Dentsu revises 2024 growth forecast after stagnant Q3 performance
By Oluwaseyi Lawal
Dentsu has reported a net revenue of 284.5 billion Japanese yen ($1.824 billion) for the third quarter, reflecting a 2% increase compared to 2023.
Organic growth, which excludes the effects of mergers, acquisitions, and currency fluctuations, stood at 0.3%.
The company revised its full-year 2024 organic revenue forecast to remain flat, down from its earlier prediction of 1% growth. This adjustment was attributed to “slower than expected business performance in Customer Experience Management across international markets.”
The quarter’s performance was supported by growth in Japan (2.8%) and the Europe, Middle East, and Africa region (6.9%). Meanwhile, the Americas region experienced a 3.1% decline in organic revenue, though it has shown steady quarterly improvements since late last year.
The CEO of Dentsu, Hiroshi Igarashi stated, “Over the last nine months, we have made internal investments around data & technology, people & culture and business operations to accelerate our competitiveness. We are confident in our medium-term direction and prospects of the Group, and these internal investments will strengthen our capabilities to deliver Integrated Growth Solutions and restore our competitive advantage to return to organic growth.”
The company stated that it will unveil a new mid-term management plan in February 2025.
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