Ipsos cuts growth estimates for 2024 as revenue stalls in Q3

The figures show that total third-quarter revenue was at around €591m with 0.1% organic growth for the past three months, which was deemed to be “below expectations” by Ipsos.

The company said that it did not expect a significant rebound before the end of the year and revised its annual growth target to around 1% for 2024.

In contrast, Ipsos’ results for the first half of the year showed revenue had risen by 4.7% to a total €1.139bn.

There was, however, an improvement in gross margin in the third quarter – up by nearly 5% in gross margin since the beginning of the year – and the company said that good financial discipline would allow it to continue investing while maintaining its annual operating margin target of around 13%.

Ipsos said it had achieved solid growth in continental Europe, the Middle East and Latin America but had slowed down since the beginning of the summer in France and in some Asian countries due to macroeconomic and political uncertainties.

However, it was a “difficult situation” in the US that had impacted most on growth, and the company said new management since the summer in the country should allow for improvement in 2025.

Excluding the US, Ipsos’ organic growth stood at 5.6% since the beginning of the year and 4% in the third quarter alone.

A strategic review was launched by Ipsos in September, with conclusions expected before summer 2025, and more detailed analysis of the company’s activity will be released on 24^th October 2024 alongside its third-quarter revenue figures.