When comparing its annual performance, Publicis Groupe measures the impact on reported net revenue of changes in foreign currency exchange rates, acquisitions and disposals, and organic growth. Organic growth, which represents the increase in like-for-like revenue at constant exchange rates, is calculated as follows:
The difference between the net revenue for the current year, after subtraction of the net revenue from acquisitions (net of that of divested activities), and the net revenue of the previous year (converted at the current exchange rate) is compared with the net revenue generated in the prior period to determine the percentage of organic growth.
The Groupe believes that the analysis of organic net revenue growth provides a better understanding of its net revenue performance and trends than reported net revenue because it allows for more meaningful comparisons of current period revenue to that of prior periods. Also, like-for-like revenue is generally used in the industry as a key performance indicator.
Like-for-like revenue is not audited and is not a measurement of performance, according to IFRS standards. It may not be compared with similarly titled financial data of other companies.
| (in millions of euros) | Total |
|---|---|
| 2021 net revenue | 2021 net revenue Total 10,487 |
| Impact of exchange rates | Impact of exchange rates Total 864 |
| 2021 net revenue at 2022 exchange rates (A) | 2021 net revenue at 2022 exchange rates (A) Total 11,351 |
| 2022 net revenue before impact of acquisitions(1) (B) | 2022 net revenue before impact of acquisitions(1) (B) Total 12,495 |
| Net revenue from acquisitions(1) | Net revenue from acquisitions (1)Total 77 |
| 2022 net revenue | 2022 net revenue Total 12,572 |
| Organic growth (B - A) / A | Organic growth (B - A) / A Total 10.1% |
(1) Net of disposals
Organic growth was +10.1% in 2022, double-digit for the second consecutive year.
Organic growth for each quarter in 2022 was:
