PARIS, February 11 /PRNewswire-FirstCall/ --
- Revenue EUR 4,704 million +0.7%
Excluding exchange rate impact (1) 4,953 million +6.0%
- Organic growth +3.8%
- Operating margin EUR 785 million +0.8%
Excluding exchange rate impact (1) 830 million +6.5%
- Operating margin rate 16.7%
- Net income (Groupe share) EUR 447 million
- Free cash flow EUR 639 million +4.0%
Excluding exchange rate impact (1) 654 million +6.0%
- Diluted Headline(2) EPS EUR 2.22 +5.0%
- Net debt to equity ratio 0.29
- Dividend (3) EUR 0.60
(1) 2008 at 2007 exchange rate
(2) Before amortization of intangibles arising on acquisitions,
impairment and real estate disposal
(3) Subject to approval at Shareholders' Meeting on 9 June 2009
Maurice Levy, Chairman and CEO of Publicis Groupe, states:
"2008 will remain in all memories as the one of the deepest systemic crisis of the financial world. We will leave to the economists and historians to explain it. Today we are confronted with the very first global crisis affecting all economies in various ways. Some sectors, financial, real-estate or the automotive industry have already been severely damaged. However a credit-crunch could very negatively impact other sectors of the economy.
This year has also been the year of the American elections, the Olympic Games and the European football cup which traditionally guarantee an excellent year for the advertising industry. But our industry has not been immune to the crisis with a negative fourth quarter.
In this extremely difficult environment, Publicis Groupe has achieved good results, and I thank very warmly all our teams throughout the world, who have successfully been able to provide our clients with creative, efficient and effective solutions.
A series of good figures testify to the relevance of our strategic choices that bear promises for the future: 3.8% organic growth for the year, although it slowed in the fourth quarter, continuation of the operating margin at its record level, 16.7%, strong cash generation and new business worth more than five billion dollars, which again put us at number one in the world.
A fundamental factor in our success has been the Groupe's expectation concerning the change, particularly in emerging economies, and the accelerated development of digital communication. These choices are now decisive in the existing environment and are core to the Publicis Groupe offer already recognized as one of the most attractive.
Mature economies going into recession, the first signs of a slowdown in emerging economies, the change in social issues with serious unemployment, and the change in consumption habits, have defined the configuration in which we all will have to evolve, forced to adapt quickly.
To this effect, the permanent optimisation of our organisations and our structures, along the lines with the creation of VivaKi, the rigorous management of our costs and the ongoing debt reduction and simplification of our balance sheet, give us solidity and significant resources to face 2009, one of the most difficult years that the world has had to endure for decades.
Our agility and spirit of innovation have enabled us to continuously adapt our organizations and structures. Everybody's objective, starting with the management, the Management Board and the P12, is to come out of this crisis stronger and more robust. We are entering 2009 with great serenity and serious-minded, ready to provide our clients with the most innovative, the most creative and the most effective solutions. This is the year to win market share and consolidate our margins."
Maurice Levy, Chairman and CEO, presented the financial statements and management report for 2008 to the Supervisory Board of Publicis Groupe at its meeting chaired by Elisabeth Badinter on 10 February 2009.
Key figures
in EUR million, except for 2008 2007 Variation
percentages and per-share data 2006/2007
(in euros)
Revenue 4,704 4,671 +0.7%
Operating margin before depreciation
and amortization 889 888 +0.1%
As % of revenue 18.9% 19.0% -
Operating margin 785 779 +0.8%
As % of revenue 16.7% 16.7% -
Operating income 751 746 +0.7%
Net income attributable to Publicis
Groupe 447 452 -1.1%
Earnings per share 2.21 2.18
Diluted earnings per share 2.12 2.02
Dividend per share 0.60 0.60
Balance sheet data 31/12/2008 31/12/2007
Total assets 11,860 12,244
Shareholders' Equity 2,320 2,198
A dividend of EUR 0.60 per share will be submitted for the approval of shareholders, at the General Meeting to be held on 9 June 2009.
It will be paid as of 6 July 2009.
Analysis of the Key Figures
2008 Revenue
Consolidated revenues for 2008 amounted to EUR 4,704 million compared with EUR 4,671 million in 2007, up 0.7%, or 6.0% excluding exchange rate fluctuations (with a 2008 revenue at 2007 exchange rate).
