The risk factors described below, together with the other information concerning Publicis Groupe and its consolidated financial statements included in this Universal Registration Document should be carefully considered before making an investment in the shares or other securities of Publicis Groupe. This section covers the main risks to which Publicis Groupe feels exposed to, as of the date of this Universal Registration Document. Each one of the risk factors may have a negative impact on the Groupe’s earnings and financial position as well as on its share price or financial instruments. Other risks and uncertainties of which Publicis is unaware of or which are not currently considered to be significant could also have a negative impact on the Groupe.
In accordance with the provisions of article 16 of Regulation (EU) 2017/1129, in each of the risk categories mentioned below, risks are presented in descending order of significance according to the Groupe's assessment at the date of this document. The risk factors considered the most significant are presented first, following an assessment of their potential impact and likelihood, after taking into account the mitigating measures implemented. The significance of the risks, as assessed by Publicis Groupe, may be amended at any time in light of changes in the Groupe's activities and circumstances.
At the filing date of this Universal Registration Document, the geopolitical environment remains marked by the continued conflict in the Middle East and between Russia and Ukraine. The Groupe’s direct exposure to these conflict countries is low (less than 0.4% of revenue).
In general, all the risks identified below must be considered in light of the consequences of an uncertain geopolitical and macroeconomic context.
| Categories | Risk factors | Potential impact | Page number | Topic addressed in the CSR - Non financial performance |
|---|---|---|---|---|
| Industry‑related risks | Industry‑related risksRisk factors
Particular sensitivity to the economic and geopolitical conditions |
Industry‑related risksPotential impact High |
Industry‑related risksPage number 39 |
Industry‑related risksTopic addressed in the CSR - Non financial performancenot-included |
| Categoriesnot-included | Risk factors
Highly competitive industry |
Potential impact High |
Page number 39 |
Topic addressed in the CSR - Non financial performancenot-included |
| not-included | not-includedRisk factors
Cybercrime and IT systems failures |
not-includedPotential impact High |
not-includedPage number 39 |
not-includedTopic addressed in the CSR - Non financial performanceChapter 4 |
| Categoriesnot-included | Risk factors
Risks associated with client portfolios |
Potential impact High |
Page number 40 |
Topic addressed in the CSR - Non financial performancenot-included |
| CategoriesOperational risks | Risk factors
Risks related to employees |
Potential impact Medium |
Page number 42 |
Topic addressed in the CSR - Non financial performanceChapter 4 |
| Categoriesnot-included | Risk factors
Risks related to mergers and acquisitions |
Potential impact Medium |
Page number 43 |
Topic addressed in the CSR - Non financial performancenot-included |
| Categoriesnot-included | Risk factors
Risk of non‑adaptation to client needs |
Potential impact Medium |
Page number 43 |
Topic addressed in the CSR - Non financial performanceChapter 4 |
| Regulatory and legal risks | Regulatory and legal risksRisk factors
Personal data confidentiality |
Regulatory and legal risksPotential impact High |
Regulatory and legal risksPage number 41 |
Regulatory and legal risksTopic addressed in the CSR - Non financial performanceChapter 4 |
| Categoriesnot-included | Risk factors
Risks of litigation, governmental, legal and arbitration proceedings |
Potential impact Medium |
Page number 44 |
Topic addressed in the CSR - Non financial performanceChapter 4 |
| Financial risks | Financial risksRisk factors
Groupe's liquidity and financial rating |
Financial risksPotential impact Low |
Financial risksPage number 45 |
Financial risksTopic addressed in the CSR - Non financial performancenot-included |
