Ad group Havas lifts full-year outlook, APAC rebounds with 8.2% organic growth

Havas reported stronger-than-expected organic growth in the third quarter of 2025 and raised its full-year guidance, citing steady demand across its divisions and particularly sharp momentum in the United States.

The France-based advertising and communications group said organic net revenue climbed 3.8 percent in the quarter, led by a 7.4 percent surge in North America. That performance, which benefited from easier comparisons to last year, was bolstered by double-digit growth in the company’s health division as existing clients increased spending. Asia-Pacific and Africa also returned to growth, advancing 8.2 percent after a weak second quarter.

“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,” said Yannick Bolloré, the company’s chairman and chief executive. “Our Converged.AI strategy continues to drive measurable impact, helping clients operationalize AI across their marketing ecosystems with greater precision and efficiency.”

He added that the recently announced Horizon Global — a joint venture with Horizon Media Holdings — marked “a major strategic milestone,” combining the companies’ strengths “in a seamless, AI-native solution tailored to US-centric global client opportunities and the evolving demands of modern marketers.”

Havas now expects full-year organic net revenue growth of 2.5 to 3.0 percent, up from its prior forecast of “above 2.0 percent.” It also forecasts an adjusted EBIT margin of roughly 12.9 percent, an improvement of about 50 basis points.

Across its geographic portfolio, performance was uneven. Organic revenue in Europe rose 1.9 percent, with strong results in the United Kingdom offset by weakness in France due to comparisons with last year’s Olympics-related spending. Latin America declined 4.6 percent on what the company called a “very unfavorable comparison basis,” as client activity slowed in Brazil and Chile.

For the first nine months of the year, organic growth stood at 2.8 percent, driven by expanded work from the group’s 30 largest clients.

The company continued to pursue acquisitions, taking a majority stake in Tidart, a Spanish digital performance agency aimed at deepening its e-commerce capabilities. It also pushed further into capital markets: Havas repurchased more than 8.7 million shares during the quarter at an average price of €1.50 and confirmed plans for a 10-to-1 reverse share split to take effect on Nov. 18, reducing the number of outstanding shares to 99.2 million.

“We remain committed to our strategic objectives and focused on scaling innovation, creativity, and performance across all markets,” Bolloré said. “I want to thank our teams for their dedication and our clients for the trust they place in us.”

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