Havas raises 2025 outlook after 3.8% Q3 growth

Havas has raised its full-year guidance for 2025 following a strong third quarter as net revenues grew 3.8% on an organic basis to €656m (£572 million).

It now expects full-year organic net revenue growth of 2.5-3%, up from a previous forecast of over 2%, with an adjusted profit margin, known as EBIT margin, of around 12.9%, 50 basis points higher.

For the nine months to 30 September 2025, Havas recorded a net revenue of €2 billion, up 2.2% on the first nine months of 2024 when it reported net revenues of €1.95 billion.

Yannick Bolloré, chief executive and chairman of Havas, told Campaign he had seen a “sharp acceleration” as the year has progressed, following growth of 2.1% in Q1 and 2.6% in Q2.

He said: “Havas delivered a strong third quarter, achieving +3.8% organic growth in net revenue and demonstrating impressive commercial momentum, with notable new-business wins both during the period and more recently, establishing a strong foundation for the future.

“Our Converged.AI strategy continues to drive measurable impact, helping clients operationalise AI across their marketing ecosystems with greater precision and efficiency.”

Bolloré added, “We haven't seen any sign of a slowdown” in client spending despite the macro-economic environment. 

By region, APAC and Africa saw the strongest year-on-year growth at 8.2% for Q3–returning to positive growth after a negative Q2. North America followed with 7.4% organic year-on-year growth.

In Europe, net revenue was up 1.9% in Q3. Within that, the UK reported “robust” growth, which was attributed to both Havas Creative and Havas Media.

Notably, in Q3, Havas Media Network successfully retained the BBC’s £300 million media account. The network also recently locked down global media for Emirates.

Latin America was the only region to record a decline in Q3, with organic growth down 4.6% compared to the same period in 2024. Its decline was attributed to an “unfavourable comparison basis”, as Q3 2024 recorded organic growth of 18.3%, and a reduction of client spending in Brazil and Chile.

At the end of Q3 this year, Havas unveiled Horizon Global, a new joint venture with Horizon Media Holdings, which will help the pair pursue “US-centric global client opportunities”.

Closing his comments on Q3, Bolloré called the venture “a major strategic milestone” for Havas and added: "We remain committed to our strategic objectives and focused on scaling innovation, creativity, and performance across all markets.”

Havas is the second agency group to report Q3 results, after its bigger French rival, Publicis Groupe, said it grew 5.7% in the quarter and also upgraded its annual forecast.

Growth at Havas and Publicis contrasts with some rivals, including IPG (soon to merge with Omnicom) and WPP, which have both said they expect annual revenues to decline. The other groups are all due to report Q3 results later in October.