Ipsos: 2023 Trading update
September 14 2023 - 1:46AM
Ipsos: 2023 Trading update
Paris,
September
14, 2023 - Ipsos
experiences continued growth but at slower pace than forecasted for
2023. The Group now expects organic growth between 3% to 4%,
compared to “around 5%” at the start of the year.
This revision is mainly due to the persistence
of headwinds already mentioned in previous financial releases:
- In particular, the activity of
major Tech customers did not improve during the summer. After an
exceptional growth during the pandemic, these clients have been
experiencing a period of uncertainty since autumn 2022. Despite a
return to pre pandemic growth path, they remain major clients for
Ipsos. In addition, new opportunities related to generative
artificial intelligence arise.While our activity in North America
will be impacted by the Tech sector and below our expectations, we
anticipate a positive revenue growth in this region for 2023.
- In China, the activity remained
stable in July and August and is below our expectations, reflecting
the more general difficulties of the Chinese economy.
The revision of the 2023 growth target is hence
the result of temporary and identified adverse factors.
Our revenue organic growth will strongly improve
in the third quarter and will be significantly above 5% in the
second half.
This revenue growth acceleration combined with
the full effect of the efforts we have made since the beginning of
2022 in controlling operating costs will lead to a very significant
improvement in the operating margin in the second half compared to
the first half. We thus confirm our operating margin target for
2023 of around 13%.
A more detailed analysis of the Group's activity
will be communicated when the Q3 revenue is published on October
26.
ABOUT IPSOS
Ipsos is one of the largest market research companies in the
world, present in 90 markets and employing nearly than 20,000
people.
Our passionately curious research professionals, analysts and
scientists have built unique multi-specialist capabilities that
provide true understanding and powerful insights into the actions,
opinions and motivations of citizens, consumers, patients,
customers or employees. Our 75 solutions are based on primary data
from our surveys, social media monitoring, and qualitative or
observational techniques.
"Game Changers" – our tagline – summarizes our ambition to help
our 5,000 clients navigate with confidence our world of rapid
change.
Founded in France in 1975, Ipsos has been listed on the Euronext
Paris since July 1, 1999. The company is part of the SBF 120 and
Mid-60 indices and is eligible for the Deferred Settlement Service
(SRD).ISIN code FR0000073298, Reuters ISOS.PA, Bloomberg IPS:FP
www.ipsos.com
- Press Release - 140923 - 2023 Trading update
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