ODDO : Organic momentum is still positive but the dollar should weigh on margins in 2023
>Downward revision to our 2023 earnings estimates under the dollar effect - Organic momentum should remain brisk in Q4. We expect average organic growth of 5.4% for Publicis and WPP. The trend should then slow in 2023 but remain positive, in our view. We forecast positive organic growth (+1.2% on average) driven by a likely price effect. Nonetheless, both groups should be impacted by the recent decline in the dollar, with Publicis most affected (62.5% of revenues in N...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.
WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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