BOSTON Havas today reported a 21 percent improvement in operating income to $260 million for 2007 compared to the previous 12 months. Net income for the year improved 80 percent to about $130 million compared to 2006, Havas said.
The strong performance had been expected, given the Paris-based holding company’s disclosure last month that it posted record organic growth in 2007 of more than 7 percent to $2.23 billion in revenue compared to 2006. (And the company closed out last year on an up note, notching nearly 10 percent organic growth in the fourth quarter.)
Havas credited strong showings in all business groups, notably its digital and media operations, with driving its revenue and income in ’07. The company’s digital and media revenue rose 28 and 19 percent last year, respectively.
“The results for 2007 are up sharply and ahead of target,” said Havas CEO Fernando Rodes Vila. “In 2008, we will continue our efforts to win new business, optimize resources and control costs.”
Rodes Vila said he was “especially satisfied” that the company trimmed its debt by 40 percent to about $345 million during 2007.
Havas owns the Arnold, Euro RSCG and MPG agency networks.