Publicis Groupe: First Half 2026 Results

• Q2 net revenue organic growth at +4.8% after Q1 at +4.5%.
  • All key regions performing well with two biggest regions, U.S. and Europe, growing organically at +5.5% and +5.0% respectively
  • New record H1 headline margin rate of 17.5% up 17 basis points year-on-year¹
  • H1 new business dynamic securing circa 200 basis points of growth on a full-year basis
• Maintaining strong momentum in H2 despite tougher comparable base:
  • Raising FY'26 net revenue organic growth guidance range to +4.5% to +5% vs. +4% to 5% previously
  • Confirming slight operating margin improvement vs. industry-high rate of 18.2% in FY’25
  • Expecting free cash flow of circa €2.2 billion²

Arthur Sadoun, Chairman and CEO of Publicis Groupe:

“Publicis once again delivered a very strong first half of the year, accelerating on every front last quarter. 

Q2 organic net revenue growth reached +4.8%, ahead of Q1 and despite a tougher comparable base, further widening the gap with competition by circa 610 basis points. 

At the same time, our headline margin reached record new heights in H1, at 17.5%, even as we doubled down on investing in best-in-class capabilities, talent and AI.

Last but not least, our continued momentum in new business makes us confident in sustaining our performance for the rest of the year and beyond despite the ongoing macroeconomic difficulties. In fact, we are in a position to raise our full year organic growth guidance +4.5-5%, up from our previous range of +4-5%.

Beyond our sustained financial outperformance, H1 was also a period of accelerated investment, as we continued to demonstrate that our strategy is the polar opposite of our peers'.  Leveraging the strength of our balance sheet, we have made acquisitions in new and high-growth segments, like sports with 160over90 and data co-creation with LiveRamp, to deliver what our clients truly need: connected, agentic-driven capabilities that will enable them to grow, differentiate and lead in this AI world. It is how we are creating value for them and why we will outperform the industry once again, for the seventh year in a row. 

I’d like to thank all of our clients for their continued trust, and our people for their outstanding efforts and commitment.”

¹Before LiveRamp transaction costs. 
²Before change in working capital requirements and based on EUR = 1.155 USD.