2025 results in line with guidance - Launch of Horizons strategic plan

Ipsos today announces its full-year 2025 results. Revenue, organic growth and operating margin rate, communicated on a preliminary basis at the Investor Day on 22 January, are confirmed.

• Revenue: €2,525 million
  • Total growth: +3.4%
  • Organic growth: +0.6%
     
• Operating margin: €309 million
  • Operating margin rate: 12.3%
  • Operating margin rate at constant scope*: 12.8%

*Excluding temporarily dilutive effect related to The BVA Family and infas acquisitions

Ipsos recorded revenue of €2,524.7 million in 2025, up 3.4%, including 0.6% organic growth, a 5.8% scope effect mainly related to the acquisitions of The BVA Family and infas, and a negative 3.0% foreign exchange impact, reflecting the appreciation of the euro against certain currencies, including the US dollar.

The uncertain political context across several geographies, combined with tighter budgetary constraints for governments, weighed on Public Affairs activity and, consequently, on Ipsos’ consolidated performance. This level of growth remains below our ambitions. The strategic plan presented last month is designed to restore a sustained and durable growth trajectory.

At the same time, the operating margin proved resilient and once again demonstrates Ipsos' financial discipline. It stands at 12.8% at constant scope and 12.3% on a reported basis, including the temporarily dilutive effect of The BVA Family and infas acquisitions.

The year 2025, as well as the beginning of 2026, was marked by several structuring events:

• The acquisitions of infas and The BVA Family, the latter being the largest acquisition completed by Ipsos since 2018. These acquisitions significantly strengthen Ipsos' position in Europe, particularly in Germany, France, Italy and the United Kingdom, as well as our expertise in packaging testing through PRS IN VIVO,
• The appointment, last September, of Jean Laurent Poitou as Chief Executive Officer, whose mandate is to return to sustainable and profitable growth,
• The resignation of Didier Truchot from his position as Chairman of Ipsos' Board of Directors for health reasons, effective February 28, 2026, and the appointment by the Board of Laurence Stoclet as President,
• The presentation, in January 2026 at the Investor Day, of Horizons, the growth strategic plan to reinforce Ipsos’ global leadership.

Read the complete press release in the Investors section