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North American Tumble Dents Ipsos Q1 Revenue
Ipsos has reported global revenues down 4.6% in Q1 2009 to EUR 207.3m compared with the same period in 2008, with negative organic growth of 5.1% and a negative currency effect of 2.3%. The firm says it has held up well in an exceptionally difficult environment.
In North America, the first quarter saw a very substantial fall of 15.5%, but the firm is anticipating that business activity will improve gradually as the months go by.
The first quarter fall was also due to the acquisition of customer satisfaction research specialist Punto de Vista in Chile, as well as acquisitions made during 2008.
Ipsos says that trends in business volumes by geographic area reflect a slowdown worldwide, although growth remained positive in the emerging countries, which account for 25% of total group revenues and posted average organic growth of more than 5%.
Consolidated revenues
by business line (millions of Euros)
|
Q1 2009 |
Q1 2008 |
%
change
|
Organic growth |
| Europe |
103.0 |
111.9 |
-8% |
-0.5% |
| North America |
60.8 |
64.9 |
-6% |
-15.5% |
| Latin America |
21.9 |
20.7 |
+6% |
+1.5% |
| Asia-Pacific / Middle-East |
21.6 |
19.8 |
-8.5% |
-2% |
| Quarterly revenues |
20.3 |
217.3 |
-4.6% |
-5.1% |
Business volumes varied significantly from one business line to another. Advertising research suffered a decline partly because fewer campaigns were tested in the first few months of 2009 and partly because of a rapid switch to online data collection systems.
In addition, Ipsos says many clients have been forced to review their marketing plans, leading them to delay decisions on their research programmes.
Consolidated revenues
by business line (millions of Euros)
|
Q1 2009 |
Q1 2008 |
%
change
|
Organic growth |
| Advertising Research |
44.8 |
48.5 |
-8% |
-8% |
| Marketing Research |
90.8 |
98.9 |
-8% |
-8% |
| Media Research |
18.5 |
16.1 |
+15.5% |
+4% |
| Opinion and Social Research |
31.6 |
34.6 |
-9% |
+1% |
| Customer Relationship Management |
21.6 |
19.2 |
+12.5% |
-0.5% |
| Quarterly revenues |
207.3 |
217.3 |
-4.6% |
-5.1% |
For the remainder of 2009, Ipsos maintains its forecast of a stable operating margin compared with 2008, thanks to a plan of 'prudent management of its cost structure, and in particular its payroll, which will be adjusted in line with the volume of business, country by country'.
w.ipsos.com">www.ipsos.com .
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