Havas (HAVAS) investor relations material

Executive summary

• Q1 2026 net revenue reached €638 million, with 2.5% organic growth year-over-year, in line with guidance midpoint, despite an uncertain macroeconomic environment.

• Business momentum remains solid, supported by multiple mid-size budget wins, strong client retention, and future growth opportunities in the Middle East.

• AI deployment advanced with group-wide training and rollout of proprietary tools AVA and Vermeer to enhance scalable, responsible content creation.

• Modest exposure to the Middle East (1.9% of net revenue), with no material Q1 financial impact.

Financial highlights

• Q1 2026 net revenue was €638M, with organic growth of 2.5% year-over-year; scope effect added 1.7%, while FX had a negative 5.8% impact, resulting in a reported decline of 1.6%.

• North America delivered 7.4% organic growth, Europe 1.1%, Asia Pacific declined 6.2%, and Latin America was broadly stable.

• Middle East exposure is limited at 1.9% of net revenue, with March performance down about 10% in key markets but minimal Q1 impact.

Segment performance

• North America: €230M net revenue, +7.4% organic growth, but -3.9% as reported, driven by new business wins in creative and media.

• Europe: €320M net revenue, +1.1% organic growth, +2.0% as reported, with solid performance in France and stable UK.

• Asia Pacific & Africa: €50M net revenue, -6.2% organic growth, -10.2% as reported, with China negative and India strongly positive.

• Latin America: €38M net revenue, -0.6% organic growth and as reported.

• Media, Creative, and Health verticals all contributed similarly to Q1 performance.