Detailed disclosures concerning these matters are provided in Notes 6, 9, 21, 22, 29 and 31.
Given the Russo-Ukrainian conflict, the Groupe announced on March 15, 2022, the immediate cessation of its activities and investments in Russia with the transfer of control of its agencies. The Groupe thus transferred control of its operations to Sergey Koptev, founding Chairman of Publicis in Russia, with a contractual commitment to ensure a future for its employees in the country.
Publicis Groupe sold 100% of the share capital of MMS Communication LLC, its Russian-based subsidiary. This sale was carried out in two stages: on March 31, 2022, the Groupe sold 81.1% of the share capital of MMS Communication LLC. Following this transaction, the Groupe disposed the control of all its Russian activities, while retaining a minority stake of 18.9% (with a put option). On July 29, 2022, Publicis Groupe finally exercised its put option in application of the signed agreement allowing it to sell its minority stake to the buyer at any time.
This transaction resulted in a loss on disposal of euro 87 million in non-current income, of which euro 49 million corresponded to the cash and cash equivalents of the entities sold. The Groupe’s commitments given to the buyer are described in Note 27 “Commitments”.
In the midst of a sharp decline in Ukrainian activities, and in order to support its employees in Ukraine, the Groupe is continuing to provide all the necessary financial support in this extremely difficult period. As a result, Publicis Groupe recorded a provision for liabilities and charges of euro 6 million, to cover the measures guarantying Ukrainian employees’ salaries for the whole year 2023.
The main acquisition during the period, in April 2022, is 100% of Profitero Limited, a world-leading SaaS platform in “Commerce intelligence”, which enables brands to increase their sales and profitability. The acquisition price is euro 199 million.
In addition, the Groupe made other acquisitions. In March 2022, the Groupe acquired 100% of Tremend in Romania, a technology Company specializing in software development. The acquisition price is euro 110 million (including the earn-out).
The fair value, at the acquisition date, of the consideration paid (excluding cash and cash equivalents acquired) of all entities that were fully consolidated (notably including the ones detailed above, as well as smaller acquisitions) with an exclusive takeover during the period, totalled euro 536 million. This amount mainly includes:
The amount paid out in 2022 for acquisitions (net of cash and cash equivalents acquired) totalled euro 523 million and included:
Acquisitions during the period represented less than 1% of consolidated net revenue in financial year 2022 and less than 1% of net income attributable to equity holders of the parent.
