Strong growth in third quarter 2004
Nine months to September 30:
Revenues at 427.8 million euros
Organic growth at +8.2%
Paris, November 15th, 2004. Ipsos generated consolidated revenues
of 427.8 million euros in the first nine months of 2004, an increase of
6.7% over the same period in 2003.
At constant scope and exchange rates, growth was 8.2%, once again ahead
of the market growth rate and that achieved by other international research
companies. Movements in exchange rates dragged revenues down by 4%.
The scope of consolidation has changed little since 2003, with newly-integrated
companies accounting for 2.3% of total revenues. South Korean company Active
Insights entered the scope of consolidation on January 1, 2004, and TQA
(Australia) and Hispania Research (Puerto Rico) on July 1, 2004.
|
Consolidated revenues
(in millions of euro)
|
2004
|
2003
|
2002
|
|
Q1
|
127.1
|
118.6
|
108.4
|
|
Q2
|
158.9
|
145.7
|
136.1
|
|
Q3
|
141.2
|
136.6
|
129.1
|
|
Total from January 1 to September 30
|
427.8
|
400.9
|
373.6
|
|
Q4
|
-
|
168,8
|
164.8
|
|
Full-year
|
-
|
569.7
|
538.4
|
In Ipsos' various regions and business lines, trends seen
in the first half of the year remained in place in the third quarter.
Contribution to revenues at September 30 according to sector of activity
|
Million Euros
|
2004
(9 months)
|
2003
(9 months)
|
% Change
2004/2003
|
Organic growth
2004/2003
|
|
Advertising Research
|
96.2
|
89.4
|
8%
|
13%
|
|
Marketing Research
|
232.1
|
213.6
|
9%
|
7.5%
|
|
Media Research
|
35.5
|
35.1
|
1%
|
2%
|
|
Customer Satisfaction
|
38.6
|
33.1
|
16.5%
|
9%
|
|
Opinion & Social Research
|
22.5
|
26.2
|
(14%)
|
4%
|
|
Other
|
2.9
|
3.5
|
-
|
-
|
|
Total from January 1
to September 30
|
427.8
|
400.9
|
6.7%
|
8.2%
|
Contribution to revenues at September 30 according to geographical area
|
Million Euros
|
2004
(9 months)
|
2003
(9 months)
|
% Change
2004/2003
|
Organic growth
2004/2003
|
|
Europe
|
211.1
|
200.8
|
5%
|
7%
|
|
North America
|
152.5
|
152.7
|
0%
|
6%
|
|
Latin America
|
37.1
|
32.8
|
13%
|
22%
|
|
Asia – Pacific / Middle East
|
27.1
|
14.6
|
85%
|
20%
|
|
Total from January 1
to September 30
|
427.8
|
400.9
|
6.7%
|
8.2%
|
- The renewed growth trend in Europe remained in place, despite a slight
slowdown compared to the first half of 2004, due to a less favourable base
for comparison. As previously announced, Europe will once again see a significant
rise in revenues after two stable years, with revenue growth in excess of
5%.
- In North America, organic growth stabilised at 6%. The proportion of revenues
coming from online data collection systems is continuing to rise, and is
now above 50% in some businesses. This trend is putting temporary pressure
on growth in billings.
- Other regions are continuing to post remarkable revenue growth. This highlights
the strength of the Ipsos development model, which combines strong local
positions in major countries in Latin America, Asia-Pacific and the Middle
East with sustained integration efforts as regards both major international
clients and substantial local and regional customers.
Outlook for end 2004 and 2005
Ipsos will benefit from the integration of JSR in Japan in the fourth quarter
of 2004. Ipsos organic growth should be close to levels seen in the previous
few quarters.
As regards 2005, Ipsos is confident about the effectiveness of its approach,
which is based on three principles:
- To strengthen relationships with major international clients with which
Ipsos has been working for many years.
- To focus on a specific and constantly evolving range of services, supported
by an international organisation that is arranged by business line and covers
today's major disciplines, i.e. advertising effectiveness measurement, brand
management, innovation processes and customer relationship management.
- To build strong, specialised and highly-motivated teams that work closely
with clients and are able to help them make marketing-related decisions.
Ipsos' pursuit of these principles has consistently paid off quarter after
quarter, and will continue to do so in the long term. This should enable
Ipsos to attain its business and financial targets in 2007. Ipsos' aim is
to be recognised by its clients as one of the world's largest and best companies
in its specialisations, as well as generating revenues of one billion euros
(based on an exchange rate of 1 dollar to the euro) and operating margin
of over 10%.