Recommitment to SBTi following spin-off; targets being reassessed Following the spin-off from Vivendi in December 2024, Havas committed in 2025 to the Science-Based Targets initiative (SBTi) on its own behalf. The Group is refining the SBTi-approved carbon emission targets previously set by Vivendi to reflect Havas' new standalone status. Key targets include reducing Scope 1 and 2 emissions by 2035, 100% renewable electricity by 2030, reduction in operational Scope 3 emissions by 2035, and supplier alignment with decarbonization pathway by 2026.
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Mid-term guidance for 2028 set Havas set mid-term financial guidance for 2028: adjusted EBIT margin of 14%-15% and pay-out ratio around 40%. 2025 expectations: net revenue organic growth above +2%, adjusted EBIT margin 12.5%-13.5%.
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Climate targets to be reassessed with new base year Existing climate targets (set with 2018 base year) will be reassessed using a new base year following independence from Vivendi. Direction unclear until new submission.
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2025 acquisitions: CA Sports, Channel Bakers, Don In Jan-Feb 2025 Havas acquired CA Sports (Spain), Channel Bakers (North America) and Don (Argentina/Mexico) to strengthen sports marketing, e-commerce/retail media and creative capabilities in LATAM.
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Recommitted to Science Based Targets initiative (SBTi) Following spin-off from Vivendi, Havas reaffirmed commitment to SBTi and is preparing a new submission of climate targets. Existing 2018-baseline targets will be reassessed with new base year.
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Full disclosure of Scope 3 Category 3.1 Purchased Goods and Services In 2025, Havas conducted a detailed review of its 2024 carbon footprint and moved to full disclosure of Scope 3 emissions, including Cat 3.1 Purchased Goods and Services (previously partially disclosed at only 197 tCO2e). This caused reported footprint to more than double vs 2024 published figure; on like-for-like basis emissions decreased 3%.
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First independent CDP submission; Deloitte appointed for limited assurance In 2025, Havas submitted independently to CDP for the first time and received a B rating. Deloitte was appointed as independent third-party auditor providing limited assurance on ESG indicators across Scope 1, 2, and 3.
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Integration of Global Media Sustainability Framework (GMSF) Havas initiated integration of the industry's new standard for media-related carbon measurement (GMSF) into the Havas Carbon Impact Calculator. By 2026, the tool will be fully compliant, including more accurate measurement of programmatic media.
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Reverse share split 10:1 in November 2025 On November 18, 2025, Havas implemented a reverse share split at a ratio of 10 to 1. The number of ordinary shares was divided by 10 from 991.8 million to 99.2 million, with nominal value increasing from €0.20 to €2.00. No impact on share capital or equity.
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11 acquisitions completed in 2025 Havas completed 11 acquisitions in 2025, including Channel Bakers (US), Bearded Kitten (UK), Kaimera (Australia), Gauly (Germany), CA Sports (Spain), Don (Argentina), FMad (France), Enverta Digital (Canada), Tidart (Spain), Unnest (France), and Digizik (Belgium). Total payment for acquisitions net of cash acquired was €39M.
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