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) | 2025 | 2024 |
|---|---|---|
| Amounts not yet due | Amounts not yet due202511,728 | Amounts not yet due 2024 11,647 |
| Overdue receivables: | Overdue receivables:2025
|
Overdue receivables: 2024
|
| Up to 30 days | Up to 30 days 2025409 |
Up to 30 days 2024 377 |
| 31 to 60 days | 31 to 60 days 2025106 |
31 to 60 days 2024 89 |
| 61 to 90 days | 61 to 90 days 202544 |
61 to 90 days 2024 41 |
| 91 to 120 days | 91 to 120 days 202527 |
91 to 120 days 2024 29 |
| More than 120 days | More than 120 days 2025179 |
More than 120 days 2024 196 |
| Total overdue receivables | Total overdue receivables2025765 | Total overdue receivables 2024 732 |
| Invoiced trade receivables | Invoiced trade receivables202512,493 | Invoiced trade receivables 2024 12,379 |
| Impairment | Impairment 2025(148) |
Impairment 2024 (167) |
| Invoiced trade receivables net | Invoiced trade receivables net 202512,345 |
Invoiced trade receivables net 2024 12,212 |
| (% of revenue) | 2025 | 2024 |
|---|---|---|
| Five largest clients | Five largest clients 202512 % |
Five largest clients 2024 13 % |
| Ten largest clients | Ten largest clients 202520 % |
Ten largest clients 2024 22 % |
| Twenty largest clients | Twenty largest clients 202530 % |
Twenty largest clients 2024 32 % |
| Thirty largest clients | Thirty largest clients 202537 % |
Thirty largest clients 2024 38 % |
| Fifty largest clients | Fifty largest clients 202545 % |
Fifty largest clients 2024 47 % |
| One hundred largest clients | One hundred largest clients 202558 % |
One hundred largest clients 2024 59 % |
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.
