Havas Reports Solid Net Revenue Growth of +7.2% in Q3 2026, Driven by Organic Growth and Contribution From Acquisitions
For best results when printing this announcement, please click on link below: Havas Reports Solid Net Revenue Growth of +7.2% in Q3 2026, Driven by Organic Growth and Contribution From Acquisitions Resilient organic growth of +2.4% in Q3 2026, driven in particular by solid performance in the United States (+7.5%) Strong contribution from acquisitions: +3.2% in Q3 2026, reflecting the active strategy of acquiring bolt-on and targeted independent agencies Full-year 2026 guidance is confirmed Organic growth(1): from +2.0% to +3.0% Adjusted EBIT margin(2): from 13.2% to 13.5% Dividend payout ratio(3) of around 40% Regulatory News: Yannick Bolloré, Chairman and CEO of Havas (AEX:HAVAS), said: “Havas delivered a solid third quarter, achieving organic growth in net revenue of +2.4%, in line with our full-year guidance. This performance reflects the resilience of our client-centric model in a macroeconomic and geopolitical environment that remains uncertain. Despite this backdrop, the strength of our fundamentals, together with our ability to adapt and win new business, give us confidence in our capacity to deliver sustainable, profitable growth. We remain firmly focused on our strategic p
4%, in line with our full-year guidance. This performance reflects the resilience of our client-centric model in a macroeconomic and geopolitical environment that remains uncertain. Despite this backdrop, the strength of our fundamentals, together with our ability to adapt and win new business, give us confidence in our capacity to deliver sustainable, profitable growth. AI Operating System, investing responsibly in AI and preparing our talent for the continued transformation of our industry.
We are also continuing to bring our talent, expertise and solutions together more seamlessly across the Group, helping clients build more desirable brands and reinforcing our position as a trusted business partner. Our disciplined approach to acquisitions is further strengthening the capabilities we bring to clients while supporting growth, and we will remain active in pursuing selected opportunities that support our long-term strategy. ” For definitions of Alternative Performance Measures and non-IFRS measures, see the financial glossary appended to this press release. 8% Business Review During the third quarter of 2026, Havas recorded a solid performance.
3% to 724 million euros. 2% compared with the third quarter last year. 8% in third-quarter 2025). This satisfactory performance is attributable in particular to the Media and Creative divisions.
Havas Health was still impacted by lower launch activity in the United States, as a number of molecules did not advance to launch following Phase III trial outcomes. 2% contribution to net revenue growth, compared with the third quarter last year. This reflects the active strategy of acquiring (majority stakes) bolt-on and targeted independent agencies, from the beginning of 2026 and in late 2025.
The main contributors to the change in scope during the quarter were: - Acento (Spain), Eyesight (France), Styleheads (Germany), Archrival (United States) and SportVibes (Netherlands), agencies acquired since the beginning of 2026; - Gauly Advisors (Germany), Unnest (France), Bearded Kitten (United Kingdom), agencies acquired during the fourth quarter of 2025. 6% of contribution to the net revenue growth, compared with the same period in 2025. This is mainly due to the US dollar, British pound and Argentine peso, which evolved, more favorably, against the euro. 7% in the third quarter of 2026 compared with the same period in 2025.
Growth was supported by contributions from France, particularly in Media, as well as Spain and Poland. Performance in the United Kingdom remained challenging and a new London Village organization was implemented at the beginning of September. 0% compared with the same period in 2025. 5% compared with the same period in 2025.
This performance was driven by both the Creative and Media divisions, which continued to benefit from client budget wins secured last year. However, Havas Health remained affected by lower launch activity in the third quarter of 2026, reflecting a number of molecules that did not advance to launch following Phase III trial outcomes. 1%, compared with the same period in 2025. 7% in the third quarter, compared with the same period last year.
The region continued to be impacted by China and by the Middle East, where activity remained affected by the ongoing geopolitical conflict throughout the quarter (see “Exposure to Middle East” below). India continued to perform well. 5% for the first nine months of the year, compared with the same period in 2025. Approximately half of this decline reflected weaker activity in the Middle East, with the other half attributable to China.
India remained positive over the period. 3% organic growth compared with the same period last year. This organic performance was primarily impacted by Mexico and Peru. The strong performance of Brazil and Chile was not sufficient to offset these declines.
0%, compared with the same period in 2025.
Acquisitions Of Independent Agencies (Majority Stakes) Since the beginning of 2026, the Group has continued its strategy of bolt-on and targeted acquisitions and completed eight majority-stake acquisitions, of which: four agencies acquired in the first quarter; for further details, please refer to the first-quarter 2026 financial press release(6); three agencies acquired in the second quarter; for further details, please refer to the first-half 2026 financial press release(7); and one agency acquired in the third quarter: in July 2026, Havas acquired SportVibes, a leading Dutch sports marketing agency, strengthening Havas Play’s offering across Benelux and enhancing its sports marketing capabilities in Europe.
