17 January 2025
M&C SAATCHI
PLC
(the "Company" or "M&C
Saatchi")
2024 Full Year Trading
Update
Strong performance, in line
with expectations[1]
Full year growth in net
revenue, operating margin and profit demonstrates a successful year
of transformation
M&C Saatchi plc is pleased to
announce a trading update for the twelve months ended 31 December
2024 ("FY 2024").
Trading in the second half of the
year maintained first half momentum, supported by the Company's
diverse portfolio and strong growth in Issues, Media and the UAE,
enabling full year group like-for-like net revenue growth of circa
3.5% with reported net revenue at circa £243 million. The Board
anticipates that full year profit before tax and operating margin
will be in line with market expectations, with progress in
delivering group-wide efficiency programmes enabling second half
organic reinvestment into group capabilities and talent.
The Company's balance sheet position
remains strong with net cash of circa £16 million at 31 December
2024 and available facilities of £36 million in place to take
advantage of strategic opportunities, in line with the Company's
capital allocation policy. Additionally, with the ongoing
settlement of put options and increased cash management focus,
there are expected to be significant cash tailwinds into 2025 and
beyond.
Zaid Al-Qassab, Chief Executive
Officer, said:
"We are encouraged by the second
half 2024 results, driven by our global network and specialist
capabilities within our new agile, regional-first operating model.
This, combined with the execution of our ongoing group-wide
transformation, is positively impacting the business. I would like
to thank all our colleagues at M&C Saatchi for their commitment
and continued efforts during this transformative year, as we
continue to create advantage for clients through connected
creativity and excellent client service. Whilst we remain mindful
of ongoing macro volatility, we are confident we are putting the
foundations in place to achieve our ambition of long-term
profitable growth and delivering strong sustainable returns for
shareholders."
The Company will communicate the FY
2024 results announcement date in due course.
FURTHER INFORMATION
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M&C Saatchi
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+44 (0)20-7543-4500
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Zaid Al-Qassab, Chief Executive
Officer
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Simon Fuller, Chief Financial
Officer
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Thomas Fahey, Head of Investor
Relations
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Headland Consultancy
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+44 (0)20-3805-4822
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Rob Walker / James Waters
MCSaatchi@headlandconsultancy.com
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Panmure Liberum - Nominated adviser and joint
broker
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+44 (0)20-3100-2000
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Max Jones, Edward Mansfield, Will
King
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Deutsche Numis - Joint broker
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+44 (0)20-7260-1000
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Nick Westlake, Iqra Amin
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About M&C
Saatchi
M&C Saatchi is a
creative solutions company with specialist expertise and creativity
in helping our clients grow by maximising the reach and potential
of their brands. It does this through its regional-first operating
model with five core specialisms - Advertising, Issues, Passions,
Consulting and Media - which it leverages in an integrated
go-to-market approach. It has significant global reach, with major
hubs in the UK, Europe, Middle East, APAC and the Americas and is
supported by global shared services. M&C Saatchi is
headquartered in London and listed on the FTSE AIM index of the
London Stock Exchange.