Professional
Added to YB: 2024-12-20
Pitch date: 2024-12-19
HAV.F [neutral]
Havas N.V.
Author Info
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Company Info
Havas N.V. provides communications and marketing services in France, the United Kingdom, rest of Europe, North America, Latin America, the Asia-Pacific, and Africa.
Market Cap
EUR 1.5B
Pitch Price
N/A
Price Target
N/A
Dividend
5.30%
EV/EBITDA
4.18
P/E
8.97
EV/Sales
0.65
Sector
Media
Category
value
What We're Looking At - Havas SA
HAV.F (watchlist): 6th largest global ad agency. 2% rev growth, 13% adj EBIT margin by FY25. €360M EBIT @ 7.5x EV/EBIT = €2.7B EV. €2.25B equity value after adjusting for cash, liabilities, FCF. Simple story, easy for market to assess post-split. Historical 8.5-11.5x EV/EBIT range.
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