Havas has reported an organic net revenue hike of 3.1% to €2.78 billion (US$3.27 billion) in 2025, beating its previous growth guidance of between 2.5% and 3%.
Its adjusted profit, or Ebit, for the full year was €358 million, a margin of 12.9%, marking a 50-basis point improvement on 2024; while net income (or profit) was €210m, an 11.1% increase on 2024’s €189 million.
The full-year, better-than-expected performance was down to a strong fourth quarter in 2025. Q4 generated a net revenue of €781 million, up 3.7% on an organic basis. Total revenue for the full year was €2.91 billion.
Split by discipline, Havas Creative accounted for 40% of the group's net revenue, while, close on its heels, Havas Media accounted for 38%, and Havas Health the remaining 22%.
Across Europe (which generated 50% of net revenue), Havas recorded organic net revenue growth of 2%, but its performance was stronger on the other side of the Atlantic. In North America (34% of net revenue), it was up 4.9% and in Latin America (7% of net revenue) it grew 3.6%. APAC and Africa (9% of net revenue) experienced 1.7% growth.
The UK and France were only “slightly positive organically”, but other European markets were “more dynamic” towards the end of the year, in particular Spain, Italy and Portugal.
Looking ahead at 2026, Havas said it expects organic growth of somewhere between 2% and 3% and an adjusted Ebit margin of between 13.2% and 13.5%.
It also said it is pursuing its “bolt-on” acquisition strategy by targeting between five and 10 majority stakes in 2026. On the M&A front, Havas acquired experiential agency Bearded Kitten in Q4 2025, adding it to its own experiential offering, Havas Play. In total, it acquired majority stakes in 11 agencies over the course of 2025.
Yannick Bolloré, Havas’ chairman and chief executive, described 2025 as “transformative”, “marking our first full year as a listed company and one in which we moved forward with the rollout of our global plan and Converged.AI operating system”. He said its improved results reflected “the strength of our client-centric model and our position as the strongest challenger in a highly competitive market”.
He added: “We continued to evolve as an AI-driven organisation fuelled by human ingenuity, where technology amplifies human creativity rather than replacing it. We also expanded our capabilities with a series of strategic acquisitions across key markets and high-growth sectors, further strengthening our global footprint.”
Back in October, Havas raised its full-year guidance for 2025 on the back of a strong third-quarter net-revenue gain of 3.8% on an organic basis, to €656 million. It said then that it expected full-year organic net revenue growth of between 2.5% and 3%, up from a previous forecast of more than 2%.
For the nine months ending 30 September 2025, Havas recorded net revenue of €2 billion, a 2.2% increase on the first nine months of 2024.
Speaking to Campaign off the back of those results, Bolloré cited improved revenue growth as proof that it is performing strongly against larger rivals, while adding that he is “open” to M&A opportunities and “could be interested” in acquiring or partnering Dentsu’s international assets. He also recently told staff that Havas was not in discussions about a takeover of WPP.
Compared with the other ad groups that have reported FY2025 results, Havas’ performance sits in the middle. Dentsu reported organic net revenue growth of 0.5%, while Publicis Groupe recorded organic revenue growth of 5.6% and a record profit margin of 18.2%.
Source: Campaign UK
