Omnicom Group reports ‘solid’ debt ratios at the end of first quarter

By Devika Patel

Knoxville, Tenn., April 17 – Omnicom Group Inc. had a total debt to EBITDA ratio of 2.1x and a net debt to EBITDA ratio of 1x at the end of its first quarter.

“As for our debt ratios, they remain solid,” executive vice president and chief financial officer Philip J. Angelastro said on the company’s first quarter ended March 31 earnings conference call on Tuesday.

As of March 31, the company had $2.3 billion of net debt, down $133 million year over year, and $4.9 billion of total debt.

EBITDA for the first quarter was $449 million.

The company generated $375 million of free cash flow in the first quarter.

The global marketing and corporate communications company is based in New York.

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