Universal Registration Document 2022

Note 14 Investments in associates

Investments accounted for using the equity method amounted to euro 55 million at December 31, 2022 (versus euro 25 million at December 31, 2021).

(in millions of euros)	Value in balance sheet
Amount at December 31, 2020	Amount at December 31, 2020 Value in balance sheet 24
Share of profit of associates	Share of profit of associates Value in balance sheet 0
Dividends paid	Dividends paid Value in balance sheet (2)
Foreign exchange and others	Foreign exchange and others Value in balance sheet 3
Amount at December 31, 2021	Amount at December 31, 2021 Value in balance sheet 25
Acquisition	Acquisition Value in balance sheet 32
Share of profit of associates	Share of profit of associates Value in balance sheet 5
Dividends paid	Dividends paid Value in balance sheet (3)
Foreign exchange and others	Foreign exchange and others Value in balance sheet (4)
Amount at December 31, 2022	Amount at December 31, 2022 Value in balance sheet 55

Additions to the consolidation scope concern:

Voilà SAS, a joint-venture created with Orange, in which Publicis holds a 50% stake. Voilà supports the digitalization of professional events by providing a cloud platform for hybrid event production, customizable and accessible in SaaS (Software as a Service) mode;
SCB Tech X, a joint-venture created with Siam Commercial Bank (SCB), in which Publicis holds a 40% stake. SCB Tech X is a leading, cloud-native platform-as-a-service serving clients in South East Asia;
Core 1 WML, a media agency based in Ireland, in which Publicis holds a 49.9% stake.

The following table shows the carrying amount of investments in associates at December 31, 2022:

(in millions of euros)	December 31, 2022
SCB Tech X	SCB Tech X December 31, 2022 17
Voilà SAS	Voilà SAS December 31, 2022 5
Core 1 WML Ltd	Core 1 WML Ltd December 31, 2022 14
Burrell Communications Group	Burrell Communications Group December 31, 2022 8
OnPoint Consulting Inc.	OnPoint Consulting Inc. December 31, 2022 4
Somupi SA	Somupi SA December 31, 2022 3
Viva Tech⁽¹⁾	Viva Tech ⁽¹⁾December 31, 2022 1
Other investments in associates	Other investments in associates December 31, 2022 3
Net amount	Net amountDecember 31, 2022 55

(1) Joint-venture between MSL France and Les Échos Solutions.