HALISTER: Publicis 2015 Revenue Beats; Modest Organic Growth Seen in 2016

Publicis 2015 Revenue Beats; Modest Organic Growth Seen in 2016

(Bloomberg) -- Publicis 2015 organic growth +1.5%; 4Q organic growth +2.8%; says performance boosted by acquisitions, FX, and 4Q turned out better than expected.
  • 2016 to be year of transition, modest organic growth expected; will focus on building foundations to “fire on all cyclinders” in 2017
  • Says North America performance quite satisfactory in 4Q, with organic growth of +6.3%
  • Organic growth of digital activities reached 8.8% in 4Q
  • Says 2015 free cash flow rose 31% to more than EU1b for 1st time in co.’s history
  • 2015 rev. up 32.3% to EU9.6b vs est. EU9.5b
  • 2015 net income up 25.1% to EU901m vs est. EU883.9m
  • Div. up 33.3% to EU1.6; BDVD forecast EU1.5
  • 2015 operating margin up 25.8% to EU1.5b; % operating margin 15.5%
  • 2015 headline diluted EPS up 20.6% to EU4.39
  • Outlook: co. expects all financial indicators to increase in 2016: revenue, operating margin, adj. EPS, dividend payout
    • Says reorganization underway, exposure to digital activities (52% of 2015 rev.) will bolster future growth, continue to improve margins
  • NOTE preview published yday here
Alert: HALISTER
Source: BFW (Bloomberg First Word)

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PUB FP (Publicis Groupe SA)

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