France's Ipsos Q1 revenue falls on forex impact

Ipsos SA

16/04/2026 16:55

Overview

France market research firm's Q1 revenue declined 2.4% to €554.9 mln, organic growth -1.4%

Company's results impacted by -5.4% FX effects, mainly euro appreciation vs US dollar

Order book organic growth 1% at end-March, driven by rebound in Public Affairs and China

Outlook

Ipsos maintains 2026 organic growth target of 2%-3%

Company expects 2026 operating margin to match 2025 level

Ipsos sees double-digit growth in 2026 for Globally Managed Services and Synthesio platform

Result Drivers

BVA FAMILY INTEGRATION - Integration of The BVA Family supported growth in EMEA, offsetting some negative impacts from Russia deconsolidation

PUBLIC AFFAIRS REBOUND - Recovery in Public Affairs demand, especially in the US and France, contributed to positive order book momentum

CHINA IMPROVEMENT - Significant improvement in China, helped by rapid adoption of artificial intelligence technologies and demand from major local clients

Company press release: ID:nGNE4CQWlr

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 554.9 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the advertising & marketing peer group is "buy"

Wall Street's median 12-month price target for Ipsos SA is €52.50, about 35.9% above its April 15 closing price of €38.64

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)