Slide 1: Full Year 2024 Results
FULL YEAR 2024 RESULTS Yannick Bolloré, CEO François Laroze, CFO Analyst Presentation - 5 March 2025 1
Slide 2: Agenda
AGENDA 01 02 03 2024: A HISTORIC 2024 2025: YEAR OF CHANGE FINANCIAL PRIORITIES PERFORMANCE & OUTLOOK 04 CONCLUSION & Q&A - 2024 Full Year Results 2
Slide 3: 2024: A Historic Year of Change
2024: A HISTORIC YEAR OF CHANGE 3
Slide 4: Launch of a new strategy: Converged; Havas' listing
LAUNCH OF A NEW STRATEGY: HAVAS' LISTING: A NEW ERA FOR OUR GROUP CONVERGED 4 - 2024 Full Year Results
Slide 5: 2024 Key Figures
2024 KEY FIGURES GUIDANCE FULLY ACHIEVED* Net Revenue Adjusted Ebit Margin Free Cash Flow €2,736m 12.4% €223m +1.5% +30bps High conversion rate Adjusted EBIT Net Cash Organic growth -0.8% €338m +3.4% €211m(1) Guidance* -1.0% to -0,5% Guidance* 335m€ to 340 m€ Guidance* 180m€ to 220 m€ * Referring to
Slide 6: A new chapter as the strongest challenger in a reconfiguring market
A NEW CHAPTER AS THE STRONGEST CHALLENGER IN A RECONFIGURING MARKET... ...GLOBAL REACH WITH AGILITY AND AN ENTREPRENEURIAL SPIRIT - 2024 Full Year Results 6
Slide 7: A Global Presence & Strong Values
A GLOBAL PRESENCE & STRONG VALUES AN IDEAL BUSINESS PARTNER PROXIMITY, AGILITY & TAILOR-MADE APPROACH SINCE 1835 EXCELLENCE & HARD WORK 23,000 PEOPLE ENTREPRENEURIAL SPIRIT Operates in 100+ MARKETS - 2024 Full Year Results 7
Slide 8: Leading the Rankings and Achieving Excellence
LEADING THE RANKINGS AND ACHIEVING EXCELLENCE BETC ranked #1 at the WARC Creative 100 ranking. Uncommon Creative Studio ranked #1 at Campaign’s Independent Agency of the Year from 2019 to 2022. Havas BLKJ ranked #1 Agency of the Year in Singapore at Spikes Asia. Havas Media Network ranked #1 in Top
Slide 9: Main New Business Wins in 2024
MAIN NEW BUSINESS WINS IN 2024 HAVAS MEDIA HAVAS CREATIVE HAVAS HEALTH ITALY CONVERGED WINS: - 2024 Full Year Results 9
Slide 10: Havas, the strongest challenger driven by excellence, built on solid fundamentals
HAVAS, THE STRONGEST CHALLENGER DRIVEN BY EXCELLENCE, BUILT ON SOLID FUNDAMENTALS CREATIVITY AT ITS BEST OUR BEST DATA, TECH OUR TALENT & AI TOOLS OUR WELL- OUR INTEGRATION ESTABLISHED M&A MODEL POLICY - 2024 Full Year Results 10
Slide 11: Creativity at its best: BETC #1 creative agency
1 HAVAS, THE STRONGEST CHALLENGER CREATIVITY AT ITS BEST BETC #1 CREATIVE AGENCY IN THE WORLD “Being number one on The WARC Creative 100 is an incredible feat not to be taken for granted” #1 Agency for creativity BETC Paris Stéphane Xiberras President & CCO, LIFETIME ACHIEVEMENT AWARD, JACQUES SÉGUÉ
Slide 12: Awards Won in 2024
1 CREATIVE EXCELLENCE: AWARDS AND INDUSTRY RECOGNITION 26 CANNES LIONS 55 EFFIE AWARDS 13 49 1,575 ONE SHOW CLIO AWARDS AWARDS WON IN 2024 15 D&AD 10 EPICA AWARDS 43 LIA 16 EUROBEST - 2024 Full Year Results 56 EL OJO 7 DUBAI LYNX 12
Slide 13: Our Talent – They Have Chosen Havas
2 HAVAS, THE STRONGEST CHALLENGER OUR TALENT – THEY HAVE CHOSEN HAVAS Emily Fairhead- Keen Justine Feron Arthur Fullerton Gastón Mancuso Anna Maria Marra Camila Nakagawa Group Head of Strategy, Chief Strategy Officer, Global Chief Technology Head of Client CEO of Europe, Havas Global Executive Vice
