Publicis Groupe SA is the parent company of Publicis Groupe.
It acts primarily as holding company by managing its investments, allowing it to have direct or indirect control of the Groupe’s companies, and also providing services to all Groupe companies.
Additionally, and to a lesser extent, the Company receives rental income from leasing the building it owns in Paris, at 133 avenue des Champs-Élysées.
It has opted for the tax consolidation regime, which includes the parent company as head of the tax consolidation group and its main French subsidiaries.
It also implements a large part of the Groupe’s external financing policy with the banking and capital markets in order to maintain a certain level of liquidity to meet its commitments and investment needs.
On November 3, 2023, Publicis Groupe SA redeemed the euro 500 million bond issued in November 2016, on its maturity date, with an annual fixed‑rate coupon of 0.5%.
As part of a share buyback program, pursuant to the 17th thresolution of the General Shareholders’ Meeting of May 25, 2022, the Company bought back 3,000,000 of its own shares for a total of euro 221,851 thousand. The purpose of this program was to meet obligations relating to current free share plans, without issuing any new shares.
On November 28, 2023, Publicis Groupe SA recapitalized its subsidiary MMS France Holdings by euro 41,798 thousand by capitalizing a receivable due and payable by the Company under an intra‑group loan agreement. This capital increase was followed by a reduction in share capital for the same amount by offsetting prior losses.
On December 18, 2023, Publicis Groupe SA increased the cash capital of its subsidiary Publicis Finance Services by euro 25,000 thousand through the issuance of new shares. This capital increase was followed by a reduction in share capital for the same amount by offsetting prior losses.
During the financial year, the Company received dividends from its subsidiaries amounting to euro 912,459 thousand, including euro 910,000 thousand from Publicis Groupe Holdings B.V.
The parent company financial statements for the 2023 financial year have been prepared in accordance with the French Chart of Accounts (Plan Comptable Général) and in compliance with applicable legal and regulatory texts in France.
The valuation methods used to prepare the 2023 financial statements are unchanged from those used to prepare the financial statements for the previous financial year.
Intangible assets subject to amortization consist of the concession of parking spaces, amortized over 75 years (length of the concession), and the goodwill of Publicis Cinema, already fully amortized.
Property, plant and equipment are recognized at net acquisition cost and are subject to annual depreciation calculated on a straight‑line basis over the following periods:
The gross amount of long‑term equity investments is composed of the acquisition price of the securities excluding ancillary expenses. Foreign currency‑denominated securities are recognized at their acquisition price translated into euros.
Impairment is recognized whenever the investment’s value in use is lower than its carrying amount. Value in use is determined on the basis of objective criteria, such as net asset value, capitalized earnings or market capitalization, associated, where necessary, with more subjective criteria, such as specific industry indicators or ratios determined, in the context of economic assumptions and the Company’s growth forecasts, on the basis of the present value of projected future cash flows, and the strategic nature of the investment for the Groupe.
