Universal Registration Document 2025

10.5 First quarter 2026 financial information

10 Additional information

10.5 First quarter 2026 financial information

10.5 FIRST QUARTER 2026 FINANCIAL INFORMATION

10.5.1 Net revenue in Q1 2026

The Groupe published its first quarter revenue on April 14, 2026. This information has not been audited.

Publicis Groupe’s revenue in Q1 2026 was euro 4,191 million, compared with euro 4,161 million in Q1 2025. Organic growth of revenue reached +6.4%.

Net revenue in Q1 2026 was euro 3,460 million, compared to euro 3,535 million euros in Q1 2025. Organic growth of net revenue reached +4.5%. Exchange rates had a negative impact of euro 268 million. Acquisitions, net of disposals, accounted for a positive impact of euro 46 million.

The Groupe’s AI-powered marketing services, representing 86% of total net revenue, continued to perform strongly, driven by rising client demand, and delivered +7.6% revenue organic growth and +5.6% net revenue organic growth this quarter. This includes the Groupe’s Connected Media practice, which posted high single-digit net revenue organic growth, and Intelligent Creativity practice, which delivered low single-digit organic growth this quarter. The geopolitical situation in the Middle East reduced client visibility and weighed on large and capex-heavy transformation projects. As a result, the Groupe’s Technology practice, representing 14% of total net revenue, was slightly down on a net revenue organic growth basis this quarter.

/ Breakdown of Q1 2026 Net revenue by region
Breakdown of Q1 2026 Net revenue by region
(in millions of euros) Net revenue Reported growth Organic growth
Q1 2026 Q1 2025
North America

2,145

2,235

- 4.0%

+4.7%

Europe 837 827

+1.2%

+3.9%

Asia-Pacific

286

286

—%

+5.9%

Middle East & Africa 93 103

-9.7%

-5.1%

Latin America 99 84

+17.9%

+13.3%

Total

3,460

3,535

-2.1%

+4.5%

North America net revenue was +4.7% on an organic basis. The U.S., the Groupe’s largest geography, which represented 59% of total net revenue in Q1, delivered strong organic growth of +4.7% this quarter, which was fueled by mid-single-digit growth from both Connected Media and Intelligent Creativity.

Net revenue in Europe was +3.9% organically. Organic growth in the U.K. was up +6.2% France posted +1.6% organic growth, led by Connected Media.

Net revenue in Asia Pacific recorded +5.9% growth on an organic basis. China performed strongly with +11.7% organic growth, driven by double digits at Connected Media.

In Middle East & Africa, net revenue was down -5.1% organically as a result of the conflict in the region this quarter.

Net revenue in Latin America was up +13.3% organically driven by double-digit growth of both Connected Media and Intelligent Creativity.

10.5.2 Net debt

Net financial debt amounted to euro 1,156 million as of March 31, 2026 compared to a net cash position of euro 548 million at December 31, 2025 reflecting the seasonality of activity. The Groupe's last twelve months average net debt as of March 31, 2026 amounted to euro 1,035 million compared to euro 672 million as of March 31, 2025.