Organic growth was 3.8%, the last quarter having been markedly more difficult. The growth of the digital business continues to contribute to good growth pretty much everywhere in the world, and very clearly in the United States and Western Europe. The digital business in 2008 represents 19% of total revenue, compared with 15% in 2007, in line with our goal as leader of the strong-growth segments to earn 25% of our revenue from digital at the end of 2010. Similarly, the revenues originating in extremely high-growth countries in emerging economies represent 22.9% of the Groupe's total revenue in 2008, compared with 21.3% for 2007, thus confirming the intention of Publicis Groupe to have 25% of its revenue coming from these regions by 2010.
2008 consolidated revenue was distributed as follows (including Digital activities): 38% of revenue coming from advertising, 26% from media, 36% from the Specialized Agencies and Marketing Services (SAMS).
Geographical distribution of revenues for 2008:
For 2008, the geographical distribution of revenue is as follows:
(EUR million) Revenue Growth
2008 2007 2008 vs 2007 Organic
Europe 1,805 1,799 0.3% 1.3%
North America 2,008 2,016 -0.4% 4.4%
Asia-Pacific 519 502 3.3% 5.0%
Latin America 238 237 0.7% 6.5%
Africa and Middle 134 117 14.6% 21.8%
East
Total 4,704 4,671 0.7% 3.8%
All the regions contribute positively to the Groupe's organic growth for 2008. Europe is positive thanks to a very good performance by France due in large measure to the numerous budget gains of Publicis Conseil. Central and Eastern Europe, Northern Europe, Italy remain at balance, the United Kingdom, Germany and Spain being in negative territory. North America, with organic growth at +4.4%, benefits particularly from the dynamism of the digital business and media, even though a slowdown is observed during the last quarter. The Asia-Pacific region is extremely contrasted depending on the country, China and India respectively posting organic growth of 12.8% and 17.4% that offset the declines in growth observed in Japan and Korea particularly. Latin America benefits from the strong growth of Venezuela, Argentina and from good growth in Brazil.
The combined organic growth of the greater China region, Russia, India and Brazil is 14.2% for 2008.
Should the 2008 revenue be accounted for in US dollars, it would amount to 6,900 million dollars or a 7.9% growth. In GBP, this same revenue would be 3,733 million pounds.
2008 Fourth Quarter Revenue
Consolidated revenue for the fourth quarter was 1,373 million euro, up 5.5% compared with revenue of 1,301 million for the equivalent period of 2007.
Organic growth was 1.1% in the last quarter. Although positive, this growth - down compared with the previous quarters - reflects the decline of the real economy in several sectors and various regions of the world. It is, however, of note that high growth continues in the media and digital businesses, and in many countries of the emerging economies.
Geographical distribution of Q4 revenue
In Q4 2008, the geographical distribution of revenue is as follows:
(EUR million) Revenue Growth
4th quarter 4th quarter 2008 vs 2007 Organic
2008 2007
Europe 521 535 -2.6% -1.8%
North America 585 521 12.3% 1.8%
Asia-Pacific 152 142 6.3% -1.1%
Latin America 65 67 -3.3% 2.8%
Africa and Middle 50 36 42.2% 36.7%
East
Total 1,373 1,301 5.5% 1.1%
The Groupe's revenue growth in the fourth quarter is clearly stalling, with the exception of the Africa and Middle East region. Continued strong growth in China does not for this quarter offset the slowdown in the other countries of the Asia-Pacific region. While France still grew, Europe overall is suffering as a result of the continued decline of Southern Europe. North America enjoys positive growth, due to the buoyancy of the digital businesses.
Operating margin
The operating margin before depreciation of 889 million euro in 2008 remains stable by comparison with the figure of 888 million achieved in 2007.
Currency exchange effects on the 2008 operating margin have a negative impact of 46 million (2007 at 2008 rates).
The operating margin rate for 2008 comes to 16.7%. The ongoing efforts to control costs for the entire Groupe made it possible to absorb both the costs of integrating the various acquisitions and the accelerated deployment of the digital activities throughout the world.
The optimization of various on-going costs and capex allowed the Groupe to secure its margin.
