Ipsos: Continued momentum in Q1
Continued momentum in Q1
Total growth: 4.8%
Organic growth: 4.5%
Paris, 18 April 2024 – Ipsos,
one of the world’s leading market research companies, achieves a
solid first quarter, with a revenue of €557.5m.
Revenue (€m) |
2024 |
2023 |
2022 |
2021 |
2020 |
|
Q1 |
557.5 |
532.0 |
547.8 |
466.3 |
428.7 |
|
Q2 |
|
555.1 |
574.0 |
527.0 |
357.3 |
Q3 |
|
588.0 |
601.5 |
526.3 |
468.6 |
|
Q4 |
|
714.7 |
682.1 |
627.1 |
582.9 |
|
Total |
|
2,389.8 |
2,405.3 |
2,146.7 |
1,837.4 |
|
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
In €m |
Q1 2024 Revenue |
Contribution |
Total growth |
Organic growth |
EMEA |
256.6 |
46% |
11.6% |
9.7% |
Americas |
203.3 |
37% |
-3.9% |
-3.2% |
Asia-Pacific |
97.6 |
17% |
7.8% |
9.2% |
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
€m |
Q1 2024 Revenue |
Contribution |
Total growth |
Organic growth |
Consumers1 |
278.7 |
50% |
9.3% |
10.2% |
Clients and employees2 |
112.6 |
20% |
1.2% |
1.3% |
Citizens3 |
87.7 |
16% |
2.5% |
-3.6% |
Doctors and patients4 |
78.5 |
14% |
-2.1% |
-0.9% |
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, Strategy32- Automotive & Mobility
Development, Audience Measurement, Customer Experience, Channel
Performance (Mystery Shopping and Shopper), Media Development, ERM,
Capabilities3- Public Affairs, Corporate Reputation4- 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
35 rue du Val de Marne75 628 Paris, Cedex 13
FranceTél. + 33 1 41 98 90 00
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