Havas intends to pursue its strategy of bolt-on and targeted acquisitions in the future. The strategy has delivered value, with an average of eight to ten acquisitions per year (eleven in 2025), representing approximately €40 million to €50 million of annualized net revenue. These acquisitions are generally completed at profitability levels above the Group average, making them accretive to the Group's margin profile. 75 euros per share, average share price.
61% of Louis Hachette Group share capital. 21% of Canal+ share capital. These opportunistic financial investments have no impact on Havas’ strategy, financial guidance or bolt-on acquisition policy. Havas' strategic priority remains the continued development of its business.
Liquidity Program As of October 1, 2026, Havas announces that it has initiated a program to support the liquidity of Havas’ ordinary shares. This share management program (the “Liquidity Program”) aims to support the trading and liquidity of Havas’ ordinary shares on Euronext Amsterdam. The Liquidity Program falls within the authorization granted by the Shareholders’ Meeting on May 13, 2026 (Authorization of the Board of Directors to acquire fully paid-up shares in the Company’s own share capital), has an initial period of 12 months, and is automatically renewable for successive 12-month periods. 42 per ordinary share.
65 per ordinary share. 5 million euros. As announced on September 30, 2026(8), the share buyback program was suspended upon the launch of the Liquidity Program and will remain suspended for its duration. Outlook Havas continues to operate in a macroeconomic and geopolitical environment characterized by uncertainty.
Against this backdrop, the Group remains cautious and focused on the disciplined execution of its strategy and on supporting clients across its markets. Exposure to the Middle East Havas has limited direct exposure to the Middle East. 6% of Group net revenue at the end of September 2026. The Group confirms that these events have no material impact on its financial statements.
The region continued to decline in the third quarter, notably in Saudi Arabia, reflecting the ongoing impact of the geopolitical conflict. While the direct impact on the Group remains limited, the ongoing conflict continues to impact activity in the region and creates uncertainty for other agencies serving Middle Eastern clients. Given the lack of visibility, Havas remains cautious and continues to monitor the situation closely. The Group’s mid-to-long-term growth ambitions in the region, supported by the continued development of the Creative Powerhouse, remain unchanged.
Guidance While visibility remains limited, Havas does not anticipate any significant change in market conditions in the fourth quarter and continues to assume a broadly similar operating environment through year-end. The Group enters the final months of 2026 with solid fundamentals and confidence in the resilience of its business model, while remaining mindful of the macroeconomic and geopolitical uncertainties that persist. Havas will continue to build on the strengths of its integrated and client-centric model, diversified geographic footprint, and strong client relationships. 5% compared with 2025; Dividend payout ratio of around 40%.
0%; Dividend payout ratio of around 40%. Analyst Conference Call Speaker: François Laroze, Chief Financial Officer and Chief Operating Officer. Date: October 14, 2026, at 6:00 pm Paris time — 5:00 pm London time — 12:00 pm New York time. The conference call will be held in English.
Audio webcast link and slides of the presentation will be available on the company’s website * About Havas Founded in 1835 in Paris, Havas is one of the world’s largest global communications groups, with nearly 23,000 people in over 100 countries. With the ambition to help brands unlock Growth, Powered by Desire, Havas brings together creativity, media, technology and production capabilities to build strong, desirable brands that people genuinely want to engage with. AI, the Group’s operating system that unifies data, technology and AI to deliver optimized, scalable marketing solutions across the full customer journey.
AI-driven, fueled by human ingenuity, and grounded in the belief that desire drives both brand performance and business outcomes, Havas teams collaborate within Havas Villages worldwide to cultivate reputation, relevance and long—term preference for clients. Havas is equally committed to its people, fostering inclusive, responsible and inspiring workplaces where talent can thrive, because desire also starts from within. V. and may contain inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014, as amended.
Certain statements contained herein may be forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans, expectations or objectives. Undue reliance should not be placed on forward-looking statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause the Havas Group’s actual results to differ materially from those expressed or implied in such forward-looking statements. V.
’s corporate website ( ) for a description of certain important factors, risks and uncertainties that may affect the Havas Group’s business and/or results of operations. V. undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as required by applicable laws and regulations. ’s statutory auditors.
V. in analyzing operating trends, financial performance and financial position of the Havas Group and providing investors with additional information considered useful and relevant regarding the results of the Havas Group. These alternative performance measures are not recognized measures under IFRS or any other generally accepted accounting standards, and they generally have no standardized meaning and therefore may not be comparable to similarly labelled measures used by other companies. V.
in accordance with IFRS. V. for the six-months period ended June 30, 2026. 162 on average at the end of Sept.
110 on average at the end of Sept.