First quarter of
2015
Sharp increase spurred by
currency exchange rates
Initial impact of the "New Way" plan
Revenue: €379.6 million, +10.6%
Total organic growth +0.8%
Organic growth of new services* +27%
Paris, 22 April
2015 - For the first quarter of 2015, Ipsos' revenue stands at
€379.6 million, up 10.6% compared with the same period in 2014.
This increase is mainly due to
changes in currency exchange rates, in particular the strong
revaluation of the US dollar, pound sterling and RMB against the
euro. Changes in the scope of activity have had a negative effect
(0.6%). On the other hand, organic growth - at constant scope and
exchange rates - stands at +0.8%.
This growth rate, which is slightly below the year's target of
between 1 and 2%, is satisfactory for three reasons. In terms of
organic growth, the first quarter of 2014 was the best of the year
(1.5% growth versus 0.3% for the year as a whole). The "new
services" are starting to gain momentum with an increase (albeit
from a low starting point) of 27% in developed markets, with the
understanding that their rollout in emerging markets will start in
the second part of the year.
Lastly, at the end of last year and the beginning of 2015, Ipsos'
activities were severely disrupted in certain emerging markets such
as, but not solely, Russia, Ukraine and the Middle East, before
stabilising at the end of the quarter.
Consolidated revenues
(in millions of euros) |
2015 |
2014 |
2013 |
1st quarter |
379.6 |
343.3 |
359.6 |
2nd quarter |
- |
412.7 |
444.1 |
3rd quarter |
- |
412.8 |
418.6 |
4th quarter |
- |
500.7 |
490.1 |
Full-year |
- |
1,669.5 |
1,712.4 |
* In developed markets
Performance by
region and business line
At this stage of the year,
performance by region is not very significant as the business
volumes on which they are based are limited. Nonetheless, Ipsos is
satisfied with the good results achieved in the United States, the
UK, Germany and France, as well as China, Japan and certain major
Latin American markets.
The major difference with previous periods is the absence of
divergence between the performance of developing countries - which
had previously recorded rapid growth - and that of developed
markets, which had recorded disappointing performance in recent
years. On the one hand, our business was impacted by the
geopolitical unrest mentioned earlier, as well as financial crises
- for example in Argentina and Venezuela. On the other hand, a
better environment and the growing impact of the "new services"
provide some satisfaction concerning the now visible recovery of
"mature" markets - a recovery which was very slow in coming - but
most importantly, they provide confidence for the upcoming
quarters. The disappointing performance of developing countries -
it is the first time in the history of Ipsos that they have
under-performed over a quarter - should not last, even though their
short-term development is difficult to predict due to the numerous
serious risks still present.
Consolidated revenues by geographical area
(in millions of euros) |
1st quarter
2015 |
1st quarter
2014 |
Change 2015/2014 |
Organic growth |
Europe,
Middle East and Africa |
168.9 |
165.7 |
1.9% |
-0.5% |
Americas |
147.3 |
124.7 |
18.1% |
1% |
Asia-Pacific |
63.4 |
52.9 |
19.9% |
4% |
Quarterly revenues |
379.6 |
343.3 |
10.6% |
0.8% |
Emerging countries represent 32%
of Ipsos' business with 0.5% organic growth. Developed countries
recorded an organic growth of 1%.
Consolidated revenues by business line
(in millions of euros) |
1st quarter
2015 |
1st quarter
2014 |
Change 2015/2014 |
Organic growth |
Media and
Advertising Research |
90.1 |
85.7 |
5.1% |
-2% |
Marketing
Research |
199.8 |
177.9 |
12.3% |
1% |
Opinion
& Social Research |
41.8 |
35.4 |
17.9% |
7.5% |
Client
and employee relationship management |
48.0 |
44.3 |
8.2% |
1.5% |
Quarterly revenues |
379.6 |
343.3 |
10.6% |
0.8% |
By business line, the performance
levels are the same in the first quarter of 2015 as in 2014. The
teams in charge of opinion polls and social research continue to
achieve highly successful results in all local and international
markets.
According to Meltwater News Monitoring Service, a global media
monitoring service, in the first quarter of 2015, Ipsos was for the
first time the world's most quoted source in market research, in
both traditional and digital media, with the understanding that, in
this age of fragmentation of media and information broadcasting
channels, a media coverage survey cannot pretend to be exhaustive.
