Publicis Groupe’s net revenue for the full year 2024 was euro 13,965 million, up +6.6% compared to euro 13,099 million in 2023. Exchange rate variations over the financial year had a negative impact of euro 39 million, and acquisitions (net of disposals) had a positive impact of euro 152 million.
Organic growth was +5.8% in 2024 compared to 2023.
The following table shows the evolution of net revenue in Publicis Groupe main markets.
| Net revenue | Growth | |||
|---|---|---|---|---|
| (in millions of euros) | 2024 | 2023 | Reported | Organic vs. 2023 |
| North America | 8,583 | 8,050 | +6.6% | +5.1% |
| % of total | 61% | 61% | ||
| Europe | 3,384 | 3,172 | +6.7% | +5.4% |
| % of total | 24% | 24% | ||
| Asia-Pacific | 1,218 | 1,156 | +5.4% | +6.3% |
| % of total | 9% | 9% | ||
| Middle East & Africa | 406 | 380 | +6.8% | +7.4% |
| % of total | 3% | 3% | ||
| Latin America | 374 | 341 | +9.7% | +22.9% |
| % of total | 3% | 3% | ||
| Total | 13,965 | 13,099 | +6.6% | +5.8% |
In North America, net revenue was up +5.1% organically in 2024. The region grew +6.6% on a reported basis, which includes a slight negative impact of the US dollar to euro exchange rate and the contribution of acquisitions completed over the year. TheUS, the Groupe’s largest geography and where its model is the most advanced, posted a solid +4.9% organically, fueled by both strong Connected Media and Intelligent Creativity.
Net revenue in Europe grew +5.4% on an organic basis and +6.7% on a reported basis, on top of three years at double-digit organic growth. It includes +1.1% organic growth in the UK, +4.2% in France, +3.8% in Germany and +18.8% in Central & Eastern Europe.
Asia-Pacific saw its net revenue grow by +6.3% organically and +5.4% on a reported basis. China posted +6.4% organic growth despite difficult macroeconomic conditions throughout the year.
The Middle East & Africa region was up +7.4% organically and +6.8% on a reported basis.
In Latin America, organic growth was at +22.9% and reported growth at +9.7%.
EBITDA (operating margin before depreciation and amortization) amounted to euro 3,014 million in 2024, compared to euro 2,845 million in 2023, up 5.9%. EBITDA was 21.6% as a percentage of net revenue (21.7% in 2023).
Personnel and freelancer costs totaled euro 9,224 million in 2024, up by 8.3% from euro 8,514 million in 2023. As a percentage of net revenue, these costs represented 66.1% in 2024, compared to 65.0% in 2023. Fixed personnel costs were euro 8,182 million representing 58.6% of net revenue, versus 57.5% in 2023. This increase is linked to the efforts to reinforce our talent pool to accelerate growth, as well as investments in AI. The cost of freelancers increased by euro 38 million in 2024, representing euro 370 million. Restructuring costs reached euro 136 million representing 1% of net revenue, up from euro 111 million in 2023.
