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Ipsos Growth 'Better Than Anticipated'
Ipsos first quarter revenues rose 6.2% to EUR 217.3m from Q1 2007. Despite slow going in North America, global organic growth reached 9.6%, which the firm said exceeded its full-year targets.
Currency effects had a negative impact of 6.4%. Consolidation effects had an impact of 3% on first quarter 2008 revenues owing to the consolidation of Eureka, Indica Research, Markinor, ResearchPartner, and Forward Research. The acquisition of Monroe Mendelsohn, which now operates under the Ipsos Mendelsohn brand, will be consolidated from 1 April 2008.
Regionally, North America recorded slow growth, while Europe continued the recovery it began in 2007, and growth exceeded 10% in the Asia-Pacific zone.
Consolidated revenues
by geographic area
(millions of euros)
| Q1 2008 | Q1 2007 | %
change
| Organic growth | | Europe | 111.9 | 100.6 | 11.3% | 13% | | North America | 64.9 | 67.8 | (4.3%) | 2.75% | | Latin America | 20.7 | 17.9 | 15.5% | 19% | | Asia-Pacific / Middle East | 19.8 | 18.4 | 7.9% | 7.5 | | Quarterly revenues | 217.3 | 204.7 | 6.2% | 9.6% |
Ipsos ASI - the division specialising in advertising research - recorded double-digit organic growth, while success in Ipsos Public Affairs was driven by the elections in France, Italy and Spain. The firm saw 'excellent performance' in corporate and social research in North America and the UK.
Ipsos MediaCT, the new division which specialises in researching the converging media, content, telecoms and technology industries, continued to roll out its operations. Lastly, Ipsos Loyalty (quality and client relationship management) recorded a good first quarter in line with previous quarters.
Consolidated revenues
by business line
(millions of euros)
| Q1 2008 | Q1 2007 | %
change
| Organic growth | | Advertising Research | 48.5 | 45.5 | 6.7% | 11% | | Marketing Research | 98.9 | 96.6 | 2.3% | 7% * | | Media Research | 16.1 | 13.7 | 16.9% | 3% * | | Opinion and Social Research | 34.6 | 29.8 | 16.5% | 22% | | Customer Relationship Management | 19.2 | 19.1 | 0.4% | 9% | | Quarterly revenues | 217.3 | 204.7 | 6.2% | 9.6% |
At the end of April, Ipsos' order backlog was more than 10% higher (excluding currency and consolidation effects) than its level at the same point in 2007.
The firm's management reiterated its 2008 objectives of achieving organic growth of at least 8%, revenues of more than EUR 1bn and $1.5bn, and an improvement in its operating margin.
Web site: www.ipsos.com .
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