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Yannick Bolloré Yannick Bolloré, the global chief executive of Havas, has said the recovery in advertising stock prices in recent months is proof that parent company Vivendi is “investing in the right direction” and “Havas is stronger now than we were before the start of the crisis”. The profit multiples of the big agency groups declined after Vivendi bought Havas at a €3.9 billion (US$4.73 billion) valuation exactly four years ago in May 2017, Bolloré conceded, but share prices have bounced back “big time” as the sector held up better than expected during the pandemic. “You would have been wise to invest in advertising” at the start of 2021, he said. “Look at the six largest holding companies people were surprised by the level of EBIT [earnings before interest and tax] and the cashflow coming from operations” during 2020 the “worst of the worst” in terms of business conditions.

United statesFrance generalUnited kingdomDouwe egbertsYannick bollorMartin sorrellIan whittakerXavier reesDonna murphyVincent bollorCyrille bollorVicki maguireAsia pacificChris hirstDavid jonesPeter mears