Ipsos Q3 Results Show What's Growing, What's Paused

Ipsos has reported Q3 results, giving more detail to go with headline figures announced in an update last week. The group's work with citizens, doctors and patients has declined, 'hampered by the difficult situation in the US', while consumer, customer and employee research has continued good growth.

Last week Ipsos announced its third quarter total revenue would be EUR 591m, with just 0.1% organic growth, and blamed the 'below expectations' figures on macroeconomic and geopolitical uncertainty in a number of markets, in particular the United States.




The full results show organic growth of a healthy 4.9% in EMEA, with double-digit growth in the Middle East and 'very good' results in Italy and Germany, among other markets - but a 'climate of uncertainty' has slowed business in its native France.





There is more detail on the effects of uncertainty in the US: activities with consumer goods players show good results, others are in 'sharp decline', such as Public Affairs and Health. Ipsos says the situation 'should improve in 2025 when the measures taken by the new management team bear fruit and political uncertainties dissipate'.





Strong performance in the biggest segment, consumer research, is driven by service lines related to innovation, customer experience and advertising creation, and the firm also says its DIY solution, Ipsos.Digital, has grown 32% in the first nine months of the year.

The group maintains an optimistic outlook based among other things on a rise in gross margin - annual operating margin target remains around 13%; continued investment in the development of platforms and solutions using generative AI and digital data collection processes, with around 70% of our employees said to be using the Ipsos Facto secured Gen AI platform 'regularly'; and a number of acquisitions which Ipsos says have 'strengthened its leadership position in several markets, notably in Public Affairs'.

Global CEO Ben Page says Ipsos remains 'confident in the robustness of its operational model'.

The group employs nearly 20,000 people and is online at www.ipsos.com .