The Groupe published its first quarter revenue on April 14, 2022.
Publicis Groupe’s net revenue in Q1 2022 was euro 2,800 million, up 17.1% from euro 2,392 million in 2021. Exchange rates had a positive impact of euro 125 million Acquisitions, net of disposals, accounted for an increase in net revenue of euro 19 million. Organic growth reached +10.5%.
| Net revenue | ||||
|---|---|---|---|---|
| EUR million | Q1 2022 | Q1 2021 | Reported Growth | Organic Growth |
| North America | 1,748 | 1,505 | +16.1% | +8.1% |
| Europe | 662 | 561 | +18.0% | +14.9% |
| Asia Pacific | 261 | 217 | +20.3% | +14.4% |
| Middle East & Africa | 75 | 62 | +21.0% | +13.4% |
| Latin America | 54 | 47 | +14.9% | +13.1% |
| Total | 2,800 | 2,392 | +17.1% | +10.5% |
North America net revenue was up +16.1% on a reported basis in Q1 2022, including a positive impact of the US dollar to Euro exchange rate. Organic growth in the region was +8.1%. In the U.S., organic growth came at +8.0%, confirming the country’s strong dynamic in all its activities. Publicis Sapient grew +16.3% organically, as the demand for business transformation continued to accelerate. Media posted double-digit organic increase, while Creative activities saw their net revenue grow mid-single digit, with notably strong Production. Epsilon grew +6.3% organically, absorbing the anticipated impact of supply chain issues that affected its Automotive division, thanks to double-digit growth in digital media and data. Canada was up +11.7% organically.
Net revenue in Europe was up by +18.0% on a reported basis. It was up by +9.4% on an organic basis, or +14.9% including the contribution of our Outdoor Media activities & the Drugstore. Organic growth in the U.K. was +12.0%, with a notable double-digit growth in Media and strong performance from Publicis Sapient, both driven by recent new business wins. Organic growth in France stood at +12.3% excluding outdoor advertising in transport and Drugstore. It includes very strong growth in Media and at Publicis Sapient. Germany was up +1.2% organically, versus a +6.0% comparable base in the same period last year. Central & Eastern Europe was up +14.9% organically, with double-digit growth in Poland, Hungary and Romania.
Net revenue in Asia Pacific was +20.3% on a reported basis, and +14.4% organically. China grew double-digit organically again this quarter, at +10.6%, supported by new business wins. Organic growth was also above 10% in India and Singapore. It should also be noted that Thailand performed well, largely driven by Publicis Sapient.
In Middle East & Africa, net revenue was up +21.0% on a reported basis, and +13.4% organically. Organic growth was largely driven by Media, Publicis Sapient in the Middle-East and Creative in Africa.
Net revenue in Latin America was up +14.9% on a reported basis, and +13.1%. organically, with most countries reporting growth this quarter, largely driven by Creative.
Net debt totaled euro 718 million at the end of March 2022, compared with euro 76 million at year-end 2021, reflecting the seasonality in the activity. The Groupe’s average net debt on a 12-month basis stood at euro 1,277 million at the end of March 2022. The Groupe’s liquidity position remains very solid, at euro 5.0 billion.
