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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Publicis Groupe SA    PUB   FR0000130577

PUBLICIS GROUPE SA

(PUB)
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Publicis beats market expectations for second quarter in a row

10/15/2020 | 01:32am EST
FILE PHOTO: Logo of Publicis is seen at VivaTech fair in Paris

PARIS (Reuters) - Publicis, the world's third-biggest advertising company, beat market expectations for the second quarter in a row with a less severe fall in sales than feared as the COVID crisis continues hit ad spending worldwide.

The Paris-based group, which has struggled to convince investors with its strategy to move closer to consulting businesses like rival Accenture, said clients were attracted by its data-driven new offers.

"We've had some drastic (spending) cuts from some of our clients," chief executive officer Arthur Sadoun told reporters in call. "We've managed to offset some of these cuts thanks to our model that helps customers in their transformation."

Publicis' quarterly underlying sales fell by 5.6% to 2.34 billion euros (2.11 billion pounds), above the average of 20 analyst estimates compiled by the company, which predicted a fall of 8.9% over the period.

The key metric benefited from the addition of new customers over the last 18 months such as Kraft-Heinz, TikTok and Reckitt Benckiser, the company said.

These new accounts helped limit revenue losses in North America, the company's number one region in terms of sales. Underlying sales in this region fell by 3%, significantly less than the 7.1% downturn expected by analysts.

This represents just a third of the fall seen in Europe, where countries such as France, Italy, Spain and Britain imposed strict lockdowns.

Publicis, home to ad agencies such as Leo Burnett and Saatchi & Saatchi, said the results were proof that the recent acquisition of data company Epsilon was beneficial to the group's offering and helped woo new clients.

"We're very cautious about the fourth quarter," Sadoun said with regards to the overall group performance.

But he added that the group would fulfill the 500 million-euro cost reduction plan announced earlier this year, thus helping to yield an operating margin slightly above 14.3% in 2020.

(Reporting by Mathieu Rosemain; Editing by Toby Chopra)

By Mathieu Rosemain


Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ACCENTURE PLC -0.14% 249.68 Delayed Quote.18.73%
PUBLICIS GROUPE SA -1.68% 38.7 Real-time Quote.-2.48%
RECKITT BENCKISER GROUP PLC 2.12% 6444 Delayed Quote.2.95%
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Financials
Sales 2020 9 803 M 11 684 M 11 684 M
Net income 2020 705 M 840 M 840 M
Net Debt 2020 2 156 M 2 570 M 2 570 M
P/E ratio 2020 14,5x
Yield 2020 4,08%
Capitalization 9 660 M 11 478 M 11 514 M
EV / Sales 2020 1,21x
EV / Sales 2021 1,08x
Nbr of Employees 80 787
Free-Float 86,3%
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Technical analysis trends PUBLICIS GROUPE SA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 38,19 €
Last Close Price 39,36 €
Spread / Highest target 52,4%
Spread / Average Target -2,98%
Spread / Lowest Target -49,2%
EPS Revisions
Managers
NameTitle
Arthur Sadoun Chairman-Management Board & CEO
Agathe Bousquet Co-President
Marco Venturelli Co-President
Maurice Lvy Chairman-Supervisory Board
Stephen David King Chief Operating Officer
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