1st half 2004: organic growth remains firm
Paris, 16 August 2004. Ipsos reported consolidated revenues of 286.0
million euros for the first half of 2004, an 8.2% increase over the same
period in 2003.
- Organic growth came in at 8.6%, well ahead of the market growth rate and that achieved by other international research companies. This increase is especially impressive given Ipsos' strong business levels in the first half of 2003.
- Newly integrated companies accounted for 3.9% of revenue growth.
- Currency effects remained substantial, albeit less so than in the year-earlier period. They dragged down revenues by 4.2% in the first half, and resulted mainly from adverse movements in the US dollar, the Canadian dollar and the Mexican peso against the euro.
Consolidated revenues
(millions euros) |
2004 |
2003 |
2002 |
Q1 |
127.1 |
118.6 |
108.4 |
Q2 |
158.9 |
145.7 |
136.1 |
1st semester |
286.0 |
264.3 |
244.5 |
Q3 |
- |
136.6 |
129.1 |
Q4 |
- |
168.8 |
164.9 |
2nd semester |
- |
305.4 |
294.0 |
Total |
- |
569.7 |
538.5 |
As in 2003, Ipsos achieved substantial organic growth in all business lines, with a particularly robust performance in advertising research.
Contribution to consolidated revenues by specialisation
(millions of euro)
|
1st semester 2004 |
1st semester 2003 |
Change
2004/2003 |
Organic growth |
Advertising Research |
65.4 |
60.5 |
8% |
14% |
Marketing Research |
149.5 |
138.7 |
8% |
7.5% |
Media Research |
25.2 |
24.1 |
5% |
6% |
Customer Satisfaction |
24.7 |
19.8 |
24% |
8% |
| Opinion & Social Research |
18.9 |
18.7 |
1% |
4% |
| Other |
2.3 |
2.5 |
- |
- |
| Revenues for 1st semester |
286.0 |
264.3 |
8.2% |
8.6% |
All regions contributed to Ipsos' growth, albeit to differing degrees.
-
Revenue growth slowed in North America. This was due in particular to many mass consumer goods companies - in industries such as food and cleaning products - leaving their research budgets unchanged. These companies, which constitute the core of Ipsos' North-American clientele, are leading the shift towards the online research system. Such a system, which contributes to the acceleration in production of information, has a positive impact on margins but also entails a limiting of revenue growth rates. However, Ipsos is performing well, particularly in the USA where, for the third consecutive year, it has been recognised by Inside Research magazine as the fastest-growing company over five years.
Contribution to consolidated revenues by geographic area
(millions of euro)
|
1st semester 2004 |
1st semester 2003 |
Change
2004/2003 |
Organic growth |
Europe |
144.3 |
134.4 |
7% |
7.5% |
North America |
102.4 |
101.6 |
1% |
6% |
Latin America |
21.4 |
19.6 |
9% |
19% |
Asia – Pacific and Middle East |
17.9 |
8.7 |
102% |
30% |
| Revenues for 1st semester |
286.0 |
264.3 |
8.2% |
8.6% |
-
In Europe, there was a clear return to growth in most of the major markets of Western Europe, as well as in Central and Eastern Europe, reflecting Ipsos' increasingly strong positions in its specialisations and with leading clients.
-
Ipsos continued its remarkable progress in Latin America, Asia-Pacific and the Middle East, where markets are growing rapidly. Ipsos is building its network in these regions in order to work with its main global clients as with a large number of local companies and institutions.
2004 outlook
The market remains buoyant, and is likely to grow by around 5%. Ipsos is maintaining its strategy of organic growth and acquisitions, and its priorities remain the same:
- to strengthen positions in key markets, i.e. the USA, UK and Asia-Pacific
- to use its specialisations to develop a specific and consistent range of services, meeting clients' increasing demand for information that explains and predicts behaviour among consumers and their own customers
- to build closer relationships with major international clients via a dedicated organisation
For full-year 2004, Ipsos confirms that it will be able to generate growth well in excess of the market rate and of a similar level to that achieved in the first half, along with an improvement in operating margin.
Note : Consolidated results for the first semester of 2004 will be released September 21, 2004 at 5.45 PM (Paris time or CET).
To download the release in its PDF version click hereafter :
French version, English version.
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Fax : + 33 1 41 98 90 50 |
Contact: Laurence Stoclet
Phone : +33 1 41 98 90 20
e.mail : laurence.stoclet@ipsos.com |