Omnicom Group reports 12% drop in global revenue in FY2020

February 19, 2021 10:33

Omnicom Group has reported its worldwide revenue for the 12 months to 31 December 2020 decreased 12% to US$13.17 billion from US$14.95 billion in 2019.

The group attributed the impact on revenue to the COVID-19 pandemic in the second through fourth quarters of 2020.

Net income for the 12 months ended 31 December 2020 includes a net after-tax decrease of $146.8 million as a result of COVID-19 repositioning costs and a net loss on dispositions during the second quarter of 2020, asset impairment charges recorded during the fourth quarter of 2020, and credits related to reimbursements and tax credits under government programs in several countries where it has operations, such as Australia.

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Olivia Kruimel

Olivia Kruimel was the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.

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Omnicom Group

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Omnicom Group reports 12% drop in global revenue in FY2020

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