Universal Registration Document 2025

Board of directors

3/ Accounting and valuation of provisions for risks and litigation, other provisions, and contingent liabilities

(Notes 1.3 « Provisions » and 22 « Provisions and contingent liabilities » to the consolidated financial statements)

(Notes 1.3 « Provisions » and 22 « Provisions and contingent liabilities » to the consolidated financial statements)
Key audit point

Publicis Groupe SA’s entities operate in more than 100 countries and are therefore subject to many laws and regulations, including tax rules, that are complex and constantly changing.

Furthermore, in the course of their activity, Publicis Groupe SA and its subsidiaries may be sued or jointly cited in legal proceedings brought against them, or against their customers, by third parties, by competitors of their clients, by an administrative or regulatory authority, or by a consumer association.

Management’s evaluation of the associated risks has led Publicis Groupe SA to recognize as at December 31, 2025 provisions for risks and litigation in the amount of euro 170 million and other provisions in the amount of euro 154 million in the consolidated financial statements.

Given the uncertainty of the outcome of the proceedings initiated, management’s high level of judgment in estimating risks, and the recorded amounts of provisions and liabilities, we considered the recognition and measurement of provisions for risks and litigation, other provisions and contingent liabilities, to be a key audit matter.
Our audit response
  • We obtained an understanding of the procedures implemented by management in order to identify risks and disputes to measure their impact and, where appropriate, assess the amount of liabilities to be recorded, in accordance with the accounting principles and methods described into the notes to the consolidated financial statements.
  • We obtained an understanding of the internal risk and litigation reports prepared by the local teams and analyzed by the Groupe legal department.

  • We examined the probability of an outflow of resources and the estimated amount of the obligation:

    • by considering the risk analysis performed by the Groupe legal department and by inquiring the Group legal department, for a selection of risks and disputes deemed complex and significant, in the litigation or pre-litigation phase;
    • by inquiring the external advisers of the entities of the Groupe or by obtaining legal opinions for the risks and disputes deemed most significant.
  • We assessed the appropriateness of the information related to provisions for risks and litigation, other provisions, and contingent liabilities disclosed in the notes to the consolidated financial statements.

IV. Specific Verifications

We have also performed, in accordance with professional standards applicable in France, the specific verifications required by laws and regulations of the Groupe’s information given in the Board of Directors’ report.

We have no matters to report as to their fair presentation and their consistency with the consolidated financial statements.

V. Report on Other Legal and Regulatory Requirements

Format of presentation of the consolidated financial statements intended to be included in the annual financial report

We have also verified, in accordance with the professional standard applicable in France relating to the procedures performed by the statutory auditor relating to the annual and consolidated financial statements presented in the European single electronic format, that the presentation of the consolidated financial statements intended to be included in the annual financial report mentioned in Article L.451-1-2, I of the French Monetary and Financial Code (Code monétaire et financier), prepared under the responsibility of the Chief Executive Officer, complies with the single electronic format defined in the European Delegated Regulation No 2019/815 of 17 December 2018. As it relates to the consolidated financial statements, our work includes verifying that the tagging of these consolidated financial statements complies with the format defined in the above delegated regulation.

Based on the work we have performed, we conclude that the presentation of the consolidated financial statements intended to be included in the annual financial report complies, in all material respects, with the European single electronic format.

We have no responsibility to verify that the consolidated financial statements that will ultimately be included by your company in the annual financial report filed with the AMF are in agreement with those on which we have performed our work.