Havas Reports Strong Organic Growth for the Third Quarter of 2025 and Sharpens its Full-Year 2025 Guidance Upwards

Oct. 15, 2025

Havas delivered a strong third quarter, achieving +3.8% organic growth in net revenue and demonstrating impressive commercial momentum, with notable new business wins both during the period and more recently, establishing a strong foundation for the future. Our Converged.AI strategy continues to drive measurable impact, helping clients operationalize AI across their marketing ecosystems with greater precision and efficiency. The launch of Horizon Global, our new joint venture with Horizon Media, marks a major strategic milestone, combining our strengths in a seamless, AI-native solution tailored to US-centric global client opportunities and the evolving demands of modern marketers. We remain committed to our strategic objectives and focused on scaling innovation, creativity, and performance across all markets. I want to thank our teams for their dedication and our clients for the trust they place in us.

THIRD-QUARTER 2025 HIGHLIGHTS

Acquisitions

During the third quarter of 2025, Havas continued its bolt-on acquisition strategy with the majority acquisition of Tidart, a leading independent Spanish digital performance agency. This addition strengthens Havas’ capabilities across digital, performance and e-commerce, while Tidart’s portfolio of long- and mid-tail Spanish clients complements Havas’ existing base of large-scale accounts.

Partnerships

On September 29, 2025, Havas and Horizon Media Holdings announced the formation of a new joint venture, Horizon Global, uniting two of the industry’s most respected media leaders with a combined $20 billion in global billings. Designed as an AI-native solution, Horizon Global was launched to meet the evolving needs of modern marketers. This joint venture will focus on US-centric global client opportunities. Outside of this scope, Horizon Media and Havas Media Network will continue to operate independently, servicing their respective client portfolios, pursuing new business and building their brand profiles.

SHARE BUYBACK PROGRAM

During the third quarter of 2025, Havas bought back 8,769 thousand ordinary shares for an average price of €1.5024 per ordinary share.

From the beginning of the program, on June 2, 2025, until September 30, 2025, 11,372 thousand ordinary shares were bought back for an average price of €1.5025 per ordinary share.

REVERSE SHARE SPLIT 

On October 9, 2025, Havas announced that it will implement a reverse share split at a ratio of 10 to 1, affecting all outstanding ordinary shares. This transaction, approved at the AGM on May 28, 2025, will take effect on November 18, 2025.

The number of ordinary shares will thus be divided by 10, from 991.8 million to 99.2 million, with the nominal value increasing from €0.20 to €2.

For more detailed information, a dedicated press release is available on Havas’ website, in the investor relations, regulated information section.

OUTLOOK

Backed by its robust strategic assets and its talented teams, Havas approaches the year-end with heightened confidence, while remaining cautious amid ongoing geopolitical tensions, trade pressures and political uncertainties.

Havas confirms its guidance for fiscal year 2025, and sharpens it upwards:

• Net revenue organic growth: a range of between +2.5% and +3.0% (versus previous guidance of above +2.0%);
• Adjusted EBIT margin: an improvement of around +50 basis points, equivalent to around 12.9% (versus previous guidance of between 12.5% and 13.5%);
• Dividend payout ratio of around 40% (unchanged).

The Group also confirms its medium-term financial targets for fiscal year 2028:

• Adjusted EBIT margin between 14.0% and 15.0%;
• Dividend payout ratio of around 40%.

ANALYST CONFERENCE CALL 

Speakers: François Laroze, Chief Financial Officer and Chief Operating Officer.

Date: October 14, 2025, 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 www.havas.com/investor-relations-shareholders