Vivendi's Havas Expects Organic Revenue to Be Flat at Best This Year

Dow Jones

Nov 18, 2024

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)

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