Universal Registration Document 2024

2024 was also a year of accelerated acquisitions, enabling us to strengthen our lead in the industry thanks to our unique model. We invested 1.2 billion euros in acquiring Influential, the world’s largest influencer marketing platform, and Mars United Commerce, the #1 independent commerce marketing company. We are now clearly leading on 3 critical expertise for our clients: addressable media, creators and commerce. We are then able to directly link this expertise with Epsilon’s identities around the world to create a connected media ecosystem that we can build transparently within our clients’ proprietary environments.

These very solid results will allow us to propose to our shareholders at the General Shareholders’ Meeting of May 27, 2025, dividend to be paid entirely in cash, of 3.60 euros per share—an increase of 5.9%—and a payout ratio of 49.3%, the highest in our industry.

I cannot write these words without mentioning the economic uncertainty at the start of 2025. Many of our customers are facing very difficult situations due to price wars, rising inflation and a geopolitical environment that is more unstable than ever. And more than ever, we will be at their side to support them in these uncertain times.

Our performance in the first quarter as well as the record level of new business gains in the first months of 2025 give us confidence in the Groupe’s ability to post strong growth in 2025. Our model allows us to anticipate organic growth of between +4% and +5% in 2025. At the same time, Publicis Groupe will continue to post the best financial ratios in the sector with an expected operating margin up slightly from the record level of 18% in 2024, and a free cash flow before change in working capital of between 1.9 and 2 billion euros.

I would like to thank the Board for its unwavering support and especially Elisabeth Badinter, Vice-Chair of the Board, and Maurice Lévy, Emeritus Chairman, whose pioneering visions and investments have enabled the Groupe to position itself to face a future dominated by artificial intelligence. In 2024 more than ever, his experience and knowledge of the sector were valuable assets.

Finally, I would like to thank our clients and shareholders for their trust throughout our transformation and our employees for their extraordinary efforts in 2024. Thanks to them, we have reached new heights as a Group, and we are well positioned to ambitiously build on this momentum in 2025.