Omnicom Group reports 11.9% organic revenue growth in Q1

Omnicom Group Inc. (OMC) has reported an organic growth of 11.9% for the quarter ended March 31, 2022. The organic growth in the first quarter of 2022 compared to the first quarter of 2021 increased across all of our fundamental disciplines, including 9.1% for Advertising & Media, 20.3% for Precision Marketing, 13.8% for Commerce & Brand Consulting, 68.0% for Experiential, 6.3% for Execution & Support, 14.0% for Public Relations and 7.7% for Healthcare.

The New York-based company's net income for the first quarter of 2022 decreased $114.0 million, or 39.6%, to $173.8 million compared to the first quarter of 2021.

EBITA in the first quarter of 2022 decreased $112.9 million, or 23.3%, to $372.4 million compared to the first quarter of 2021.  Our EBITA margin of 10.9% decreased from 14.2%. 

Meanwhile, the operating expenses increased $95.8 million, or 3.2%, to $3,057.3 million compared to the first quarter of 2021, including a decrease of 2.5% from the impact of foreign currency translation. Operating expenses reflect the charges incurred in connection with the effects of the war in Ukraine of $113.4 million, as described below. The group witnessed a decrease in global revenue in the first quarter of 2022, with a 0.5% drop to $3,410.3 million from $3,426.9 million in the first quarter of 2021.

“Our strong momentum continued in the first quarter with 11.9% organic revenue growth, reflecting our persistent focus on achieving better outcomes for our clients across all our business disciplines,” said John Wren, Chairman and Chief Executive Officer of Omnicom Group Inc. “We continued to invest in areas important to our clients’ growth, continued to make acquisitions in strategic areas of growth, and repurchased a significant amount of our shares. Despite uniquely challenging global events, we remain confident that our high-quality and diverse portfolio positions us strongly for future growth, both in 2022 and beyond.”