Good profitability and cash flow generation despite slower growth in 2024
2024 key figures
- Revenue: €2,441 million (+2.1% compared to 2023)
- organic growth: +1.3%
- external growth: +2.3%
- Operating margin rate: 13.1%
- Free cash flow generation: €216 million
Ben Page, CEO of Ipsos, stated:
"Despite slowing growth, the improvement in gross margin and careful cost management enabled us to deliver a good level of profitability. Ipsos’ financial health is also reflected in strong cash generation, virtually debt-free status and Investment Grade ratings by Moody’s and Fitch. Our recent acquisitions have cemented our leadership in Public Affairs and Data Analytics. Finally, we will continue to invest in our panels, platforms and Generative AI to deliver even faster cutting-edge insights to our clients."
Ipsos recorded sales of €2,440.8 million in 2024, a 2.1% increase, including 1.3% organic growth, 2.3% from acquisitions and a 1.5% negative currency effect. While growth was satisfactory in Europe, Latin America and the Middle East, it was impacted by a weaker-than-expected performance in the United States and by a slowdown in the business climate in the second half of the year, particularly in the United Kingdom, France and certain Asian countries.
At the same time, the operating margin reached 13.1%. This reflects the good momentum of gross margin, driven by investment in technology, platforms and panels, combined with strong financial discipline. The gross margin grew by 120 bps. The Group also generated €216 million in free cash flow, up €47 million on the previous year.
Read the complete press release in the Investors section.
