NEWS23 April 2021

Ipsos revenues increase in Q1 2021

Covid-19 Europe Financials News

FRANCE – Revenues at Ipsos rose 8.8% to €466.3m in the first quarter of 2021 compared with the same period in 2020 as the company recovers from the financial impact of Covid-19, according to its latest financial results.

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The results for the first three months of 2021 also show a 10.5% increase compared with the same period in 2019, although currency effects reduced the company’s level of revenue by 5.7%.

Ipsos said that the company’s organic growth was at 14.1% for the first three months of 2021 compared with 2020 and 2019 thanks to a very good performance in March 2021.

Broken down by region, Europe, Middle East and Africa saw a 24.8% increase to €234.5m from 2020 to 2021, while Asia-Pacific had a 5.4% rise to €77.2m.

There was a drop in revenue of 7.7% in the Americas, however, between 2020 and 2021 to a total €154.6m.

Ipsos said that regions hit earliest by Covid-19 in 2020 had rebounded the quickest, while the health situation in South and Central America meant Ipsos revenues would only recover once the pandemic was brought under control there.

Savings of around €20m compared with 2019 operating expenses are expected, Ipsos said.

In the wake of the emergence of the pandemic early last year, the company froze recruitment and planned salary increases, while its main directors and executives cut their salaries by a fifth.