Slide 14: Appointments
2 HAVAS, THE STRONGEST CHALLENGER APPOINTMENTS François Laroze Laurent Broca Tamara Greene Dan Hagen Adding Chief Operating Adding Chief Growth Officer, Chief Client Officer of Global Chief Data & Officer to his current Havas Media Network, to his Global Brands, Havas Technology Officer, role as Chi
Slide 15: A client-centric data and tech approach and infrastructure
3 HAVAS, THE STRONGEST CHALLENGER A CLIENT-CENTRIC DATA AND TECH APPROACH AND INFRASTRUCTURE TO MAXIMIZE THE VALUE OF OUR CLIENTS’ FIRST PARTY DATA INFRASTRUCTURE PARTNERS DATA ENRICHMENT PARTNERS ARTIFICIAL INTELLIGENCE PARTNERS UNDERPINNED BY A €400 M INVESTMENT BETWEEN 2024 AND 2027
Slide 16: Our fully integrated model enhanced by our Converged strategy
4 HAVAS, THE STRONGEST CHALLENGER OUR FULLY INTEGRATED MODEL ENHANCED BY OUR CONVERGED STRATEGY O UR TO P 3 0 CLI E NTS G E NE RATE RE V E NUE …W I TH 9 3 % O F THE M ACRO S S ACRO S S MULTI P LE G E O G RAP HI E S … AT LEAST 2 OF OUR BUSINESS LINES 71 1 Geography 1 Business 2 Geographies Line 6% 6
Slide 17: Our well-established M&A strategy
5 HAVAS, THE STRONGEST CHALLENGER OUR WELL-ESTABLISHED M&A STRATEGY DMPG Hotglue Liquid Ted Wilderness Ledger Bennet September 24 July 24 March 24 March 24 February 24 January 24 • Digital analytics • Leading independent • Ecommerce and retail • Data consulting and • Social marketing • B2B full-serv
Slide 18: 2024 Financial Performance
2024 FINANCIAL PERFORMANCE 18
Slide 19: Another Year of Growth
1 2024 ANOTHER YEAR OF GROWTH Net Revenue (in €m) and Total Growth (in %) +9.2% +15.7% +4.1% +1.5% 2,695 2,736 2,590 Net Revenue €2,736m, a historic level 2,238 Total Net Revenue Growth +1.5%, after 3 years of sustainable growth 2021 2022 2023 2024 See Q4 2024 detailed figures in Appendix Rounded fi
Slide 20: 2024 Growth Breakdown of Net Revenue
1 2024 GROWTH BREAKDOWN OF NET REVENUE TOTAL GROWTH +1.5% ORGANIC FOREIGN SCOPE GROWTH EXCHANGE -0.8% +2.5% -0.2% +4.4% in 2023 See Q4 2024 Growth Breakdown in Appendix Rounded figures, based on single decimal growth rates. - 2024 Full Year Results See financial glossary for definitions, in the appe
Slide 21: 2024 Performance by Region
1 2024 PERFORMANCE BY REGION +1.2% Organic Growth (%) Net Revenue (€m) 1,352 -6.6% 925 -0.8% +1.1% Europe 2,736 263 North America Asia Pacific and Africa +14.7% 196 Latin America Havas See Q4 2024 by Region in Appendix Rounded figures. - 2024 Full Year Results See financial glossary for definitions,
Slide 22: A Diversified and Balanced Business
1 A DIVERSIFIED AND BALANCED BUSINESS 2024 Net Revenue* breakdown (in %) Business lines Geographies Sectors Latin America 7% France Automotive Retail 17% Travels & 5% Asia Pacific and 5% Healthcare & Entertainment Africa Wellness 6% 10% 29% Havas Media Havas Other 38% Creative Industries & 40% Servi
Slide 23: Robust EBIT Margin Expansion in 2024
