As of December 31, 2025, the debt (after currency swaps) is primarily denominated in U.S. dollars for an amount of euro 2,057 million, representing 59% of the gross debt, and euros for an amount of euro 1,304 million, representing 37% of the gross debt.
Operating income totaled euro 158 million in 2025, compared with euro 150 million in the previous year. It includes rental income on real estate and fees for services contracted by the Group’s subsidiaries for euro 36 million, (compared to euro 40 million in 2024), and pass-through revenue and other income for euro 122 million (compared to euro 110 million in 2024). The majority of these last items have no impact on the Company’s net income, since they are offset by operating expenses. The increase comes from there-invoicing to Group agencies of the deliveries of free shares to employees benefitting from LTI plans.
Operating expenses amounted to euro 153 million in 2025, compared with euro 146 million the previous year. Excluding pass-through costs, they remained stable.
As a result, operating income is a euro 4 million profit, as well as in 2024.
Financial income amounted to euro 1,110 million in 2025, compared to euro 2,008 million the previous year, mostly due to the decrease in the dividends received from subsidiaries.
Financial expenses totaled euro 80 million in 2025, compared to euro 129 million the previous year. This change is mostly related to the decrease in the interest expenses related to the Group’s cash pool and intra-group loans.
As a result, the financial result is set at euro 1,029 million in 2025, down euro 850 million, compared to euro 1,879 million last year.
Pre-tax profit was a positive euro 1,034 million for 2025, compared to a euro 1,883 million profit in 2024.
The exceptional result was not significant in 2025. It amounted to euro 4 million in 2024.
After inclusion of euro 12 million Income tax credit resulting from the French tax consolidation, the net Income of Publicis Groupe SA, the Groupe’s parent company, was a euro 1,046 million profit as of December 31, 2025, compared with a euro 1,895 million profit as of December 31, 2024.
The Group published its first quarter revenue on April 14, 2026.
Revenue in Q1 2026 was 4,191 million euros, compared to 4,161 million euros in Q1 2025. Organic growth of revenue reached +6.4%.
Net revenue in Q1 2026 was 3,460 million euros, compared to 3,535 million euros in Q1 2025. Organic growth of net revenue reached +4.5%. Exchange rates had a negative impact of 268 million euros. Acquisitions, net of disposals, accounted for a positive impact of 46 million euros.
The Group’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 Group’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 Group’s Technology practice, representing 14% of total net revenue, was slightly down on a net revenue organic growth basis this quarter.
