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Slow Organic Growth for Ipsos
Ipsos has reported a 4.5% drop in revenue to EUR 343.3m in the first quarter of 2014, compared with EUR 359.6m a year previously. However organic growth - at constant scope and exchange rates - was 1.5%, in line with the performances recorded in the third and fourth quarters of 2013.
 During the quarter, currency fluctuations, which Ipsos had indicated would have an impact on the company's financial statements at least in the first half of the year, reduced business volumes in euro terms by 5.5%.
Consolidated revenues
(In millions of Euros) |
2014 |
2013 |
2012 |
| First
quarter |
343.3 |
359.6 |
379.9 |
| Second
quarter |
- |
444.1 |
457.1 |
| Third
quarter |
- |
418.6 |
440.6 |
| Fourth
quarter |
- |
490.1 |
512.0 |
| Full
year |
- |
1,
712.4 |
1,
789.5 |
|
Ipsos says growth in emerging markets was 5.5% - at constant scope and exchange rates - while it remained slightly negative (at -0.5%) in developed markets due to the 'continuing delicate situations' in the eurozone and Japan.
Consolidated
revenues by geographic
area (in millions of Euros)
|
1st
quarter
2014
|
1st
quarter
2013
|
Year-on-year
change
|
Organic
Growth
|
| Europe, Middle East and Africa |
165.7 |
167.8 |
-1.2% |
1.5% |
| Americas |
124.7 |
134.4 |
-7.2% |
2% |
| Asia-Pacific |
52.9 |
57.4 |
-7.9% |
0% |
| Quarterly
revenues |
343.3 |
359.6 |
-4.5% |
1.5% |
|
Looking at result for each business line, Ipsos described the underperformance of its media research division MediaCT as an 'artefact', relating to the stages reached on a certain number of major contracts. Apart from this, performance across all Ipsos specialisations was described as 'in line' with their business plans.
Consolidated revenues by business line
(In millions of Euros) |
1st
quarter
2014 |
1st
quarter
2013 |
Year-on-year
change |
Organic
Growth
|
| Advertising Research |
55.7 |
59.4 |
-6.2% |
1% |
| Marketing Research |
177.9 |
184.1 |
-3.4% |
2% |
| Media Research |
30.0 |
35.3 |
-15.1% |
-9% |
| Opinion & Social Research |
35.4 |
35.3 |
0.3% |
4% |
Customer and Employee
Relationship Management |
44.3 |
45.5 |
-2.6% |
4.5% |
| Quarterly
revenues
|
343.3 |
359.6 |
-4.5% |
1.5% |
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New services such as mobile research, neuroscience, web listening, and the activation of communities accounted for 5.4% of Ipsos' revenue in 2013; a figure which the firm predicts will climb to at least 7% in 2014 and 10% in 2015.
For 2014, Ipsos is anticipating organic growth of at least 3% and an increase in operating margin. The group will publish its first-half results on 23rd July.
Web site: www.ipsos.com .
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