- David Gianatasio

BOSTON Paris-based holding company Havas today reported an 8.2 percent revenue slide to $1.538 billion for the first nine months of 2009 compared to the same period a year ago.

In organic growth terms, factoring out exchange-rate variations and the impact of acquisitions and consolidations, the drop was 9.2 percent.

Havas said its net income for the period "remained stable" compared to the year-ago period, though it did not disclose that number.

Throughout 2009, Havas has turned in a generally disappointing performance, though its sluggish financials have been generally in line with those of its global competitors, which have also been pinched by the economy.

Havas pointed to its '09 debt reduction (49 percent to $238.4 million) and a somewhat improved organic loss for Q3 (-9.3 percent) compared to Q2 (-9.8 percent) as positive signs.

Also a plus: the firm has added about $1.70 billion in net new business since '09 began.

So far this year, Havas has performed worst in the Asia-Pacific region (-19.3 percent in organic terms), North America (-9.7 percent) and Europe (-9.1 percent). Its best global market has been Latin America, where the dip has been 1.8 percent, though that region contributed just $85.5 million to the firm's overall revenue so far in '09.

Havas is the parent of MPG, Euro RSCG and Arnold.


See also:

"Omnicom Endures Rough Q3"

"MDC Q3: Earnings Rise as Revenue Falls"

"Some Light, But How Long Is the Tunnel?"