupe’s model and the sustainability of its industry outperformance, the Groupe is confident in its potential to accelerate further on organic growth in the second half of the year, and upgrades its organic growth guidance for the full year 2024 despite ongoing macroeconomic uncertainties.
The Groupe now aims for +5% to +6% organic growth for the full year, compared to +4% to +5% previously.
The bottom-end of the guidance at +5% is the new floor in the current macroeconomic environment, factoring in continued delays in clients’ digital business transformation projects and reduced spend in classic advertising.
The top-end of the guidance at +6% is the new stretch, assuming an improved macroeconomic context, which would lead to resumed spend on digital business transformation projects, fewer reductions in classic advertising and some positive impact from increased client budgets in the fourth quarter.
The Groupe also confirms its 2024 guidance on financial ratios, which will be maintained at the industry-leading levels of 18% operating margin rate and between 1.8 and
Disclaimer
Certain information contained in this document, other than historical information, may constitute forward-looking statements or unaudited financial forecasts. These forward-looking statements and forecasts are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These forward-looking statements and forecasts are presented at the date of this document and, other than as required by applicable law,
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Appendices
Net revenue: organic growth calculation
(million euro) |
Q1 |
Q2 |
H1 |
Impact of currency
|
||
2023 net revenue |
3,079 |
3,239 |
6,318 |
GBP (2) |
15 |
|
Currency impact (2) |
(29) |
13 |
(16) |
USD (2) |
(1) |
|
2023 net revenue at 2024 exchange rates (a) |
3,050 |
3,252 |
6,302 |
Others |
(30) |
|
2024 net revenue before acquisition impact (b) |
3,212 |
3,433 |
6,645 |
Total |
(16) |
|
Net revenue from acquisitions (1) |
18 |
25 |
43 |
|||
2024 net revenue |
3,230 |
3,458 |
6,688 |
|||
Organic growth (b/a) |
+5.3% |
+5.6% |
+5.4% |
|
(1) |
Acquisitions (Spinnaker SCA, Practia, Corra, AKA Asia, ARBH, |
(2) |
EUR = |
EUR = |
Definitions
Net revenue or Revenue less pass-through costs: Pass-through costs mainly concern production and media activities, as well as various expenses incumbent on clients. These items that can be re-billed to clients do not come within the scope of assessment of operations, net revenue is a more relevant indicator to measure the operational performance of the Groupe’s activities.
Organic growth: Change in net revenue excluding the impact of acquisitions, disposals and currencies.
Like-for-like growth: Growth at current year exchange rates and current perimeter, including organic growth coming from acquisitions since the acquisition date.
4Y CAGR organic growth: Calculated as: ( [1 + organic growth (n-4)]*[1 + organic growth (n-3)]*[1 + organic growth (n-2)]*[1 + organic growth (n-1)] )^(1/4) - 1.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization): Operating margin before depreciation & amortization.
Operating margin: Revenue after personnel costs, other operating expenses (excl. non-current income and expense) and depreciation (excl. amortization of intangibles arising on acquisitions).
Operating margin rate: Operating margin as a percentage of net revenue.
Headline Group Net Income: Net income attributable to the Groupe, after elimination of impairment charges / real estate transformation expenses, amortization of intangibles arising on acquisitions, the main capital gains (or losses) on disposals, change in the fair value of financial assets and the revaluation of earn-out costs.
EPS (Earnings per share): Group net income divided by average number of shares, not diluted.
EPS, diluted (Earnings per share, diluted): Group net income divided by average number of shares, diluted.
Headline EPS, diluted (Headline Earnings per share, diluted): Headline group net income, divided by average number of shares, diluted.
Capex: Net acquisitions of tangible and intangible assets, excluding financial investments and other financial assets.
Free cash flow before changes in working capital requirements: Net cash flow from operating activities less interests paid & received, repayment of lease liabilities & related interests and before changes in WCR linked to operating activities.
Free cash flow: Net cash flow from operating activities less interests paid & received, repayment of lease liabilities & related interests.