2 ROBUST EBIT MARGIN EXPANSION IN 2024 Adjusted Ebit (in €m) and margin (in %) 11.0% 11.5% 12.1% 12.4% Improvement in Adj. Ebit 327 338 margin, +30bps, despite “a soft 297 organic growth” in 2024 247 Long term margin expansion, +140bps, through the last 4 years 2021 2022 2023 2024 Rounded figures. -
Slide 24: P&L 2024/2023 Summary
2 P&L 2024/2023 SUMMARY In €m Full year 2023 Full year 2024 Change % Adjusted EBIT includes: Revenue 2,872 2,863 -0.3% • Staff costs well under control, almost flat year-on-year Costs rebilled to customers (177) (127) -28% • Performance shares charges €(5)m, Net revenue 2,695 2,736 +1.5% compared to
Slide 25: Financial Costs & Tax Rate
2 FINANCIAL COSTS & TAX RATE In €m Full year 2023 Full year 2024 Change % Operating income (EBIT) 310 315 +1.6% Net financial expenses (31) (37) +19% Income taxes (95) (89) -6.3% Net income 184 189 +2.7% Non-controlling interests (17) (16) -5.9% Net income, Group share 167 173 +3.6% Unaudited consol
Slide 26: Cash Flow Generation Over the Year
3 CASH FLOW GENERATION, OVER THE YEAR (34) (97) +257 430* (251) Free Cash Flow +223 (94) 211 Net Cash YE 2023 Operating Capex (2) M&A (3) Dividends Taxes, FX Net Cash YE 2024 Cash Flow (1) paid to Shareholders (4) & others (5) (1) Operating (3) M&A: (4) Dividends to: Cash Flow o/w: (2) Capex o/w: •
Slide 27: Long-term Net Cash Position Evolution
3 LONG-TERM NET CASH POSITION EVOLUTION Net Cash Evolution, end of period (€m) 467 Net Cash €361m 430* excluding exceptional dividend to Vivendi 375 for €150m Average Net Debt: €67m 211 over the Year 2024, and excluding exceptional dividend to Vivendi for €150m Dec-21 Dec-22 Dec-23 Dec-24 Rounded fi
Slide 28: 2025 Priorities & Outlook
HAVAS 2025 PRIORITIES & OUTLOOK
Slide 29: 2025 & Beyond: Guidance Confirmed
2025 & AND BEYOND GUIDANCE CONFIRMED 1 Full Year 2025 Guidance Above 2% Adjusted EBIT margin* Pay-out ratio* of organic growth* of 12.5%-13.5% around 40% 2 Mid-term Guidance, Full Year 2028 Adjusted EBIT margin* Pay-out ratio* of of 14.0%-15.0% around 40% - 2024 Full Year Results * See financial glo
Slide 30: M&A: Pursuing a Dynamic Bolt-on M&A Strategy
1 M&A: PURSUING A DYNAMIC BOLT-ON M&A STRATEGY SUPPORTING THE 2025 & MID-TERM GUIDANCE ACCRETIVE ACCRETIVE 5 TO 10 GROWTH MARGIN ACQUISITIONS > > 40 to 50 m€ of Group level of Group level of Net Revenue* CA SPORTS CHANNEL BAKERS DON January 2025 February 2025 February 2025 • Creative agency • Sponso
Slide 31: Global Roll-out in 2025
2 GLOBAL ROLL-OUT IN 2025 - 2024 Full Year Results 31 31
Slide 32: Accelerating Deployment and Strengthening Capabilities in High Growth Areas
3 ACCELERATING DEPLOYMENT AND STRENGTHENING CAPABILITIES IN HIGH GROWTH AREAS BOLSTERING OUR DEVELOPING HAVAS ENHANCING OUR OPTIMIZING OUR CUSTOMER EXPERIENCE MEDIA'S NEW EXPERTISE NETWORKS CONTENT-AT-SCALE NETWORK INNOVATIVE SERVICES NETWORK Expanding our Addressing expected Extending our Brand Str
Slide 33: Launching Our Dedicated AI Offering
4 LAUNCHING OUR DEDICATED AI OFFERING ADOPTION CLIENT IMPACT HAVAS.AI We're sharing our expertise AI is embedded into how • Efficient - By automating our agencies operate every with the market through our and optimising single day. dedicated AI offering, workflows, we free up providing clients with
