India
Havas India Maintains Positive Momentum as Global Advertising Group Reports 7.2% Revenue Growth in Q3 2026: Havas has reported positive performance in India during the first nine months of 2026, even as its combined Asia Pacific and Africa business recorded a 6.7% decline in organic growth during the third quarter. The results highlight contrasting market conditions across the global advertising and communications industry, with India continuing to perform well amid challenges in other markets.
According to the company’s third-quarter results announced on October 14, 2026, Havas recorded global net revenue of €703 million for the quarter, representing a 7.2% increase from €656 million in the corresponding period last year.
The group’s performance was supported by its Media and Creative businesses, acquisitions and positive contributions from certain markets, helping offset weaker conditions in parts of Asia, the Middle East and Latin America.
India Maintains Positive Performance
India continued to deliver positive results for Havas during the third quarter and across the first nine months of 2026, providing a bright spot in the company’s Asia Pacific and Africa reporting region.
However, Havas has not disclosed standalone revenue or organic growth figures for its Indian operations, limiting the ability to quantify the market’s contribution to the group’s overall performance.
The wider Asia Pacific and Africa region reported net revenue of €62 million in the third quarter, down 4.1% from €64 million a year earlier. Organic growth declined 6.7% compared with the same period in 2025.
For the first nine months of 2026, regional net revenue fell to €170 million from €180 million, while organic growth declined 5.5%.
Havas attributed approximately half of the nine-month organic decline to weaker activity in the Middle East, with the remainder largely linked to China. India continued to perform positively despite these regional headwinds.
The results underline the importance of examining individual markets separately, as the performance of a broader geographical segment can conceal differences between countries.
Global Net Revenue Rises 7.2%
Havas reported total revenue of €724 million in the third quarter, up 6.3% from €681 million in the year-earlier period.
Net revenue, which excludes certain pass-through costs, increased 7.2% to €703 million from €656 million. Organic growth stood at 2.4%, compared with 3.8% in the third quarter of 2025.
Acquisitions contributed 3.2 percentage points to quarterly net revenue growth, while favourable foreign exchange movements added another 1.6 percentage points.
For the first nine months of 2026, Havas recorded total revenue of approximately €2.14 billion, compared with €2.089 billion in the same period last year.
Net revenue rose 3.1% to €2.065 billion from €2.002 billion. Organic growth for the nine-month period reached 2.5%, compared with 2.8% a year earlier.
Acquisitions contributed 2.5 percentage points to the nine-month net revenue increase, while currency movements had a negative impact of 1.9 percentage points.
North America Leads Regional Growth
North America emerged as Havas’s strongest-performing region in the third quarter, recording organic growth of 7.5%.
The region generated net revenue of €246 million, compared with €223 million in the corresponding quarter last year. Performance was supported by both Havas Media and Havas Creative, which continued to benefit from client budget wins secured in 2025.
For the first nine months of 2026, North America’s organic growth stood at 7.1%, reflecting continued momentum in the region.
Europe also delivered positive results, recording organic growth of 1.7% during the third quarter. Net revenue increased to €349 million from €325 million a year earlier.
France, particularly its Media business, along with Spain and Poland, contributed to the region’s performance. The United Kingdom remained challenging, prompting Havas to implement a new organisational structure for its London operations in September.
Europe’s organic growth for the first nine months of 2026 stood at 1%.
Latin America, meanwhile, recorded an organic decline of 4.3% in the third quarter. Weakness in Mexico and Peru offset stronger performances in Brazil and Chile. Despite the quarterly contraction, the region maintained positive organic growth of 1% for the first nine months of the year.
Havas Health Faces Challenges
While the Media and Creative divisions supported the group’s quarterly performance, Havas Health continued to face pressure from lower pharmaceutical launch activity in the United States.
The company attributed the slowdown to several pharmaceutical products that did not progress to launch following Phase III clinical trial outcomes.
The development highlights the impact that changes in pharmaceutical pipelines and client activity can have on specialist communications businesses, even when other divisions are delivering growth.
CEO Says Performance Remains in Line With Guidance
Commenting on the results, Yannick Bolloré, Chairman and Chief Executive Officer of Havas, said the company had delivered a solid third quarter, achieving organic growth in net revenue of 2.4%, in line with its full-year guidance.
The company maintained its full-year 2026 organic growth forecast of 2% to 3%. It also reaffirmed its adjusted earnings before interest and taxes (EBIT) margin target of 13.2% to 13.5%, alongside an expected dividend payout ratio of around 40%.
The guidance indicates that Havas expects to sustain organic growth while continuing to benefit from acquisitions and its diversified global operating model.
Advertising Industry Faces Uneven Market Conditions
Havas’s latest results reflect an advertising market in which growth opportunities vary considerably across geographies. North America delivered strong organic expansion, Europe recorded moderate growth, and India remained positive despite declines across the wider Asia Pacific and Africa region.
For advertisers and marketers operating across multiple countries, the figures highlight the importance of understanding local market conditions rather than relying solely on global agency performance.
India’s continued positive contribution is particularly notable as brands assess their marketing investments, digital transformation strategies and communications budgets in an increasingly competitive environment.
As Havas moves through the final quarter of 2026, its ability to maintain organic growth, integrate acquisitions and navigate geopolitical uncertainty will be central to meeting its full-year targets.
