Universal Registration Document 2023

Investments in associates amounted to euro 46 million at December 31, 2023 (versus euro 55 million at December 31, 2022).

(in millions of euros)	Value in balance sheet
Amount at December 31, 2021	Amount at December 31, 2021 Value in balance sheet 25
Additions to the consolidation scope	Additions to the consolidation scope 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
Disposals	Disposals Value in balance sheet (7)
Share of profit of associates	Share of profit of associates Value in balance sheet 6
Dividends paid	Dividends paid Value in balance sheet (7)
Foreign exchange and others	Foreign exchange and others Value in balance sheet (1)
Amount at December 31, 2023	Amount at December 31, 2023 Value in balance sheet 46

In 2023, the disposals mainly concern Burrell Communications Group, disposed of in October 2023.

In 2022, 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 Southeast 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, 2023:

(in millions of euros)	December 31, 2023
Somupi SA	Somupi SA December 31, 2023 3
Viva Tech ⁽¹⁾	Viva Tech ⁽¹⁾December 31, 2023 2
Voilà SAS	Voilà SAS December 31, 2023 2
SCB TechX	SCB TechX December 31, 2023 14
JJLabs	JJLabs December 31, 2023 1
OnPoint Consulting Inc.	OnPoint Consulting Inc. December 31, 2023 4
Core 1 WML Ltd	Core 1 WML Ltd December 31, 2023 16
Other investments in associates	Other investments in associates December 31, 2023 4
Net amount	Net amountDecember 31, 202346

6. Consolidated Financial Statements 2023 Year - AFR