Slide 34: Next Shareholders Meeting Proposals
NEXT SHAREHOLDERS MEETING PROPOSALS Dividend Reverse Split €8 cents Share buy-back divided by 10 per share program number of shares Dividend Yield Program Lower €79.3m 10% of capital volatility 5.2%(1) max size Intra-day - 2024 Full Year Results (1) Yield based on average share price, 20 days of tra
Slide 35: Thank You
THANK YOU HAVAS
Slide 36: Disclaimer
DISCLAIMER - 2024 Full Year Results 36
Slide 37: Q&A
Q&A
Slide 38: Appendix
APPENDIX
Slide 39: Year 2024 Quarters
YEAR 2024 QUARTERS Net revenue Q1 2024 Q2 2024 H1 2024 Q3 2024 9M 2024 Q4 2024 H2 2024 FY 2024 In €m 617 691 1 308 650 1 958 778 1 427 2 736 % reported 4.8% 2.2% 3.4% -0.5% 2.1% 0.1% -0.2% 1.5% % scope 3.7% 3.4% 3.5% 2.0% 3.0% 1.1% 1.5% 2.5% % organic growth 2.0% -1.7% 0.0% -2.3% -0.8% -0.8% -1.5% -
Slide 40: Q4 Growth Breakdown
Q4 GROWTH BREAKDOWN Rounded figures, based on single decimal growth rates. - 2024 Full Year Results See financial glossary, in the appendix. 40
Slide 41: Q4 2024 Growth & Revenue by Region
Q4 2024 GROWTH & REVENUE BY REGION -2.6% Organic Growth (%) Net Revenue (€m) 379 -3.9% 253 -0.8% +4.9% Europe 778 85 North America Asia Pacific and Africa +21.1% 60 Latin America Havas Rounded figures, based on single decimal growth rates. - 2024 Full Year Results See financial glossary, in the appe
Slide 42: P&L 2023-2024
P&L 2023-2024 In €m Full year 2023 Full year 2024 Revenue 2,872 2,863 Costs rebilled to customers (177) (127) Net revenue 2,695 2,736 Other operating expenses and income (412) (429) Personnel costs (1,833) (1,851) Depreciation and amortization (121) (113) Performance shares (3) (5) Adjusted EBIT 327
Slide 43: Balance Sheet 2023-2024: Assets
BALANCE SHEET 2023-2024 ASSETS Full year Full year In €m 2023 2024 Non-current assets Goodwill 2,428 2,535 Intangible assets 51 49 Property and equipment 220 205 Rights-of-use assets 284 238 Equity Investments 19 3 Financial assets measured at FV through OCI(1) 39 40 Deferred tax assets 95 96 Other
Slide 44: Balance Sheet 2023-2024: Equity and Liabilities
BALANCE SHEET 2023-2024 EQUITY AND LIABILITIES In €m Full year 2023 Full year 2024 Shareholders' equity - Group share 1,931 1,881 Capital 170 198 Share premium account 1,401 3,246 Consolidated reserves 360 (1,563) Non-controlling interests 28 26 Total equity 1,959 1,907 Non-current liabilities Long-
Slide 45: Cash Flows Statement
CASH FLOWS STATEMENT 2023-2024 in €m Full year 2023 Full year 2024 Net income 184 189 Amortization, depreciation and impairment, including 122 104 right of use Current income taxes 79 92 Change in defered taxes 16 (5) Gains / (losses) on disposals of fixed assets 5 3 Expenses related to performance
Slide 46: Financial Glossary
FINANCIAL GLOSSARY Adjusted EBIT represents net income excluding income taxes, interest, other financial income and expenses, goodwill impairment, earn-out adjustments and restructuring Adjusted EBIT charges bps Basis points Capex Cash used for purchases of intangible and tangible assets Cash Flow G