Net income
The Groupe's net financial expense amounted to 79 million euros, income tax charge is 196 million, group share of income from equity-accounted companies is 2 million and minority interest 31 million. Net income attributable to Publicis Groupe amounted to 447 million euros compared to 452 million in 2007.
Free Cash Flow (excluding changes in working capital requirement)
The Groupe's free cash Flow, excluding changes in working capital requirement, increased by 4% over the previous year to reach an amount of 639 million due to the high level of EBITDA (18.9%).
Net Debt
The net financial debt - well down - declined from 837 million euro at 31 December, 2007 to 676 million at 31 December, 2008 thanks to a high free cash flow (651 million), and is taken as being after 174 million of share buybacks (net of disposals). Note is made that the Groupe's debt is not subject to any covenant.
The Groupe's average net debt at 31 December, 2008 is also significantly lower, amounting to 1,102 million euro versus 1,207 million on 31 December, 2007.
It is important to note that cash and available lines of credit comes to 2,798 million euro (2,533 million considering exclusively committed facilities) despite the Oceane 2008 bond repayment.
Shareholders' Equity
Total equity, including minorities, rose from 2,225 million at 31 December, 2007 2,350 million as at 31 December 2008.
The net debt / equity ratio thus declined from 0.38 as at 31 December, 2007 to 0.29 as at 31 December, 2008.
Groupe Life in 2008
Awards/Creativity
Publicis Groupe has been ranked Number 1 in the Gunn Report since 2004 for the best creative performance.
This distinction is a recognition of the creative qualities of the teams in Publicis Groupe agencies over the years - talents that are all the more precious in a digital world where quality of content takes on increasing significance.
This creative quality is also reflected in many other awards and industry rankings during the year.
On the creative side, Publicis Groupe ranked second at the 55th edition of the International Advertising Festival of Cannes with 101 Lions, and won a Grand Prix in Film (Gadbury-Gorilla).
At the Clio Awards, the Groupe won second place in 2008 with notably a "Grand Prix Innovative Media", five Television/Movie and Digital "Golds", making a total of 51 Clios.
Publicis Groupe came second in "The One Show" with 81 prizes.
Same recognition of the creative quality of Publicis Groupe at the 2008 Effie Awards, which reward the campaigns that are the most creative and the most effective.
New Business 2008 was again fertile in budget gains with $ 6.9 billion of budgets conquered, i.e., a net budget of 5 billion USD in the year, placing Publicis Groupe at first spot worldwide. (Nomura-ex Lehman- ranking)
Campaigns that will be remembered include: L'Oreal, Bank of America, Emirates, Schering Plough, Cadbury for media; Lunesta, Samsung, Sony Bravia, Guinness, Miller Chill for the agencies.
External Growth
In line with its strategy of focusing development in the two strong growth sectors, digital communication and emerging markets, and thus supplementing its networks of specialist agencies throughout the world, Publicis Groupe has pursued an active policy of external growth throughout the year.
Acquisitions in digital
Emporio Asia, a digital marketing agencybased in Shanghai, become Emporio Asia Leo Burnett,
Portfolio, a digital marketing services agency in Korea,
PBJS, the leading agency in the United States in digital marketing and strategic communication,
Performics Search Marketing Business, the leader of marketing search, based in Chicago and present in San Francisco, New York, London, Hamburg, Sydney, Singapore and Beijing, Tribal, one of the premier independent digital agencies in Brazil.
Moreover, in March 2008 Publicis Groupe began a new phase in the international deployment of the Digitas network: Solutions, a specialist of the Groupe in services marketing in India and Singapore, took the name of Solutions I Digitas, thus uniting the expertise in services marketing of Solutions on the Indian market and the international digital expertise of Digitas.
In June, creation of Saatchi & Saatchi Energy Source Integrated Interactive Solutions that unites the world-wide advertising network of Saatchi & Saatchi and the Chinese leader of interactive solutions Energy Source. Named Saatchi & Saatchi Energy Source Integrated Interactive solutions, the new entity specialising in integrated digital solutions, customer-relationship centred marketing and public relations is based in Shanghai and Guangzhou.
