Publicis Groupe today reported an 8.2 percent slide in net revenues to $2.6B due to unfavorable currency exchange rates. At constant rates, Publicis revenues advanced 1.6 percent.
CEO Arthur Sadoun said the French ad/PR conglom posted a “solid performance,” during the quarter, which reflected a positive swing from last year.
He played up the “good news” from North American business that grew at a 2.8 percent clip.
Europe, up 0.3 percent, against a “very difficult comparable period," was another “source of satisfaction” for Sadoun.
Publicis enjoyed “an unprecedented track record of wins in the industry,” according to Sadoun, who pointed to global pick-ups of Mercedes Benz, Carrefour, Campbell’s and Marriott plus Red Bull in the US and Kraft Heinz in China.
He touted Publicis as “the only company in the world that can connect data, content and technology to deliver one-to-one consumer engagement at scale.”
Sadoun expects the Q1 account wins will drive Publicis to higher growth in 2018 than last year’s results. He is shooting for four percent organic growth by 2020.