Slow Start to 2026 but Positive Signs for Ipsos

Ipsos has reported first quarter revenue of EUR 554.9 million, down 2.4% from a year earlier and representing organic decline of 1.4%. Despite this, it has confirmed its targets for growth in 2026 as a whole, with a number of positives including a strong order book and recoveries in key sectors.

The global group said foreign exchange effects - principally the Euro's appreciation against the US dollar - negatively impacted revenue figures (-5.4%), while scope changes added 4.3%. The latter were principally due to the acquisition of The BVA Family in June 2025, partially offset by the deconsolidation of Russian business as of January 1st this year.

Ipsos says its order book is strong, reflecting a rebound in Public Affairs demand in markets including the United States and France; good performance with major international clients and consumer goods companies; and a significant improvement in China, benefiting from rapid adoption of AI technologies.


Performance by region




The group achieved growth in its biggest region, EMEA, despite a 4.4% decline in the Middle East, but saw Americas revenue fall 4.1%, notably in the USA - however it says the order book and a stronger March bode well for US business. Asia-Pacific revenue was flat, with organic growth of 0.2%.


Performance by audience




Ipsos says its Consumer service lines show slight organic growth, and while Clients & Employees declined organically by 3.3%, orders and other signs are positive. In the Citizens service line, revenue declined but the group says 'the first quarter marks the return of public orders,' with 'significant multi-year contracts recorded, reinforcing our confidence in a rebound.' DIY platform Ipsos.Digital recorded double-digit growth in the first quarter, with ongoing initiatives aimed at accelerating its adoption and enriching its functionality.

The company has launched its Horizons strategic plan, with numerous initiatives already underway; and says it is accelerating the deployment of Globally Managed Services (GMS) and platforms such as Ipsos Synthesio, with double-digit growth expected in 2026. These factors mean it is sticking to its 2026 ambitions for organic growth between 2% and 3%.

Pictured is CEO Jean Laurent Poitou. Web site: www.ipsos.com .