PUTEAUX, FRANCE: Havas Group reported fourth-quarter revenue of $703.1 million, representing 1.6% organic growth compared with the prior year.
The French holding company, which operates Havas PR, Abernathy MacGregor, and Cake, experienced 1% organic revenue growth for the entire year to reach $2.4 billion.
Havas did not break out PR earnings.
Revenue in North America was down 1.2% organically in the fourth quarter to $206 million. For the full year, the group reported an organic revenue decline of 1.7% in North America to $768.8 million.
In Europe, organic revenue growth increased 1.4% for the full year and 2.3% in Q4, year-on-year.
Revenues from digital and social media accounted for 26% of the group's revenue in 2013. Net new business last year amounted to $1.9 billion
Yannick Bolloré, Havas Group's newly installed CEO, said in an earnings statement that “our North America business is recovering, with a new team in place and increased commercial momentum.”
“We pursued our strategy of integrating our creative, media, and digital teams in 2013,” he added. “New Havas Villages have recently been inaugurated in New York and Singapore. Deploying this new, client-centric organization makes us more agile, more innovative, and quicker to respond to the changes taking place in our industry.”
Bolloré replaced David Jones as Havas' CEO last month, marking the holding company's third change in the role in less than three years.
Organic growth represents change in revenue without taking into account the impact of acquisitions or disposals.
Note: All figures were converted from euros to American dollars using the XE currency converter.