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| John Wren |
Omnicom’s PR group posted another down quarter as organic revenues slipped 2.9 percent to $417M during Q4.
The Ketchum, Marina Maher Communications, Portland, Porter Novelli and FleishmanHillard group declined 5.5 percent organically during Q3 and 0.2 percent for all of 2023.
In a sharp contrast to PR, the advertising & media group chalked up 9.3 percent in Q4 organic growth to $2.3B and a 6.5 percent advance for the full year.
Overall, OMC CEO John Wren reported a 4.4 percent spurt in Q4 organic growth to $4.1B and a 4.1 percent jump to $14.7B for 2023.
Wren said the firm is “set up well with solid fundamentals, tremendous opportunities in digital commerce and retail media from the Flywheel acquisition and momentum in new business wins.”
Continental Europe, which generated 20.4 percent of Q4 revenues, was OMC’s star regional performer as it rose 14.1 percent to $829M on an organic basis.
The US (47.8 percent of revenues) grew 0.6 percent (on a reported and organic basis) to $1.9B during the quarter. Asia Pacific (12.9 percent of revenues) was up 10.9 percent. The UK (10.4 percent of revenues) grew 5.8 percent.
FGS Global represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
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