MAM
Publicis Groupe’s 2006 outlook favourable; awarded investment grade ratings
MUMBAI: Publicis Groupe has been awarded favourable investment-grade ratings by Standard & Poor’s and also by Moody’s, which indicate the Group’s stable outlook.
These ratings are a new milestone for the Group, allowing it to further strengthen its financial structure. Publicis Groupe had announced in 2003 that it would seek investment ratings from the two leading international agencies, and in 2005 began the formal process of obtaining the ratings.
Publicis Groupe chairman and CEO Maurice Lévy said, “These ratings are an important step forward for our Group, demonstrating the two agencies’ recognition of the quality of our balance-sheet structure and of our management. This is also further confirmation of Publicis Groupe’s stature as a Top Tier group. As was the case with our entry in the CAC 40 index in 2004, these investment-grade ratings entail new duties regarding financial policies. We will continue to tighten financial discipline at all levels, a discipline that has always been a foundation of our strength.”
Publicis Groupe chief financial officer Jean-Michel Etienne added, “This success rewards years of unstinting efforts since the acquisition of Bcom3 to improve our financial structures and to optimise our financial and treasury management. While we now have additional financial leeway, we are also aware that our new status entails new obligations.”
The net new business booked in 2005 should be close to $10 billion, maintaining Publicis Groupe’s number-one position over the year as a whole. The group confirmed its target of organic growth exceeding six per cent for 2005 as a whole, with an improvement in operating margins.
The outlook for 2006 is very positive, considering both the potential of new business and some improvement in the European business environment also favoured to some extent by the Football World Cup in Germany.
Lévy concludes, “We look to 2006 with confidence in the conviction that our group is fully equipped to meet all of advertisers’ needs. Our holistic approach to communications allows us to make the most of shifts in marketing budgets from one media to another.”
According to the targets for growth and operating margin confirmed under the International Financial Reporting Standard (IFRS), while the Publicis Groupe does not publish projections, but it reported on progress in reaching the targets it has set itself.
A company statement said that the ambitious goal of a 17 per cent operating margin for 2008 announced on 9 December, 2004 under French GAAP (Generally Accepted Accounting Principles) is clearly within reach. Under IFRS, the target is now 16.7 per cent for 2008.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
