By Adria Calatayud
Vivendi's Havas advertising business expects to report flat organic net revenue growth at best this year and is targeting a return to growth for next year.
Havas, which is in the process of being spun out of Vivendi as part of a four-way split of the French media group, expects organic net revenue to range from a 1% fall to a flat performance in 2024 compared with last year, its parent company said Monday.
For the first nine months of the year, Havas reported a 0.8% decline in organic net revenue.
Havas is targeting organic net revenue growth in excess of 2% in 2025, Vivendi said.
The unit's adjusted earnings before interest and taxes are expected to exceed 330 million euros ($347.8 million) this year, Vivendi said. In 2025, Havas anticipates an adjusted EBIT margin of between 12.5% and 13.5%.
Vivendi said Havas plans regular dividend payments, with a 2025 payout that is expected to amount to 40% of the unit's net profit for 2024.
Havas is due to be listed on Euronext Amsterdam on Dec. 16, subject to approval by Vivendi's shareholders.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
November 18, 2024 02:16 ET (07:16 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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