In June 2008, Publicis Groupe announced the launch of VivaKi, a new strategic initiative designed to significantly improve the performance of advertisers' marketing investments as well as boost Publicis Groupe's gains in market share in the context of rapidly expanding digital markets. At the same time, the Groupe created, in the framework of the VivaKi Nerve Center, a new technology platform, the largest network "of audience on demand" reliant on the technologies of Microsoft, Google, and Yahoo! Platform A offering the advertisers the possibility of reaching audiences that are defined with precision everywhere in the world, in a single campaign and on multiple networks.
Other acquisitions
At the start of 2008, Publicis Groupe acquired:
Act Now, a pioneer in sustainable development consulting based in San Francisco and that joined the Saatchi&Saatchi network.
La Vie est Belle, in Paris, an agency whose range of services relies on advertising, public relations, promotional events and online communication, which was purchased in February 2008, joined Paname to create Publicis Full Player.
In July of last year, the Groupe purchased Kekst and Company Incorporated, the leading agency in strategic and financial consulting, based in New York. In December 2008, Publicis Groupe announced the acquisition of W&K Communications, a specialist in advertising, promotion, television production and the space purchasing, based in China with offices in Beijing and Guangzhou. W&K joins the Great China network of Leo Burnett and takes the name Leo Burnett W&K Beijing Advertising Co.
Corporate Governance
The AFEP-MEDEF recommendations
At its 2 December 2008 meeting, the Supervisory Board of Publicis Groupe SA examined the AFEP-MEDEF recommendations released on 6 October 2008 on the compensation of board members and officers of listed companies.
It considers that these recommendations are in line with the tenor of the Groupe's corporate governance and notes that the existing commitments with respect to the members of the Executive Board are already in accordance with these recommendations.
Pursuant to the law of 3 July 2008 transposing the European Community directive 2006/46/EC published on 14 June 2006, the Publicis Groupe declared that the AFEP-MEDEF code amended in this way is the one to which it will refer for the drafting of the report specified in Article L.225-68 of the French commercial code as of financial year 2008.
2009
Recent events
- Innovations
At the start of this year Starcom unveiled a new initiative, in the framework of VivaKi, to develop a new format of video advertising that could become the new standard of the online advertising world. This initiative, dubbed "The Pool," will enjoy the collaboration of the largest suppliers of online video (AOL, Broadband Enterprises, CBS, Discovery, Hulu, Microsoft and Yahoo!). The advertisers participating in this project include Applebee's, Capital One, Nestle, Purina as well as some others, all clients of the agencies of Publicis Groupe.
This innovative project fits perfectly with the objectives of VivaKi:
- access to open standards
- open to all forms of collaboration with media owners and
our clients
- benefits from the scale effect in order to create standards
for our clients that consider the consumer more
- a global potential that can be extended to any new digital
channel.
Just six months after the acquisition of Performics from Google, VivaKi is launching the brand on the French market. Attached to VivaKi Nerve Center, VivaKi's center of digital expertise, Performics offers a range of services focussed on marketing to performance by uniting the expertise of three entities that are recognised as leaders in their fields: iBase, Webformance and Click2Sales.
Finance
January 19, 2009 Publicis Groupe bought back 12.7% of the original amount of Oceane 2018 bonds for an amount of 95 million euro (Oceane Publicis Groupe SA 2018-2.75%-FR0000180127) or 2.241.811 bonds at EUR 42.3585 per bond. A similar operation could be realised for all bond holders soon at equivalent conditions.
New Business
Publicis Groupe had a successful start to the year, winning several new budgets. These budgets include the media budget of CMCC (China Mobile), renewing its confidence in ZenithOptimedia, and Carrefour's global budget.
Outlook
With the intensification of the financial sector's problems over the last months of 2008, the economic crisis changed its dimension. Until the third quarter, the mature economies were operating in an environment of low growth, though the conviction remained that there was a possibility that the United States was "uncoupled" from the rest of world and that the real economy would slow down but would remain comparatively immune to the financial crisis.
After the bankruptcy of Lehman Brothers and given the state of quasi-bankruptcy of many large financial institutions, the crisis suddenly changed its scope, to affect nearly all the sectors of activity and an increasing number of countries. This is the first worldwide economical crisis and its effects are as yet unforeseeable.