This
performance, in the year of Ipsos' fortieth anniversary, deserves
particular mention. Jean-Marc Lech, the Co-President of Ipsos who
sadly passed away much too soon at the end of last year, liked to
say that "there is no such thing as a silent expert". One of the
cornerstones of Ipsos' strategy is to be a known and recognised
source, associated with reliable, relevant and, of course,
exclusive information, quoted by the media whenever
possible.
The other business lines are progressing as expected, including
Ipsos Connect, the new Ipsos entity dedicated to helping the
company's clients better manage their brand expressions and their
ideas in a media environment profoundly transformed by
digitalisation. Ipsos Connect is working on the creation and
rollout of new offers combining brand knowledge, the creation and
control of advertising expressions, and media measurement. The full
benefits of these new offers will be felt in a few quarters'
time.
Other information
about operating conditions in the first quarter
The operating margin is in line
with the targets announced for 2015. Net gearing decreased to 57%
compared with the 31 December 2014 level (61%) despite the
unfavourable evolution of the US dollar, (59% of the financial debt
is registered in dollar). Free cash flow from operations was
significantly higher in the first quarter of 2015 than in the same
period last year.
Our perspective remains unchanged.
Ipsos is still forecasting modest growth this year (between 1 and
2%), at constant scope and exchange rates, and an operating margin
of 10%, after the additional costs generated by the "New Way"
project.
The "New Way" programme is progressing. The company is working on
the simplification of its organisation, the efficiency of its
operations, the better allocation and management of its human,
scientific and technological resources, as well as on enhanced
visibility of its brand, its mission and its ambitions.
Through the "New Way" project, Ipsos is primarily seeking to
transform its offer, in line with the new needs of its clients,
whether big or small, international or local.
Several years ago, Ipsos stopped being just a survey-based research
company, even though our clients continue to purchase numerous
projects based on surveys among customers, consumers and citizens
via electronic or more classic collection methods. The recent
launch of new location-based services using specific resources
deployed by Google in the United States, making it possible to
survey customers in shops or other on-site venues via their mobile
phones, proves (if proof were necessary) that survey-based research
protocols have a long life ahead of them. But we also know that, at
a time when sources of information are proliferating, while
technology allows the collection, storage and analysis of huge
flows of new data which doubtless holds a wealth of information on
individual behaviours and feelings, our services must integrate
these without delay, in order to enable us to radically improve the
relevance of our services and, ultimately, their ability to
measure, explain and predict.
The rapid development of the "new services", made possible by our
teams' commitment and unprecedented investment, testifies to the
new way that Ipsos has decided to build and to take.
Our first steps on this new way are encouraging. They confirm the
extreme importance given by our clients to the need for accurate
and relevant information that will help them make better decisions
and improve their competitive positions.
Beyond any residual difficulties encountered in this or that
market, Ipsos' teams, who are Game Changers par excellence, have
what it takes to return to a path of profitable, sustainable
growth.
Next publication:
22 July 2015, first-half results.
About
Ipsos
Ipsos ranks third in the global
research industry. With a strong presence in 87 countries, Ipsos
employs more than 16,000 people and has the ability to conduct
research programs in more than 100 countries. Founded in France in
1975, Ipsos is controlled and managed by research professionals.
They have built a solid Group around a multi-specialist positioning
- Media and advertising research; Marketing research; Client and
employee relationship management; Opinion & social research;
Mobile, Online, Offline data collection and delivery -. Ipsos has
been listed on the Paris Stock Exchange since 1999.
GAME CHANGERS
« Game Changers » is the Ipsos signature.
At Ipsos we are passionately curious about people, markets, brands
and society.
We make our changing world easier and faster to navigate and
inspire clients to make smarter decisions.
We deliver with security, speed, simplicity and substance. We are
Game Changers.
Ipsos is
listed on Eurolist - NYSE-Euronext.
The company is part of the SBF 120 and the Mid-60 index
and is eligible for the Deferred Settlement Service (SRD).
ISIN code FR0000073298, Reuters
ISOS.PA, Bloomberg IPS:FP
www.ipsos.com
Ipsos: First quarter of
2015
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: IPSOS via Globenewswire
HUG#1913494
Ipsos (EU:IPS)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Ipsos (EU:IPS)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024