Ipsos: Return to organic growth in the second quarter in an environment that remains volatile

Core Insights - Ipsos reported a revenue of €1,155.0 million for the first half of 2025, reflecting a total growth of 1.5% despite a challenging macroeconomic environment [2][3] - The company experienced a return to organic growth in the second quarter, achieving 0.7% organic growth after a decline of -1.8% in the first quarter [3][4] - The CEO emphasized ongoing investments in technology and artificial intelligence, alongside a commitment to acquisitions, while maintaining cautious optimism regarding the macroeconomic context [4][35] Financial Performance - Total revenue for the first half of 2025 was €1,155.0 million, with a gross margin of 68.4%, slightly down from 68.5% in the previous year [17][21] - Operating profit decreased by 17.0% to €95.5 million, resulting in an operating margin of 8.3% compared to 10.1% in the same period last year [17][26] - Net profit attributable to owners of the parent was €53.2 million, down from €78.0 million in the previous year, with adjusted net profit at €72.2 million, a decrease of 12.3% [26][41] Performance by Region - EMEA region showed total growth of 6.3% in the first half, with organic growth of 0.8%, driven by the integration of infas in Germany [6][7] - The Americas experienced a decline of -2.3% in total growth, but organic growth improved to 0.6% in the second quarter, particularly in the United States [8][9] - Asia-Pacific faced challenges with a total growth decline of -3.6%, attributed to a lack of recovery in China and uncertainties in the region [9] Performance by Audience - The consumer segment reported organic growth of 0.5% in the first half, with a notable improvement to 1.6% in the second quarter [12] - The citizens segment saw a significant decline of -11.4% in organic growth, impacted by uncertainties related to electoral cycles [13] - The doctors and patients audience experienced organic growth of 5.3%, supported by innovations in healthcare [14] Strategic Developments - Ipsos is pursuing an acquisition strategy, including the finalization of the acquisition of The BVA Family, enhancing capabilities in various markets [33] - The company is also focusing on advancements in technology and artificial intelligence, particularly in synthetic data solutions [34] - A new strategic plan, Horizons 2030, is set to be presented during an Investor Day on November 19, 2025 [36]