Half Year 2026 Ipsos SA Earnings Call Transcript

Jul 23, 2026 / 06:30 AM GMT

Transcript

Key Points

Positve

Ipsos SA (IPSOF) reported a return to growth with a 4.9% increase in Q2 revenue, compared to a decline in Q1 of the previous year.
The company achieved organic growth of 0.8% in the first half of 2026, with all regions returning to positive organic growth in Q2.
Ipsos SA (IPSOF) has seen significant traction with CPG clients and a rebound in China, particularly in the pharmaceutical sector.
The company's Ipsos digital platform continues to record double-digit growth, with plans to enrich the platform further in H2.
Ipsos SA (IPSOF) maintains a strong financial position with a low leverage ratio of 0.5 times EBITDA and over $450 million in undrawn credit lines.

Negative

The gross margin decreased by 70 basis points in H1 2026 due to the integration of the BVA family and changes in business mix.
Operating margin for H1 2026 was down 40 basis points compared to the previous year, partly due to seasonality.
There is a wait-and-see attitude among clients due to geopolitical uncertainties, which could impact future growth.
The company experienced a negative change in working capital of 6 million euros, reflecting the seasonality of its activities.
Ipsos SA (IPSOF) faced a 19 million euro non-recurring cost in H1, including 11 million euros in depreciations linked to halted IT projects.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ISOS.PA - Ipsos SA
Half Year 2026 Ipsos SA Earnings Call
Jul 23, 2026 / 06:30AM GMT

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Presentation
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Unidentified_1 [1]
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Bonjour.

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Unidentified_2 [2]
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Good morning and thank you for attending this presentation of the half-year results.

We'll tell you about our main figures and achievements for the half-year as well as the.

Ramp up of some of the initiatives taken as part of the Horizon Program and then the outlook for the rest of the year.

We will take a look at some of the key figures. Olivier Champollier, CFO, will give you more details about that. Then we'll move on to recent developments with the Horizon Program and then the outlook for 2026. Let's start

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