Net debt (or financial net debt): Sum of long and short financial debt and associated derivatives, net of treasury and cash equivalents, excluding lease liability since 1st
Average net debt: Last twelve month average of monthly net debt at end of month.
Dividend pay-out: Dividend per share / Headline diluted EPS.
Consolidated income statement
(in millions of euros) |
(6 months) |
(6 months) |
(12 months) |
||
Net revenue (*) |
6,688 |
6,318 |
13,099 |
||
Pass-through revenue |
962 |
787 |
1,703 |
||
Revenue |
|
7,650 |
7,105 |
14,802 |
|
Personnel costs Other operating costs |
|
(4,498) (1,751) |
(4,200) (1,570) |
(8,514) (3,443) |
|
Operating margin before depreciation & amortization |
|
1,401 |
1,335 |
2,845 |
|
Depreciation and amortization (excluding intangibles from acquisitions) |
|
(241) |
(242) |
(482) |
|
Operating margin |
|
1,160 |
1,093 |
2,363 |
|
Amortization of intangibles from acquisitions |
(123) |
(142) |
(268) |
||
Impairment loss |
(45) |
(112) |
(153) |
||
Other non-current income and expenses |
16 |
4 |
(202) |
||
|
|
1 434 |
|||
Operating income |
1,008 |
843 |
1,740 |
||
Financial expense Financial income Cost of net financial debt Other financial income and expenses Revaluation of earn-out payments |
(61) 100 39 (39) 28 |
(59) 101 42 (56) 1 |
(120) 198 78 (99) 12 |
||
Pre-tax income of consolidated companies |
1,036 |
830 |
1,731 |
||
Income taxes |
(256) |
(205) |
(415) |
||
Net income of consolidated companies |
780 |
625 |
1,316 |
||
Share of profit of associates |
(3) |
3 |
6 |
||
Net income |
777 |
628 |
1,322 |
||
Of which: |
|||||
- Net income attributable to non-controlling interests |
4 |
5 |
10 |
||
Net income attributable to equity holders of the parent company |
773 |
623 |
1,312 |
||
Per share data (in euros) - Net income attributable to equity holders of the parent company |
|
|
|
|
Number of shares |
|
250,711,640 |
250,829,338 |
250,706,485 |
Earnings per share |
|
3.08 |
2.48 |
5.23 |
|
|
|
|
|
Number of diluted shares |
|
253,302,880 |
253,618,058 |
253,999,363 |
Diluted earnings per share |
|
3.05 |
2.46 |
5.17 |
(*) Net revenue: Revenue less pass-through costs. Those costs are mainly production & media costs and out-of-pocket expenses. As these items that can be passed on to clients are not included in the scope of analysis of transactions, the net revenue indicator is the most appropriate for measuring the Groupe’s operational performance.
Consolidated statement of comprehensive income
(in millions of euros) |
|
(6 months) |
(6 months) |
(12 months) |
Net income for the period (a) |
|
777 |
628 |
1,322 |
|
|
|
|
|
Comprehensive income that will not be reclassified to income statement |
|
|
|
|
- Actuarial gains (and losses) on defined benefit plans |
|
18 |
(6) |
12 |
- Deferred taxes on comprehensive income that will not be reclassified to income statement |
|
(4) |
2 |
(3) |
Comprehensive income that may be reclassified to income statement |
|
|
|
|
- Remeasurement of hedging instruments |
|
19 |
13 |
34 |
- Consolidation translation adjustments |
|
239 |
(217) |
(390) |
Total other comprehensive income (b) |
|
272 |
(208) |
(347) |
|
|
|
|
|
Total comprehensive income for the period (a) + (b) |
|
1,049 |
420 |
975 |
Of which: |
|
|
|
|
- Comprehensive income for the period attributable to non-controlling interests |
