Havas Shares Climb on Strong New Business Pipeline

Organic net revenue for the Paris-based firm grew by 2.5% in the second quarter, mirroring the pace set in the first three months of the year. During an analyst call, Chairman and Chief Executive Yannick Bollore noted that while it remains premature to issue specific organic growth guidance for next year, the current volume of offensive and defensive pitches provides clear visibility into long-term targets.

The group is currently balancing a shifting client roster. Recent successes, including new assignments and renewals with brands such as Skechers and Vinted, help offset the loss of the Sanofi U.S. media account. Analysts at Berenberg noted that the company’s ability to secure new business through its Horizon Global joint venture is expected to compensate for recent churn. Havas continues to project full-year organic net revenue growth between 2% and 3%.