Publicis Posts ‘All-Time High Results’ in H1 – Net Revenue up 19% and Organic Growth up 10.4%

Publicis Groupe has announced its financials for Q2 and mid-year in what it described as “remarkable performance” results for the June quarter and half year.

The company reported net revenue growth in the first half was up 19.1% and organic growth 10.4%. Growth was led by the US and Europe, both at 10.1%, and 6.5% in Asia.

For the quarter net revenue was up 21% and organic growth was 10.3%. Net revenue in the Asia Pacific was 14.2%.


Looking ahead, Publicis upgraded its 2022 full-year guidance to organic growth of 6% to 7%, up from 4% to 5%.

“H1 2022 came in at an all-time high for the Groupe on all KPIs,” said Arthur Sadoun, Chairman and CEO of Publicis Groupe.

“There are three reasons behind this remarkable performance, which comes on top of +17.1% organic growth in Q2 last year. First, very solid growth across all regions, with the U.S and Europe at +10%, and Asia at +6.5%, with China remaining positive despite the lockdowns. Second, further acceleration at Publicis Sapient and Epsilon which grew +19.1% and +13.7% respectively, confirming our ability to capture the shift of client investment towards data, technology and digital business transformation.


Last but not least, we benefitted from the ramp-up of our New Business, after a record number of wins in 2021. Our momentum since the beginning of the year continues to place us at the top of the New Business rankings for the past 12 months, in the latest broker reports.”

Looking ahead Sadoun expressed great optimism, saying “we are ready to face the ongoing uncertainties caused by the macro-economic context, thanks to our unique capabilities to help our clients weather any potential challenges and by leveraging our agile platform organization to sustain industry-high financial ratios.”


  • Q2 reported growth of +21%
  • Q2 organic growth at +10.3% after +17.1% in Q2 2021
    • Very solid performance across regions, with U.S. at +10.1%, Europe +10.1%, Asia +6.5%
    • Further acceleration of Publicis Sapient and Epsilon at +19.1% and +13.7% respectively
  • Continued momentum in New business with N°1 rank in broker league tables
  • Increase of Operating margin rate to 17.3%, up 80bps vs. H1 2021
  • Headline EPS up +29% at €2.88 and Free Cash Flow up +17% at €708m
  • Upgrade of 2022 guidance: organic growth expected at +6% to +7%, operating margin rate between 17.5% and 18%, Free Cash Flow at least at €1.5bn

Statement on financials from Publicis Groupe:

North America net revenue was up +25.2% on a reported basis in Q2 2022, including a significant positive impact of the US dollar to Euro exchange rate. Organic growth in the region was +10.3%. In the U.S., organic growth came at +10.1%, confirming the country’s strong dynamic in all its activities. Media posted double-digit growth, while Creative activities saw their net revenue grow in the high-single digits, with notably strong Production. Publicis Sapient grew +17.2% organically, as the demand for business transformation continued to accelerate. Epsilon grew +13.7% organically, as its Automotive division returned to positive territory, and with double-digit growth in all other divisions (Digital Media, Technology, Data). Canada was up +15.6% organically.

Net revenue in Europe was up by +11.8% on a reported basis. It was up by +10.1% on an organic basis, or +10.7% excluding the contribution of our Outdoor Media activities & the Drugstore. Organic growth in the U.K. was +15.5%, with a notable double-digit growth in Media and strong expansion at Publicis Sapient thanks to new business wins contribution. Organic growth in France was +9.3%3 with strong growth in Media and at Publicis Sapient. Germany was up +6.5% organically with strong growth in Media and sequential improvement at Publicis Sapient, posting positive growth. Central & Eastern Europe grew +6.4% organically despite activity being stopped in Ukraine, thanks to double-digit growth in PolandRomania and Turkey.

Net revenue in Asia Pacific was +14.2% on a reported basis, and +6.5% organically. Despite lockdowns in several cities, China was positive at +2.7% organic growth, supported by New Business. IndiaAustralia and New Zealand were up strongly, particularly thanks to Media, and Thailand performed well again thanks to Publicis Sapient.

In Middle East & Africa, net revenue was up +26.8% on a reported basis, and +15.3% organically. Organic growth was largely driven by Creative activities, and by Publicis Sapient in the Middle-East and Media in Africa.

Net revenue in Latin America was up +35.2% on a reported basis, and +20.7% organically, with most countries reporting double-digit growth this quarter, largely driven by Media.

The Staff

The Staff

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