The Groupe analyzes its trade receivables, focusing in particular on improving its collection times, as part of the management of its working capital. The Groupe Treasury Department monitors overdue receivables for the entire Groupe. In addition, the Groupe periodically reviews the list of main clients in order to determine the exposure to client counterparty risk at Groupe level and, if necessary, sets up specific monitoring in the form of a weekly statement summarizing the exposure to certain clients.
Any impairment losses are assessed on an individual basis and take into account various criteria such as the client’s situation and late payments. Impairment of trade receivables also takes into account expected losses on receivables.
The following table shows the period overdue of trade receivables invoiced over the last two financial years:
| (in millions of euros) | 2024 | 2023 |
|---|---|---|
| Amounts not yet due | Amounts not yet due 2024 11,647 |
Amounts not yet due 2023 10,054 |
| Overdue receivables: | Overdue receivables: 2024
|
Overdue receivables: 2023
|
| Up to 30 days | Up to 30 days 2024 377 |
Up to 30 days 2023 248 |
| 31 to 60 days | 31 to 60 days 2024 89 |
31 to 60 days 2023 83 |
| 61 to 90 days | 61 to 90 days 2024 41 |
61 to 90 days 2023 31 |
| 91 to 120 days | 91 to 120 days 2024 29 |
91 to 120 days 2023 22 |
| More than 120 days | More than 120 days 2024 196 |
More than 120 days 2023 170 |
| Total overdue receivables | Total overdue receivables 2024 732 |
Total overdue receivables 2023 554 |
| Invoiced trade receivables | Invoiced trade receivables 2024 12,379 |
Invoiced trade receivables 2023 10,608 |
| Impairment | Impairment 2024 (167) |
Impairment 2023 (185) |
| Invoiced trade receivables net | Invoiced trade receivables net 2024 12,212 |
Invoiced trade receivables net 2023 10,423 |
| (% of revenue) | 2024 | 2023 |
|---|---|---|
| Five largest clients | Five largest clients 2024 13% |
Five largest clients 2023 12% |
| Ten largest clients | Ten largest clients 2024 22% |
Ten largest clients 2023 20% |
| Twenty largest clients | Twenty largest clients 2024 32% |
Twenty largest clients 2023 31% |
| Thirty largest clients | Thirty largest clients 2024 38% |
Thirty largest clients 2023 37% |
| Fifty largest clients | Fifty largest clients 2024 47% |
Fifty largest clients 2023 45% |
| One hundred largest clients | One hundred largest clients 2024 59% |
One hundred largest clients 2023 58% |
Publicis has established a group-wide policy for selecting authorized banks as counterparties for all its subsidiaries. This policy requires that deposits be made in authorized banks and that in general all banking services be provided exclusively by these banks. The list of authorized banks is reviewed periodically by the Groupe Treasury Department. Exceptions to this policy are handled centrally for the entire Groupe by the Treasury Office.
Additionally, studies are carried out in order to ensure that almost all cash and cash equivalents are deposited in authorized banks.