In a difficult environment with global economy growth of 2.5% in 2008, down significantly from the previous year, Publicis Groupe attains practically all its objectives, closing the year with very good performance, including gains of new budgets, organic growth, operating margin, and free cash flow growing again, and enters the year 2009 with a solid balance sheet, sizeable liquidity and a flexible and adaptable structure.
2009 will be very difficult, with an estimate of global GDP growth of 0.9%. The most recent forecasts (ZenithOptimedia) report negative growth worldwide in advertising expenditure of 1.8%. By region, only the emerging economies are currently expected to grow significantly by comparison with 2008: Brazil +10%, China +8.8%, but United States should decline by 6.3%, Japan by 5.7%, Spain by 8%, Germany by 5.1%, while UK and France would experience a decrease of 4% and 1.9% respectively. However, it is important to stress that the estimates continue to be reviewed downwards on a regular basis.
In this environment marked by the entry into recession of various Western economies and by an expected slowdown in the growth of the emerging economies, Publicis Groupe intends more than ever to take advantage of its many assets. First of all, the Groupe has shown its ability to control its costs, as illustrated by the steady increase over the years in operating margin. This thorough work is independent from the fluctuations of the economy and is supplemented by great flexibility in the organization that enables it to adapt quickly. The strategy undertaken of growing digital business and expanding activities into strong-growth regions that is beginning to bear fruit, should, at least partially, offset the decline in certain activities or regions, on the understanding that the emerging economies are still growing despite everything and that online advertising expenditures will continue to post an increase close to or higher than 10%.
The fact that Publicis Groupe has won new budgets in recent years is testimony to the energy and attractiveness of the Groupe.
Faced with the many challenges of the next few quarters, Publicis Groupe remains confident, buoyed by its fine recent operating performance, a solid balance sheet, a very flexible organisation and teams who are highly committed to the Groupe's clients. About Publicis Groupe Publicis Groupe [Euronext Paris: FR0000130577] is the world's fourth largest communications group. In addition, it is ranked as the world's second largest media counsel and buying group, and is a global leader in digital and healthcare communications. With activities spanning 104 countries on five continents, the Groupe employs approximately 45,000 professionals. The Groupe offers local and international clients a complete range of communication services, from advertising through three autonomous global advertising networks, Leo Burnett, Publicis, Saatchi & Saatchi and two multi-hub networks, Fallon and 49%-owned Bartle Bogle Hegarty; to media consultancy and buying, through two worldwide networks, Starcom MediaVest Group and ZenithOptimedia; interactive and digital marketing led by Digitas; Specialized Agencies and Marketing Services offering healthcare communications, corporate and financial communications, sustainability communications, shopper marketing, public relations, CRM and direct marketing, event and sports marketing, and multicultural communications.
Web Site:http://www.publicisgroupe.com
Appendix
New Business 2008
5 billion USD (net)
Leo Burnett:
