The Groupe published its first quarter revenue on April 15, 2025.
Publicis Groupe’s net revenue in Q1 2025 was euro 3,535 million, up +9.9% from euro 3,230 million in Q1 2024.
Changes in exchange rates had a positive impact of euro 65 million. Acquisitions, net of disposals, had a positive impact of euro 78 million. Organic growth reached +4.9%.
| Net revenue | ||||
|---|---|---|---|---|
| in millions of euros) | Q1 2025 | Q1 2024 | Reported growth | Organic growth |
| North America | 2,235 | 2,008 | +11.3% | +4.8% |
| Europe | 827 | 793 | +4.3% | +2.7% |
| Asia-Pacific | 286 | 266 | +7.5% | +4.8% |
| Middle East & Africa | 103 | 90 | +14.4% | +11.5% |
| Latin America | 84 | 73 | +15.1% | +28.3% |
| Total | 3,535 | 3,230 | +9.4% | +4.9% |
Net revenue in North America was up by +11.3% and +4.8% on an organic basis, excluding the currency effect related to the change in the dollar against the euro, and the contribution of the acquisitions completed over the last 12 months. The US posted a very solid quarter with +4.1% organic growth, with Connected Media continuing to support growth this quarter, confirming the strength of the Groupe’s integrated offer in this country where its model is the most advanced. Intelligent Creativity recorded high-single digit growth this quarter driven by gains in new business and service extensions. Technology posted a single digit decrease amidst a prolonged wait-and-see attitude from clients.
Europe net revenue was up +4.3% and +2.7% on an organic basis. Organic growth in the United Kingdom is positive thanks to high-single digit growth for Connected Media and single digit growth for Intelligent Creativity, both benefiting from new business gains. These performances offset a single digit decline for Technology. Faced with a close to double digits comparison basis in the 1st quarter 2024, organic growth in France is almost unchanged, excluding Technology with Publicis Sapient, which posted a decrease during the quarter. In Germany, Connected Media and Intelligent Creativity recorded positive growth, while Technology declined. Central and Eastern Europe posted very strong double-digit organic growth.
Net revenue in Asia Pacific recorded +7.5% growth (+4.8% on an organic basis). China continued its strong performance and delivered organic growth of +9.3%, after + 6.7% in the 1st quarter 2024, thanks to new business gains in Connected Media.
Net revenue in the Middle East & Africa was up +14.4% (+11.5% on an organic basis), largely driven by double-digit growth in Connected Media and Technology.
In Latin America, net revenue grew +28.3% on an organic basis driven across all activities. Reported growth was +15.1% due to the depreciation of the Argentinian peso relative to the euro.
Net financial debt totaled euro 728 million at March 31, 2025 compared with a net cash position of euro 775 million at year-end 2024, reflecting the seasonality in the activity. The Groupe’s average net debt over the last twelve months amounted to euro 672 million at March 31, 2025, up from euro 383 million at the end of March 2024 taking into account the acquisitions completed since the third quarter of 2024.
The Groupe’s liquidity position remains very solid at euro 4.2 billion.
