Half-year financial report 2025

Financial position and cash

1.5 Analysis of the financial situation and result

Financial position and cash

Financial position and cash

Simplified balance sheet
(in millions of euros) June 30, 2025 Dec 31, 2024
Goodwill

Goodwill

June 30, 2025

13,009

Goodwill

Dec 31, 2024

13,843

Intangible assets

Intangible assets

June 30, 2025

925

Intangible assets

Dec 31, 2024

1,069

Right-of-use assets related to leases

Right-of-use assets related to leases

June 30, 2025

1,612

Right-of-use assets related to leases

Dec 31, 2024

1,735

Other non current assets

Other non current assets

June 30, 2025

936

Other non current assets

Dec 31, 2024

974

Current and deferred taxes

Current and deferred taxes

June 30, 2025

24

Current and deferred taxes

Dec 31, 2024

(94)

Working capital requirements

Working capital requirements

June 30, 2025

(2,824)

Working capital requirements

Dec 31, 2024

(3,948)

Total TotalJune 30, 202513,682 TotalDec 31, 202413,579
Equity attributable to holders of the Company

Equity attributable to holders of the Company

June 30, 2025

9,631

Equity attributable to holders of the Company

Dec 31, 2024

11,060

Non-controlling interests

Non-controlling interests

June 30, 2025

(27)

Non-controlling interests

Dec 31, 2024

(24)

Total equity Total equityJune 30, 20259,604 Total equityDec 31, 202411,036
Provisions and Pension commitments

Provisions and Pension commitments

June 30, 2025

776

Provisions and Pension commitments

Dec 31, 2024

858

Net financial debt

Net financial debt

June 30, 2025

1,033

Net financial debt

Dec 31, 2024

(775)

Lease obligations

Lease obligations

June 30, 2025

2,269

Lease obligations

Dec 31, 2024

2,460

Total

Total

June 30, 2025

13,682

Total

Dec 31, 2024

13,579

Consolidated equity attributable to holders of the parent company decreased from euro 11,060 million in December 31, 2024 to euro 9,631 million in June 30, 2025, as a result of the following elements:

  • (+) Net income H1 2025: euro 824 million;
  • (-) Other comprehensive income, net of tax (mainly related to the translation reserve): euro 1,235 million;
  • (-) Dividends: euro 903 million;
  • (+) Share based compensation, net of tax: euro 51 million;
  • (-) (Purchases)/ sales of treasury shares: euro 149 million;
  • (-) Acquisitions and commitments to buy-out non controlling interests: euro 17 million.

In the first half year of 2025, as part of a share buyback program, Publicis Groupe S.A. repurchased 1,610,899 of its shares for euro 149 million (euro 150 million including the financial transaction tax). The objective of this program is to meet the obligations related to the current free share plans for employees, without issuing new shares.

During the first half of 2024, as part of a share buyback program, Publicis Groupe S.A. repurchased 1,031,711 of its shares for euro 99 million (euro 101 million including the financial transaction tax). This program had the same objective.

In addition, in June 2024, Publicis Groupe S.A. acquired a block of 150,000 of its own shares for an amount of euro 15 million from shareholder Ms. Sophie Dulac. These shares were also be used to meet the Company’s obligations under current employee free share plans without issuing new shares.

Non controlling interests were negative at euro 27 million, after negative euro 24 million at December 31, 2024.