PARIS (Reuters) – Publicis raised its annual forecast on Thursday after a robust first half marked by growth in its main markets and the continued transformation of its activities.
The communications group reported earnings before interest, tax, depreciation and amortization (EBITDA) up 3.7% to 1.335 billion euros in the first six months of the year.
Publicis has raised all of its objectives for the year 2023 despite “persistent macroeconomic uncertainties”.
The group now expects organic growth of around 5% this year, the upper end of the range set between 3% and 5%.
It also anticipates an operating margin rate close to 18%, against 17.5% to 18% previously, and a free cash flow before working capital requirement of at least 1.6 billion euros, against around 1.6 billion euros previously.
Asked about the possible interest of Vincent Bolloré, Vivendi’s controlling shareholder, for Publicis, Arthur Sadoun, chairman of the group’s management board, told Reuters: “Independence is in our DNA”.
Publicis saw its digital and data-driven businesses, Sapient and Epsilon, grow, with the two entities generating a third of the group’s revenue.
(Report Olivier Sorgho and Stéphanie Hamel, Stéphanie Hamel, edited by Bertrand Boucey)
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