AC Delco (United States), Allstate Direct (United States), Alpina (Colombia), Ambev (Brazil), Aviva Insurance (Taiwan), AXA (Spain), AXN - Sony (Italy), Audi (Russia), BI (Brazil), Baltimor (Russia), Bell Canada (Canada), Borges & Almeida (Venezuela), Bosch Siemens (Czech Republic), CAMIL (Brazil), Carlsberg (Israel), Carrefour Telecom (Taiwan), Caterpillar (China), China Mobile (Greater China), Clear Blue Easy (Italy), COI Department of Work and Pensions (United-Kingdom), Coca Cola Company (Russia and United-Kingdom), Coke (United States), Comcast (United States), Comitato Moda (Italy), Confitecol (Latin America), Credit Mutual (France), Dean Foods: Silk Soy Brand (United States), DeVry (United States), Don Q. Limon (United States), Eidos - software game (United-Kingdom), Exclusive Resorts (United States), Ferrero Rocher (China), Ferreti Group (Italy), Fox (Dubai), Fundagao Energy (Brazil), GMR Sports Pvt Ltd (India), Govt of Ontario (Canada), Harrah's Promotions (United States), Hasbro (Mexico), Heineken (Hong-Kong), HP (Malaysia), Home Retail Group (United-Kingdom), Homebase (United-Kingdom), Hongguo (China), IKEA (Poland and Czech Republic), Ind. Alimenticas Corralito (Venezuela), ING Direct (Italy, France and Malaysia), Intesa (Italy), ISPA (United States), John Middleton Tobacco (United States), Johnnie Walker (Venezuela), Karsten (Brazil), Kellogg's - Special K (Germany), Kuwait Telecom Company (Kuwait), Leumi Card (Israel), Mars (Dubai, United Arab Emirates), Mayfair (Morocco), Mazola (United States), McDonald's (United-Kingdom), Mercedes (Portugal), Metlife (Mexico), Mobicom Telco (Hong Kong), Mont Blanc (Italy), MSD (Korea), Night Fever (France), Norumbi Shopping (Brazil), Novartis (Korea), Oracle (Italy), P&G Clearblue (Italy), P&G - Dash (Germany), P&G Digital (Columbia), PAAT (Australia), Pfizer (Italy), Phoenix (Israel), Purina Retail (United States), Q House Real Estate (Thailand), Rossi (Brazil), SAB Miller (United-Kingdom), SAMS Club (Brazil), Samsung - B2C (Global), Samsung USA (United States), Sanofi Aventis - Allegra (Japan), Saudi Telecom (Kuwait), Sberbank (Russia), Sino Diamond Outlander (Taiwan), Sobeys (Canada), Staples (Spain), Suzuki (Guatemala), Tesco (Poland and Czech Republic), Thalys (France), Tommy's Children's Charity (United-Kingdom), Trip (Brazil), Veinsa - Mitsubishi (Latin America), Waitrose (France), Walgreens Hispanic (United States)
Publicis:
Alcatel Lucent (United-Kingdom), ATP Tennis (United-Kingdom), AXA (France, New Zealand), Beam Global Spirits (United States), BNP (Belgium), British Council (United-Kingdom), Bundesministerium fur Bildung und Forschung (Germany), Carfax (Germany), Citi (United-Kingdom), Citibank (Brazil), COI EWDC EYPS (United-Kingdom), Comunidad de Madrid (Spain), Constellation Europe - Kumala (United-Kingdom), EasyJet (United-Kingdom), Elections Canada (Canada), Fortis (France, Belgium), General Mills (United States), Groupe SEB (United States), HP (Europe and Middle East), Homeaway (United States), Investitionsbank Berlin (Germany), L'Oreal (United States), LG Electronics (Italy), Life Technologies (United States), Lion Nathan (Australia), Manpower (France), Migros Aare (Switzerland), Nestle (Mexico), New World (China), Orange (France), P&G (Brazill, United States), Paypal (United States), Pernod Ricard (Glenlivet) (France), PMU (France), Qantas (Australia), Sandisk (United States), Sanofi-Aventis (Germany), Sara Lee (United States), SCA Paper (Austria), Servicemaster (United States), Shell Oil Germany (Germany), Slendertone (United-Kingdom), Stock (Italy), Swiss Air Lines (Switzerland), Swiss International Airlines (Switzerland), T-Mobile (United States), Tata Steel (United-Kingdom), Telefonica (Brazil), Theater Bonn (Germany), Trugreen (United States), Two Way Gaming Ltd (United-Kingdom) , Virgin (Australia), Yoplait (France)
Saatchi & Saatchi:
