IPSOS
First quarter of 2014
As predicted, negative effect of exchange rates
impact Q1 revenue
Revenue -4.5%
Organic growth +1.5%
Paris, 23 April 2014 - Revenue at Ipsos amounted to 343.3 million euros in the first quarter of 2014, a drop of 4.5%.
Currency fluctuations, which Ipsos had indicated would "have an impact on the company's financial statements, at least in the first half of the year", reduced business volumes in euro terms by 5.5% over the period. In addition, changes in the scope of activity, which had already been outlined in 2013, reduced the basis of comparison by 0.5%.
Organic growth - at constant scope and exchange rates - was the only parameter to move in the right direction. It reached +1.5%, in line with the performances recorded in the third and fourth quarters of 2013. This level of growth was expected at this stage and does not provide an indication of the likely performance of the company over the full year. In 2013, Ipsos saw a significant reduction in its revenue in the first quarter, before returning to growth, which though modest was tangible, from spring onwards. Similarly, in 2014 the company expects figures to improve over the next three quarters.
Consolidated revenues (in millions of euros) |
2014 | 2013 | 2012 |
First quarter | 343.3 | 359.6 | 379.9 |
Second quarter | - | 444.1 | 457.1 |
Third quarter | - | 418.6 | 440.6 |
Fourth quarter | - | 490.1 | 512.0 |
Full year | - | 1 712.4 | 1 789.5 |
* at constant scope and exchange rates
Performance by region and business line
Revenue trends were comparable across the company's geographic areas. Growth in emerging markets was strong at 5.5% - at constant scope and exchange rates - whilst it remained slightly negative (at -0.5%) in developed markets due to the continuing delicate situations in the euro zone and Japan.
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By business line, the underperformance of MediaCT, the Media Research division, was merely an artefact relating to the stages reached on a certain number of major contracts. Ipsos' performance in the media and technology sectors will improve over the course of the year. With this, temporary, exception, the performance across all Ipsos specialisations was in line with their business plans.
Consolidated revenues by geographic area (in millions of Euros) |
1st quarter 2014 |
1st quarter 2013 |
Year-on-year change |
Organic growth |
EMEA | 165.7 | 167.8 | -1.2% | 1.5% |
Americas | 124.7 | 134.4 | -7.2% | 2% |
Asia-Pacific | 52.9 | 57.4 | -7.9% | 0% |
Quarterly revenues | 343.3 | 359.6 | -4.5% | 1.5% |