Ipsos

Continued momentum in Q1 - Seite 2

Activity in the Americas is down 3.2%. In the United States, the performance is mixed from one service line to another. We observe a moderate recovery with most major Tech clients, while our service lines dedicated to consumers are performing well. However, our Public Affairs business is suffering from the end of a few major and non-recurring contracts and a certain wait-and-see attitude ahead of the upcoming presidential election. Our Healthcare activity is temporarily down but should recover in the coming months. Furthermore, a strengthened managerial organization will be put in place in North America from the beginning of May, in order to support our ambition in this region. Although the market will remain difficult, we expect performance to improve in the second half of the year: our order book is ahead of the quarterly revenue position in the US. Latin America records good growth momentum.

The Asia-Pacific region records organic growth of over 9% for the quarter. India and Southeast Asia continue their momentum with double-digit growth rates. China is growing slightly, although the lack of macroeconomic visibility calls for caution.

PERFORMANCE BY AUDIENCE

€m	Q1 2024 Revenue	Contribution	Total growth	Organic growth
Consumers1	278.7	50%	9.3%	10.2%
Clients and employees2	112.6	20%	1.2%	1.3%
Citizens3	87.7	16%	2.5%	-3.6%
Doctors and patients4	78.5	14%	-2.1%	-0.9%
Revenue	557.5	100%	4.8%	4.5%

Breakdown of Service Lines by audience segment:
1- Brand Health Tracking, Creative Excellence, Innovation, Ipsos UU, Ipsos MMA, Market Strategy & Understanding, Observer (excl. public sector), Ipsos Synthesio, Strategy3
2- Automotive & Mobility Development, Audience Measurement, Customer Experience, Channel Performance (Mystery Shopping and Shopper), Media Development, ERM, Capabilities
3- Public Affairs, Corporate Reputation
4- Pharma (quantitative and qualitative)

Our consumer-related activities record double-digit growth, which reflects a good performance by consumer goods players. This performance is mainly driven by our service lines focused on innovation, market positioning, brand health and qualitative studies.