|
4 |
(2) |
4 |
- Comprehensive income for the period attributable to equity holders of the parent company |
|
1,045 |
422 |
971 |
Consolidated balance sheet
(in millions of euros) |
|
|
|
Assets |
|
|
|
|
|
12,812 |
12,422 |
Intangible assets, net |
|
901 |
958 |
Right-of-use assets related to leases |
|
1,640 |
1,614 |
Property, plant and equipment, net |
|
591 |
596 |
Deferred tax assets |
|
173 |
212 |
Investments in associates |
|
80 |
46 |
Other financial assets |
|
316 |
316 |
Non-current assets |
|
16,513 |
16,164 |
Inventories and work-in-progress |
|
482 |
341 |
Trade receivables |
|
12,883 |
13,400 |
Contract assets |
|
1,860 |
1,297 |
Other receivables and current assets |
|
1,098 |
1,264 |
Cash and cash equivalents |
|
3,082 |
4,250 |
Current assets |
|
19,405 |
20,552 |
|
|
|
|
Total assets |
|
35,918 |
36,716 |
Equity and liabilities |
|
|
|
Share capital |
|
102 |
102 |
Additional paid-in capital and retained earnings, Groupe share |
|
9,814 |
9,686 |
Equity attributable to holders of the parent company – Groupe share |
|
9,916 |
9,788 |
Non-controlling interests (minority interests) |
|
(41) |
(40) |
Total equity |
|
9,875 |
9,748 |
Long-term borrowings |
|
1,650 |
2,462 |
Long-term lease liabilities |
|
1,990 |
1,992 |
Deferred tax liabilities |
|
63 |
98 |
Pension commitments and other short-term benefits |
|
260 |
265 |
Long-term provisions |
|
365 |
319 |
Non-current liabilities |
|
4,328 |
5,136 |
Trade payables |
|
15,953 |
17,077 |
Contract liabilities |
|
481 |
513 |
Short-term borrowings |
|
1,382 |
726 |
Short-term lease liabilities |
|
372 |
360 |
Income taxes payable |
|
302 |
378 |
Pension commitments and other short-term benefits |
|
24 |
21 |
Short-term provisions |
|
207 |
255 |
Other creditors and current liabilities |
|
2,994 |
2,502 |
Current liabilities |
|
21,715 |
21,832 |
|
|
|
|
Total equity and liabilities |
|
35,918 |
36,716 |
Consolidated statement of cash flows
(in millions of euros) |
(6 months) |
(6 months) |
(12 months) |
|
Cash flow from operating activities |
|
|
|
|
Net income |
|
777 |
628 |
1,322 |
Neutralization of non-cash income and expenses: |
|
|
|
|
Income taxes |
|
256 |
205 |
415 |
Cost of net financial debt |
|
(39) |
(42) |
(78) |
Capital losses (gains) on disposal of assets (before tax) |
|
(16) |
(2) |
(1) |
Depreciation, amortization and impairment losses |
|
409 |
496 |
903 |
Share-based compensation |
|
46 |
41 |
85 |
Other non-cash income and expenses |
|
12 |
51 |
79 |
Share of profit of associates |
|
3 |
(3) |
(6) |
Dividends received from associates |
|
1 |
2 |
7 |
Taxes paid |
|
(376) |
(386) |
(669) |
Change in working capital requirements |
|
(1,629) |
(1,053) |
(9) |
Net cash flows generated by (used in) operating activities (I) |
|
(556) |
(63) |
2,048 |
Cash flow from investing activities |
|
|
|
|
Purchases of property, plant and equipment and intangible assets |
|
(120) |
(75) |
(180) |
Disposals of property, plant and equipment and intangible assets |
|
2 |
- |
2 |
Purchases of investments and other financial assets, net |
|
12 |
(10) |
13 |
Acquisitions of subsidiaries |
|
(229) |
(158) |
(194) |
Disposals of subsidiaries |
|
- |
- |
11 |
|
|
|
|
|
Net cash flows generated by (used in) investing activities (II) |
|
(335) |
