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Havas continued its gradual recovery in the final three months of 2020 as its organic net revenue declined by 7.5% year on year.

The single-digit decline is an improvement on �����Ի��� and puts Havas in the middle of the holding groups to have reported so far – below Publicis Groupe and Interpublic but ahead of Omnicom and Dentsu.��

Havas, which is part of the entertainment giant Vivendi, said that “under the impetus of both the creative and media businesses”, Europe reported an overall stronger performance, although with contrasting results between countries. It did not provide further details.

Across the year Havas Group’s net revenues were €2.05bn (£1.77bn), down 9.2%, and organic growth was -9.9% compared to 2019.��

Earnings before interest, taxes and amortisation were €121m, down 46% on 2019.

Havas said its cost adjustment plan enabled it to “absorb more than 50% of the decline in revenues” over 2020 (excluding restructuring charges).

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Across 2020, Dentsu International’s annual revenues slumped by 13% on an organic basis, Interpublic reported a 4.8% annual organic revenue drop and Publicis Groupe's organic revenue fell 6.3% in the same period.

WPP will report its results next week (11 March).