Report
Neil Macker
EUR 101.80 For Business Accounts Only

Organic Growth at Publicis Remains Weak; 2017 Appears to be Another Transition Year

Publicis Groupe reported mixed 2016 full-year results with total revenue slightly below our projections and EBITDA in line with our expectations. Despite a slight miss on total revenue, organic revenue of 0.7% for 2016 was well below expectations and disappointing given the 3.5% growth posted by Omnicom. While 2016 was supposed to be a transitional year for the firm, management continues to point toward 2018 as the year for both organic revenue growth and margin improvement. Thus, we are maintai...
Underlying
Publicis Groupe SA

Publicis is holding company. Through its subsidiaries, Co. is engaged in marketing, communication and digital transformation. Co. designs a customized package of services to meet each client's particular needs through a holistic and global approach. In addition, Co. provides financial markets with information concerning the relative size of each of the different business sectors for the sole purpose of allowing sector comparisons. Co.'s principal activities comprise four main categories: Digital, Advertising, Specialized Agencies and Marketing Services (SAMS) and Media.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Neil Macker

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