Continued momentum in Q1
Total growth: 4.8%
Organic growth: 4.5%
Paris, 18 April 2024 - Ipsos (http://www.ipsos.com), one of the world's leading
market research companies, achieves a solid first quarter, with a revenue of
EUR557.5m.
Revenue (EURm) 2024 2023 2022 2021 2020
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Q1 557.5 532.0 547.8 466.3 428.7
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Q2 555.1 574.0 527.0 357.3
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Q3 588.0 601.5 526.3 468.6
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Q4 714.7 682.1 627.1 582.9
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Total 2,389.8 2,405.3 2,146.7 1,837.4
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This income level confirms the continuation of the Group's sustained growth.
First-quarter growth stands at 4.8%, including 4.5% organic growth, 2.7% scope
effect, and -2.4% of adverse currency effects.
Ben Page, CEO of Ipsos, states: "The start of the year is encouraging. It
demonstrates our ability to deliver sustainable solid growth combined with a
high level of operating margin. Our geographical and sectoral diversity, which
provides greater resilience, combined with the talent of our 20,000 employees,
are major advantages for continuing our development. In a geopolitical
environment that remains uncertain, we confirm our organic growth and
profitability forecasts for 2024."
PERFORMANCE BY REGION
Q1 2024 Total
In EURm Revenue Contribution growth Organic growth
EMEA 256.6 46% 11.6% 9.7%
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Americas 203.3 37% -3.9% -3.2%
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Asia-Pacific 97.6 17% 7.8% 9.2%
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Revenue 557.5 100% 4.8% 4.5%
Activity in the EMEA region records nearly 10% organic growth in the first
quarter of 2024. Performances are very good, especially in Germany, Switzerland
and most of Continental European markets.
Activity in the Americas is down 3.2%. In the United States, the performance is
mixed from one service line to another. We observe a moderate recovery with most
major Tech clients, while our service lines dedicated to consumers are
performing well. However, our Public Affairs business is suffering from the end
of a few major and non-recurring contracts and a certain wait-and-see attitude
ahead of the upcoming presidential election. Our Healthcare activity is
temporarily down but should recover in the coming months. Furthermore, a
strengthened managerial organization will be put in place in North America from
the beginning of May, in order to support our ambition in this region. Although
the market will remain difficult, we expect performance to improve in the second
half of the year: our order book is ahead of the quarterly revenue position in
the US. Latin America records good growth momentum.
The Asia-Pacific region records organic growth of over 9% for the quarter. India
and Southeast Asia continue their momentum with double-digit growth rates. China
is growing slightly, although the lack of macroeconomic visibility calls for
caution.
PERFORMANCE BY AUDIENCE
| Q1 2024 | | Total |
EURm | Revenue | Contribution | growth | Organic growth
| | | |
Consumers(1) 278.7 50% 9.3% 10.2%
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Clients and employees(2) 112.6 20% 1.2% 1.3%
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Citizens(3) 87.7 16% 2.5% -3.6%
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Doctors and patients(4) 78.5 14% -2.1% -0.9%
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Revenue 557.5 100% 4.8% 4.5%
Breakdown of Service Lines by audience segment:
1- Brand Health Tracking, Creative Excellence, Innovation, Ipsos UU, Ipsos MMA,
Market Strategy & Understanding, Observer (excl. public sector), Ipsos
Synthesio, Strategy3
2- Automotive & Mobility Development, Audience Measurement, Customer Experience,
Channel Performance (Mystery Shopping and Shopper), Media Development, ERM,
Capabilities
3- Public Affairs, Corporate Reputation
4- Pharma (quantitative and qualitative)
Our consumer-related activities record double-digit growth, which reflects a
good performance by consumer goods players. This performance is mainly driven by
our service lines focused on innovation, market positioning, brand health and
qualitative studies.
The clients and employees, citizens and doctors and patients audiences are
impacted by the unfavorable environment in North America. Excluding the United
States, these audiences are showing solid organic growth.
Finally, new services (platforms, ESG offers, data analytics and advisory)
continue to drive the Group's growth with an organic performance of 15% this
quarter.
OUTLOOK FOR 2024
In a context marked by numerous macroeconomic as well as geopolitical
uncertainties, we confirm our outlook for 2024, namely an organic growth of more
than 4% and an operating margin of around 13%. At the end of March, the
evolution of our gross margin and operating costs is in line with this guidance.
We are continuing to roll out our strategic plan, "The Heart of Science and
Data", by continuing our acquisition policy and intensifying our technology
investments, notably in Generative AI. These investments enable us to provide
more impactful information to our clients and to do so more quickly, to launch
regular new offers as already initiated this quarter, to ensure data quality and
security, and to make our operating model more effective.
On our Investor Day, scheduled for June 12, we will provide an update on the
progress of our plans, including the impacts we are starting to see from our
technology and AI investments.
ABOUT IPSOS
Ipsos is one of the largest market research and polling companies globally,
operating in 90 markets and employing nearly 20,000 people.
Our passionately curious research professionals, analysts and scientists have
built unique multi-specialist capabilities that provide true understanding and
powerful insights into the actions, opinions and motivations of citizens,
consumers, patients, customers or employees. Our 75 business solutions are based
on primary data from our surveys, social media monitoring, and qualitative or
observational techniques.
"Game Changers" - our tagline - summarizes our ambition to help our 5,000
clients navigate with confidence our rapidly changing world.
Founded in France in 1975, Ipsos has been listed on the Euronext Paris since
July 1, 1999. The company is part of the SBF 120 and Mid-60 indices and is
eligible for the Deferred Settlement Service (SRD).
ISIN code FR0000073298, Reuters ISOS.PA, Bloomberg IPS:FP www.ipsos.com
(http://www.ipsos.com/)
35 rue du Val de Marne
75 628 Paris, Cedex 13 France
Tél. + 33 1 41 98 90 00
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