(243) |
(348) |
Cash flow from financing activities |
|
|
|
|
Dividends paid to holders of the parent company |
|
- |
- |
(726) |
Dividends paid to non-controlling interests |
|
(9) |
(7) |
(9) |
Proceeds from new borrowings |
|
- |
4 |
5 |
Repayment of borrowings |
|
(5) |
- |
(502) |
Repayment of lease liabilities |
|
(182) |
(168) |
(344) |
Interest paid on lease liabilities |
|
(42) |
(39) |
(79) |
Interest paid |
|
(85) |
(86) |
(99) |
Interest received |
|
98 |
103 |
192 |
Buy-outs of non-controlling interests |
|
(7) |
(2) |
(4) |
Net (buybacks)/sales of treasury shares and warrants |
|
(119) |
(193) |
(189) |
Net cash flows generated by (used in) financing activities (III) |
|
(351) |
(388) |
(1,755) |
Impact of exchange rate fluctuations (IV) |
|
74 |
(239) |
(311) |
Change in consolidated cash and cash equivalents (I + II + III + IV) |
|
(1,168) |
(933) |
(366) |
Cash and cash equivalents on |
|
4,250 |
4,616 |
4,616 |
Bank overdrafts on |
|
(1) |
(1) |
(1) |
Net cash and cash equivalents at beginning of year (V) |
|
4,249 |
4,615 |
4,615 |
Cash and cash equivalents at closing date |
|
3,082 |
3,682 |
4,250 |
Bank overdrafts at closing date |
|
(1) |
- |
(1) |
Net cash and cash equivalents at closing date (VI) |
|
3,081 |
3,682 |
4,249 |
Change in consolidated cash and cash equivalents (VI - V) |
|
(1,168) |
(933) |
(366) |
Consolidated statement of changes in equity
Number of outstanding shares |
(in millions of euros) |
Share capital |
Additional paid-in capital |
Reserves and earnings brought forward |
Translation r eserve |
Fair value reserve |
Equity attributable to equity holders of the parent company |
Non-controlling interests |
Total equity |
|
250,574,493 |
|
102 |
3,336 |
6,633 |
(299) |
16 |
9,788 |
(40) |
9,748 |
|
|
Net income |
|
|
773 |
|
|
773 |
4 |
777 |
|
|
Other comprehensive income, net of tax |
|
|
14 |
239 |
19 |
272 |
- |
272 |
|
|
Total income and expenses for the period |
|
|
787 |
239 |
19 |
1,045 |
4 |
1,049 |
|
- |
Dividends |
|
(53) |
(800) |
|
|
(853) |
(9) |
(862) |
|
- |
Share-based compensation, net of tax |
|
|
60 |
|
|
60 |
|
60 |
|
|
Effect of acquisitions and commitments to buy-out non-controlling interests |
|
|
(5) |
|
|
(5) |
4 |
(1) |
|
- |
Equity warrant exercise |
|
|
- |
|
|
- |
|
- |
|
416,958 |
(Buybacks)/Sales of treasury shares |
|
|
(119) |
|
|
(119) |
|
(119) |
|
250,991,451 |
|
102 |
3,283 |
6,556 |
(60) |
35 |
9,916 |
(41) |
9,875 |
Number of outstanding shares |
(in millions of euros) |
Share capital |
Additional paid-in capital |
Reserves and earnings brought forward |
Translation reserve |
Fair value reserve |
Equity attributable to equity holders of the parent company |
Non-controlling interests |
Total equity |
|
251,992,065 |
|
102 |
4,037 |
5,324 |
85 |
87 |
9,635 |
(35) |
9,600 |
|
|
Net income |
|
|
623 |
|
|
623 |
5 |
628 |
|
|
Other comprehensive income, net of tax |
|
|
|
(210) |
9 |
(201) |
(7) |
(208) |
|
|
Total income and expenses for the period |
0 |
0 |
623 |
(210) |
9 |
422 |
(2) |
420 |
|
- |
Dividends |
|
(701) |
(25) |
|
|
(726) |
(7) |
(733) |
|
- |
Share-based compensation, net of tax |
|
|
50 |
|
|
50 |
|
50 |
|
|
Effect of acquisitions and commitments to buy-out non-controlling interests |
|
|
1 |
|
|
1 |
0 |
1 |
|
- |
Equity warrant exercise |
|
|
0 |
