Omnicom has reported its Q2 2024 results, revealing 5.2% organic growth that has contributed to solid growth in adjusted EBITDA & EPS and seen global revenues hit US$3.9 billion. Yet the APAC region failed to hit the same global marks.

Omnicom's last quarterly revenue increased by US$243.9 million, or 6.8%, to US$3.9 billion, led by an increase in organic revenue of US$188.3 million. Acquisition revenue, primarily from the Flywheel Digital acquisition, further increased revenue by US$93 million, or 2.6%. However, foreign currency translation reduced revenue by US$37.4 million, or 1.0%.

Organic growth by discipline in Q2 2024 compared to Q2 2023 was led by a 17.6% increase in Experiential, followed by a 7.8% lift for Advertising & Media, 2% for Healthcare, 1.4% for Precision Marketing, 0.9% for Public Relations, and 1.2% for Execution & Support. By comparison, there was a decline of 3.8% for Branding & Retail Commerce.

While global figures were strong, Omnicom's APAC region business was one of two regions to experience a decline, with organic growth down 0.1 per cent, and revenues of US$431.5 million. EBITA decreased $33.6 million, or 5.9%, to $531.8 million in Q2 2024 compared to Q2 2023, and the related margin decreased to 13.8% from 15.7%. Adjusted EBITA increased $30.7 million, or 5.5%, to $589.6 million in Q2 2024 compared to Q2 2023, and the related margin decreased to 15.3% from 15.5%.

Omnicom CEO, John Wren, emphasised the importance of creativity and talent in the era of Gen AI, and highlighted the company's ongoing investment in data, technology, content production, e-commerce, retail, and performance media.

"Our 5.2% organic growth in the second quarter drove solid growth in adjusted EBITA & EPS, with good performance in our larger markets and disciplines," said Wren. He also pointed out the company's strategic alignment of agencies and robust investment in advanced capabilities.

"With the rapid adoption of Gen AI, creativity and talent matter more than ever to address the breadth and complexity of consumers. To serve our clients with the best, most advanced capabilities, we continue to strategically align our agencies and invest in robust data and technology, scaled content and production, e-commerce, and retail and performance media - all embedded in our industry-leading Omni platform."

Omnicom's strategic initiatives for 2024 include agency and market consolidation, unified production, scaled content solutions, expanding Gen AI deployments, and growing e-commerce offerings. The company also expects strong net new business wins and pipeline to contribute to future growth.