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Q1 Organic Growth of 4.5% for Ipsos

April 18 2024

Ipsos has reported continued solid growth in the first quarter of the year, with revenue up 4.5% in organic terms, to EUR 557.5m. The EMEA and Asia Pacific regions led the way with revenue up more than 9% in each case (organic) while the Americas saw a 3.2% decline.

Ipsos logoThe results continued a stronger performance which began last quarter and Q1 revenue eclipsed the record figure from 2022 after a dip a year ago.

By region

Germany and Switzerland performed especially well, with most Continental European markets not far behind.

In the United States, the company says performance was 'mixed from one service line to another', with a 'moderate recovery' in spend from 'most major Tech clients' and good results from consumer research. Public Affairs business was affected by the ending of some non-recurring contracts and by caution ahead of the upcoming presidential election, while Healthcare activity is temporarily down but expected to recover 'in the coming months'. Ipsos says a 'strengthened' managerial organization will be put in place in North America from the beginning of May, in order to support its ambition in this region; and that it expects performance to improve in the second half of the year, with the current order book supporting this belief.

In Asia-Pacific, India and Southeast Asia did particularly well, seeing double-digit growth, with China by contrast growing only slightly.

By audience

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)

Consumer-related activities recorded double-digit growth, driven by consumer goods clients, and by service lines focused on innovation, market positioning, brand health and qualitative studies.

The firm's segments for clients and employees, citizens and doctors and patients all suffered from the unfavorable environment in North America, and all show 'solid organic growth' once the US us excluded from results.

Ipsos says new services - which includes platforms, ESG offers, data analytics and advisory - continue to drive the Group's growth with organic growth of 15% this quarter.

Despite ongoing macroeconomic and geopolitical uncertainties, the company confirmed its forecast of 4% plus organic growth for 2024, and an operating margin of around 13%.

Global CEO Ben Page says the start of the year was 'encouraging'..He comments: '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'.

Home page: www.ipsos.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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