Alpitour travel agency (Italy), Amplifon (Italy), APACS (United-Kingdom), Appleton Estates (Canada), ArcelorMittal (United-Kingdom), Asia Five Nations (Hong Kong), Atlantis/Kerzner Group (United-Kingdom, United Arab Emirates), Australia - Dept of the Prime Minister & Cabinet (Australia), AXA (United-Kingdom), Banca Fideuram (Intesa S. Paolo Group) (Italy), Cadbury (Multiregional - SSF Group), Comedy Central TV Chanel (Italy), Continental Airlines (United Kingdom), Energy Policy and Planning Office (OPPO) (Thailande), Flybaboo (Switzerland), Fresh Retail Ventures/Jamie Oliver (United-Kingdom), GDF Suez (France/Global), General Mills/ Pillsbury Intenational (United Kingdom), Guinness - 250th Anniversary Celebrations (United-Kingdom), JTI (Russia), Kerzner Group (United-Kingdom & United Arab Emirates), Kroger (Canada), Merck Serono (Switzerland/global excluding US), Miller Chill (United States), Mondadori (Italy), MTS (j/v between Sistema/MTS and Shyam Telelink) (India), Oesterreichisches Verkehrsbuero (Austria), ParalympicsGB (United-Kingdom), Pillsbury - Green Giant Soup (United-Kingdom) , Pinko - Skelanimals (Italy), Sanyo Electronics (New Zealand), Senior's Money (Canada), Shenzhen Mobile (China), Singapour Navy (Singapore), MengNiu (China), Videocon (India), Volvo (Germany), Wal-Mart (United States), WellPoint (United States)
Starcom MediaVest Group:
Anton Sport (Norway), Avon Cosmetics (Colombia), Bank of America (United States), Bauer (United-Kingdom), BBS (Norway), Borusan Automotiv (Turkey), Cadbury (France and Turkey), CasinoLugano (Italy), City (Greece), Coca-Cola (Asia Pacific), Eko (Greece), Emirates (Global), E-on (Italy), Europcar (United-Kingdom), Evyap (Turkey), Farmatodo (Colombia), FEO (Singapore), GE-Money (Russia, Poland, Czech and Romania), Genting Resorts World (Malaysia), Heineken (Czech Republic and United Kingdom), Honda (Portugal), IKEA (Greece), Inbev (Romania), IMP (Italy), Inps (Italy), Korasides (Greece), KRKA (Poland), Kuwait National Airways (Kuwait), M-Video (Russia), McCormick (France and United-Kingdom), Media Prima (Malaysia), Nakheel (United Arab Emirates), NZ Post (New Zealand), Panrico (Portugal), Regione Piemonte (Italy), Samsung (Global), Sberbank (Russia), Snasco (United Arab Emirates), Snieszka (Romania), Soraya (Poland), Strauss (Romania), TUI (Poland), Unibet (Sweden), Unibrew (Poland), Visit Britain (Netherlands), Wisconsin Milk (United States), Wyeth (Mexico)
ZenithOptimedia:
2XL (United Arab Emirates), Aerogal (Ecuador), Al Barari (United Arab Emirates), Al Majid Motors (United Arab Emirates), Ali & Sons (United Arab Emirates), Alpha Bank (Romania), AMVIX (Greece), Aspial-Lee Hwa (Singapore), Aston Martin (United-Kingdom), AXA (New Zealand), Banyan Tree Hotels & Resorts Pte Ltd (Singapore), Barclay's (Spain), Berker Mama (Turkey), Betek (Turkey), Bob-Mobile (Greece), Bratz (Spain), Butlins (United Kingdom), Cadbury Wedel (Poland), Campofrio (Spain), Cargill (India), Carrefour Online (Spain), Changan Suzuki (China), Chateau d'Ax (Belgium), Chicco (Spain), Clarks (China), Collective Brands, Inc. (United States), Contender Entertainment Group (United-Kingdom), Control (Spain), DASK (Turkey), Darden Restaurants (United States), Dexia (Slovakia), Discovery (India), Disneyland Resorts Paris (International), Dogus Tea (Turkey), Dopod (Greater China), Dominos Pizza (Turkey), Dubai Investments (United Arab Emirates), EDB (Global), Emaar / King Abdulah Economic City (Saudi Arabia), Emperador Distillery (Philippines), Euroko Insurance (Turkey), European Lease Fund (Poland), Evyap (Turkey), FHB (Hungary), Galata Town (Turkey), Godfrey's (Australia), Goldas (Turkey), Guangzhou Mobile (China), Handelsblatt (Germany), Haribo (Spain), Harrah's Entertainment (United-States), HDFC Asset Management (India), Hertz (International), Honda (United Arab Emirates), Hyundai (China), Inbev (China), James Boags (Australia), Jazeera Children's Channel (United Arab Emirates), Kervan (Turkey), Kiler (Turkey), Kilim (Turkey), Kuveyt Turk (Turkey), Lamoiyan, Inc. (Philippines), Lievitalia (Italy), Lila Kagit (Turkey), L'Oreal - Media Buying (France), LVMH (India), Marks & Spencer (China), Masvision (Spain), Mavi Jeans (Turkey), MCYS (Singapore), Mega Brands (United-Kingdom), Mail Today (India), Mentholatum (China), Ministere