Publicis Groupe: First Half 2025 Results

• Stronger-than-expected Q2 with +10% revenue growth, leading to +5.9% net revenue organic growth
  • Accelerating ahead of +4.9% 5-year CAGR for Q2
  • Gaining significant market share with record new business wins
• Strong performance across all regions in Q2: U.S. +5.3%, Europe +4.6%, APAC +5.7%
• Increased operating margin rate at new record 17.4% in H1, while sustaining significant investments
• Headline diluted EPS up 3.8% at €3.51, free cash flow¹ up 11.3% at €828 million
• Upgrading full year 2025 organic growth to close to +5%, thanks to industry-leading net new business wins, and despite challenging macroeconomic environment
• Maintaining industry-high financial KPIs in 2025: operating margin rate slightly above 18.0%, free cash flow¹ at c. €1.9 billion

Arthur Sadoun, Chairman and CEO of Publicis Groupe: 

“In a tough macroeconomic environment, Publicis had a very strong Q2 ahead of expectations. We delivered +10% revenue growth, leading to +5.9% net revenue organic growth, and an outperformance versus competition once again, of 800 basis points. 

With H1 organic growth at +5.4% we continued to make material market share gains.

At the same time we improved our already industry-leading margin to 17.4% in H1, while making significant investments in our people and our capabilities.  

Despite the ongoing uncertainty of the global context, our unprecedented new business run of over a dozen material wins in the first six months of 2025 means we are raising our organic growth guidance to close to +5% for the full year, up from our previous +4-5% range. 

Now, in what is a particularly disrupted industry, we are looking ahead to the rest of the year and beyond with confidence and a single focus: executing on our strategy. We are uniquely positioned to continue to win market share by bringing clients the immediate business solutions they need to grow in an uncertain global context. We are reinforcing our status as a Category of One with a targeted M&A strategy to further accelerate on AI-led capabilities. And we will continue to invest to attract and retain the best talent in the industry.

I’d like to thank our outstanding teams for their efforts in a challenging business landscape, and our clients for their trust.”
 

¹Before change in working capital requirements