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Ipsos H1 Revenue Jumps 26.4%

July 23 2021

Ipsos has reported a 26.4% increase in first half year revenue to EUR 993.3m, compared with EUR 786.0m in the prior year period and well up on the EUR 903.4m recorded in H1 2019. Organic growth from H1 2020 was 31.5%.

Didier TruchotOverall, the group's profitability in H1 2021 was 'significantly higher' than in the same period last year, with an operating margin of 11% compared to 3.2% in H1 2020 and 5.5% in H1 2019. Net profit amounted to EUR 71m compared with EUR 1.3m in H1 2020 (H1 2019: EUR 18.7m), and adjusted net profit rose sharply to EUR 81.4m from EUR 12.8m in H1 2020 and EUR 29.4m in H1 2019.

Last year, the group implemented various cost-saving measures, including a plan to reduce costs by EUR 113m over full-year 2020 compared to 2019 - primarily from payroll costs (EUR 43m), government subsidies (EUR 29m) and overheads (EUR 41m). Of these savings, around EUR 20m are expected to be repeated in 2021.

According to the firm, the Americas - North and South - are recovering well. In the Asia-Pacific region, which had a poor start to 2020 as the Covid-19 pandemic appeared in China and then in neighbouring countries earlier than elsewhere, has been in 'better shape' since the spring. However, it remains the part of the world where Ipsos' activity has hardly fgrown since 2019, having declined by 19% organically in the first half of 2020, compared to 9.5% for the EMEA and 15.5% for the Americas. China has regained 'good growth' while other markets, including Japan, are 'lagging behind'.

Performance by Region

Ipsos says that social research and public opinion work - ie, work with people defined as 'citizens' - is still the fastest growing segment, with an organic growth rate of 41% over the half-year, compared to an average rate of 31.5% for all audiences combined.

Performance by Audience

Co-founder Didier Truchot (pictured), who has recently moved from the role of CEO to Chairman, comments: 'I have taken great pleasure in sharing with you information about Ipsos and its market and to tell you about the passion I feel for this very fine profession that I have practiced for over 50 years. Ipsos's current results are proof that the project we formulated 46 years ago in Paris remains valid today'.

Web site: www.ipsos.com .

All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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