Ipsos revenues fall in first half of 2023

The figures show that Ipsos had revenue at €1.087bn, with a 1.1% drop in organic growth and a 1.8% fall related to currency effects linked to the appreciation of the euro against the pound and emerging currencies.

The company said there was a 2.8% fall in organic growth the first quarter of the year, with a 0.5% rise occurring in the second quarter of the year.

In Europe, Middle East and Africa, organic growth was down 1% on the same six month period in 2022 at a total revenue of €475.7m.

Revenue in the Americas was at €421.4m with a 3% fall in organic growth, while Asia-Pacific saw a 3% rise in organic growth and revenue of €190.1m.

Performance by region in the first half showed a sharp contrast between growth in emerging countries (close to 9%) and a decline of nearly 5% in developed countries.

Ipsos said that the half-year results were compared against an excellent first half of 2022, and that revenue for the first half of 2023 was €100m higher than in the first half of 2021, representing 6% organic growth over two years.

The end of major Covid-19 monitoring contracts in the first quarter also had an impact, as well as a decline in business from major technology customers undergoing restructuring.

Net profit attributable to the owner of the parent company was €56m, compared with €85m in the same six-month period in 2022.

A statement from Ipsos added: “We are now returning to a more usual annual pattern, both in terms of business and revenue. Historically, the first half of the year accounts for around 45% of full-year revenues and 26% of operating margin.

“This confirms what we anticipated in February: the business profile for 2023 will be the opposite of that for 2022, with revenues, operating margin and cash generation weaker in the first half and then much stronger in the second half.”