de l'Agriculture (Poland), Ministerul Mediului (Romania), MOT (India), Multiopticas (Spain), O2 Digital (United-Kingdom), Omega (China), Opfermann (Germany), Panasonic (United Arab Emirates), Orkla Foods (Romania), Panasonic (New Zealand), Pertamina Pas (Indonesia), PGA (Greece), Pin An Insurance (China), Poltronesofa (Italy), Posta Romana (Romania), Qijing Mobile (China), RATP (France), Rawdah Poultry (Saudi Arabia), RCA (Belgium), Schering Plough (United-Kingdom), Sirvent S.A. (Spain), Swarovski (Europe), Swarovski Special Store (China), Synutra (China), Tadiran Carrier (Israel), Telepizza (Spain), Typhoo (United-Kingdom) , Texwood Jeans (China), Ubisoft (United States), Viajes Iberia (Spain), W. Jordans (United Kingdom), Wagner (Belgium), Warner Music Group (United-Kingdom), Wirtschaftswoche (Germany), WWF (United-Kingdom), Wyeth (China), YSL Beaute (Global), Zhuhai Mobile (China)
Publicis Healthcare Communications Group (PHCG):
AstraZeneca / Recentin - Saatchi & Saatchi Healthcare Innovations (United States), AstraZeneca / Zactima - Saatchi & Saatchi Healthcare Innovations (United States), AstraZeneca / ZD4054 - Saatchi & Saatchi Healthcare Innovations (United States), Auxilium/Testim - Medicus (United States), Biovail - PSS (United States), Eisai/Epilepsy Franchise - Saatchi & Saatchi Healthcare London (United-Kingdom), GTx/Acadopene -- Medicus (United States), Pierre Fabre/Javlor -- BOZ (France), Pfizer/Diversified Products - Arista (United States), Solvay/Zolip (United States), Sanofi-Aventis/Multag - Saatchi & Saatchi Consumer Health and Wellness (United States), UCB/brivaracetam - Medicus (United States), Wyeth/Enbrel - Arista (United States)
Publicis Public Relations and Corporate Communications Group (PRCC):
AXA (France, The Netherlands), Bouygues (France), Bureau Veritas (France), Caisse des Depots (France), EBSCO (United States), EU-China (Europe / China), GDF SUEZ (France), Groupama (France), Jardiland (France), Michelin (France), Ministere de l'Ecologie, de l'Energie, du Developpement Durable et de l'Amenagement du Territoire - Direction regionale Ile de France (France), Ministere de l'Economie, de l'Industrie et de l'Emploi (France), Moer Dijk Region (The Netherlands), Morgan (France), Rio Tinto (Europe), Saison Culturelle Europeenne (France), National Office of Family Allocations (France), Wyeth (United States)
Digitas:
AstraZeneca's Crestor & Pulmicort (United States), AOL (United States), CDiscount (France), Comcast (United States), Cultura (France), Disney Nature (France), Disponis - Societe Generale (France), E-TF1 (France), Hindustan Petroleum Corporation Ltd (India), HomeAway (United States), Kooples (France), Legrand (France), Liberation (France), Mars - Starburst (United States), Nouvelle Frontiere (France), P&G - Crest (United States), Quick (France), Shire's Lialda (United States),Total (France), Vin-Malin (France)
Fallon:
BoConcept (Asia), Boston Market (United States), Cheestrings ATL and Cheestrings Digital (United Kingdom), DeLonghi (Asia), Diagio (Japan), Diners Club (Asia), Kerry Foods (United Kingdom), Herman Miller (Asia), Rock Corps (United Kingdom), Sony Playstation (Sony Japan), Old Parr Scotch (Diageo Moet Hennessy) (Asia), Orange Gold Sony Computer Entertainment - Playstation 3 (Japan), Spots (United Kingdom),
Kaplan Thaler Group:
Lunesta (United States), DRTV (United States)
Definitions
Operating margin rate: operating margin as a percentage of revenues
Average net debt: 12-months average of average net debt of each month
Free cash flow: cash flow from operations after net capital expenditure excluding acquisitions
Net New Business: this figure does not result from financial reporting, but is based on an estimate of annualised advertising media spending on new business, net of losses, from new and existing clients
For further information, thanks to visit our website :
http://www.finance.publicisgroupe.com