|
|
0 |
|
0 |
|
(1,490,149) |
(Buybacks)/Sales of treasury shares |
|
|
(194) |
|
|
(194) |
|
(194) |
|
250,501,916 |
|
102 |
3,336 |
5,779 |
(125) |
96 |
9,188 |
(44) |
9,144 |
Earnings per share (basic and diluted)
(in millions of euros, except for share data) |
|
|
|
Net income used for the calculation of earnings per share |
|
|
|
Net income share attributable to equity holders of the parent company |
A |
773 |
623 |
Impact of dilutive instruments: |
|
|
|
- Savings in financial expenses related to the conversion of debt instruments, net of tax |
|
- |
- |
Net income – Groupe share – diluted |
B |
773 |
623 |
Number of shares used to calculate earnings per share |
|
|
|
Number of shares at |
|
254,311,860 |
254,311,860 |
Shares created over the period |
|
- |
- |
|
|
(3,600,220) |
(3,482,522) |
Average number of shares used for the calculation |
C |
250,711,640 |
250,829,338 |
Impact of dilutive instruments: |
|
|
|
- Free shares and dilutive stock options |
|
2,591,240 |
2,788,720 |
- Equity warrants (BSA) |
|
- |
- |
Number of diluted shares |
D |
253,302,880 |
253,618,058 |
(in euros) |
|
|
|
Earnings per share |
A/C |
3.08 |
2.48 |
|
|
|
|
Diluted earnings per share |
B/D |
3.05 |
2.46 |
Headline earnings per share (basic and diluted)
(in millions of euros, except for share data) |
|
|
|
Net income used to calculate headline earnings per share(1) |
|
|
|
Net income – Groupe share |
|
773 |
623 |
Items excluded: |
|
|
|
- Amortization of intangibles from acquisitions, net of tax |
|
92 |
105 |
- Impairment loss, net of tax |
|
34 |
83 |
- Revaluation of earn-out payments |
|
(28) |
(1) |
- Main capital gains and losses on disposal of assets and fair value adjustment of financial assets, net of tax(2) |
|
(14) |
3 |
Headline Groupe net income |
E |
857 |
813 |
Impact of dilutive instruments: |
|
|
|
- Savings in financial expenses related to the conversion of debt instruments, net of tax |
|
- |
- |
Headline Groupe net income, diluted |
F |
857 |
813 |
|
|
|
|
Number of shares used to calculate earnings per share |
|
|
|
Number of shares at |
|
254,311,860 |
254,311,860 |
Shares created over the period |
|
- |
- |
|
|
(3,600,220) |
(3,482,522) |
Average number of shares used for the calculation |
C |
250,711,640 |
250,829,338 |
Impact of dilutive instruments: |
|
|
|
- Free shares and dilutive stock options |
|
2,591,240 |
2,788,720 |
- Equity warrants (BSA) |
|
- |
- |
Number of diluted shares |
D |
253,302,880 |
253,618,058 |
(in euros) |
|
|
|
Headline earnings per share(1) |
E/C |
3.42 |
3.24 |
|
|
|
|
Headline earnings per share – diluted(1) |
F/D |
3.38 |
3.21 |
(1) |
EPS after elimination of impairment losses, amortization of intangibles from acquisitions, the main capital gains and losses on disposal and fair value adjustment of financial assets and revaluation of earn-out payments. |
(2) |
As of |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240717724274/en/
Corporate Communications
+ 33 1 44 43 70 75
amy.hadfield@publicisgroupe.com
Investor Relations
+ 33 1 44 43 74 88
jean-michel.bonamy@publicisgroupe.com
Lorène Fleury
Investor Relations
+ 33 1 44 43 57 24
lorene.fleury@publicisgroupe.com
Investor Relations
+ 33 1 44 43 74 21
maxine.miller@publicisgroupe.com
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