Earnings Release • Feb 15, 2023
Earnings Release
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Annual revenue 2022: €2,405.3 million
Total growth: 12.0%
Organic growth: 5.6%
Paris, February 15, 2023 - Ipsos achieved a strong performance in 2022, with a record level of profitability, demonstrating the strength and relevance of its operating model.
Growth for the year as a whole was 12.0%, including 5.6% organic growth (and 5.8% currency effects), despite a macroeconomic and geopolitical context made difficult by the war in Ukraine, the Chinese government's zero Covid policy, strong inflationary pressures in many regions, and the resulting tightening of monetary policies. Excluding the temporary net impact of Covid-related contracts, underlying organic growth was 8%.
Total organic growth amounted to 25% over two years and 16% over three years including 2020.
In the 4th quarter, our business grew by 8.8%, including nearly 4% organic growth (5% excluding the net impact of Covid-related contracts), marking a slight slowdown compared to the 3rd quarter in certain markets and in particular in China.
| 2022 vs. 2021 | |||||
|---|---|---|---|---|---|
| In millions of Euros | 2022 Revenue |
Total growth |
Organic growth |
||
| 1 st quarter |
547.8 | 17.5% | 12.3% (1) | ||
| nd quarter 2 |
574.0 | 8.9% | 2.1% | ||
| 3 nd quarter |
601.5 | 14.3% | 5.3% | ||
| nd quarter 4 |
682.1 | 8.8% | 3.8%* | ||
| Revenue | 2,405.3 | 12.0% | 5.6%* |
(1) Covid-related contracts continued in the first quarter of 2022
* Underlying organic growth was 5% in the fourth quarter and 8% for the year 2022, excluding the temporary net positive impact of Covid-related contracts (specific pandemic monitoring projects for governments, minus contracts that could not be executed because of the health situation).
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
| 2022 vs. 2021 | ||||||
|---|---|---|---|---|---|---|
| In millions of Euros |
2022 Revenue |
Contribution | Total growth |
Organic growth | ||
| EMEA | 1,025.7 | 43% | 1.1% | 0% | ||
| Americas | 965.5 | 40% | 24.9% | 12% | ||
| Asia Pacific | 414.1 | 17% | 15.3% | 9% | ||
| Revenue | 2,405.3 | 100% | 12.0% | 5.6% |
Our activity in the EMEA region remained stable overall, penalized by the war in Ukraine and the end of Covid contracts. Taking out the impact of these contracts, the underlying organic business grew by more than 4% in 2022. In particular, Italy and France recorded good results.
Ipsos posted its best performance in the Americas, with double-digit growth in North and Latin America, driven in particular by our Public Affairs, Healthcare, GAFA activities and our Ipsos.Digital platform.
Asia Pacific posted organic growth of 9%. It reflects very contrasting realities, between China, which showed slow growth this year (1.5%) due to repeated lockdowns, and the rest of Asia Pacific, which showed very dynamic growth of 15%, particularly in India and Korea.
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
| In millions of Euros | 2022 Revenue |
Contribution | 2022 vs 2021 Organic growth |
|---|---|---|---|
| Consumers1 | 1,125.8 | 47% | 11% |
| Clients and employees2 | 495.1 | 20.5% | 6.5% |
| Citizens3 | 386.2 | 16% | -8.5% |
| Doctors and patients4 | 398.2 | 16.5% | 6% |
| Revenue | 2,405.3 | 100% | 5.6% |
Breakdown of Service Lines by audience segment:
1- Brand Health Tracking, Creative Excellence, Innovation, Ipsos UU, Ipsos MMA, Market Strategy & Understanding, Observer (excl. public sector), Social Intelligence Analytics, Strategy3
2- Automotive & Mobility Development, Audience Measurement, Customer Experience, Channel
Performance (including Retail Performance and Mystery Shopping), Media development, Capabilities 3- Public Affairs, Corporate Reputation
4- Pharma (quantitative and qualitative)
In a re-opened world in 2022 (with the notable exception of China) and despite inflationary pressures and disruptions in our clients' supply chains, it is in our consumer insight business that we are recording the strongest growth (11% organic growth). This reflects our clients' need to understand the evolution of consumer behavior in an inflationary context, which is experiencing both an energy crisis and a growing awareness of the need to act to protect the planet.
The client and employee audience also performed well with organic growth of 6.5%, resulting from the reopening of economies, the resumption of travel and the activity of the hotel sector, but also from our clients' growing interest in measuring shopping experiences across omni channels.
After a very strong growth in the 2020-2021 period, driven by Covid testing programs in Europe, our citizens business declined in 2022. However, the underlying of the Public Affairs business excluding Covid contracts recorded double-digit growth, reflecting the need for governments and institutions to understand the dynamics of public opinion and citizens' expectations in a world marked by multiple crises.
Finally, our doctors and patients' research grew organically by 6%.
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
| In millions of Euros | 2022 | 2021 | 2022 / 2021 Change |
|---|---|---|---|
| Revenue | 2,405.3 | 2,146.7 | 12.0% |
| Gross margin | 1,594.1 | 1,389.3 | 14.7% |
| Gross margin / Revenue | 66.3% | 64.7% | 1.6 pt |
| Operating margin | 314.7 | 277.4 | 13.5% |
| Operating margin / Revenue | 13.1% | 12.9% | 0.2 pt |
| Other non-recurring / recurring income and expenses |
3.7 | -5.5 | |
| Finance costs | -13.2 | -13.8 | -4.5% |
| Other finance costs | -3.5 | -4.4 | -19.7% |
| Income tax | -72.8 | -62.9 | 15.7% |
| Net profit attributable to owners of the parent |
215.2 | 183.9 | 17.0% |
| Adjusted net profit* attributable to owners of the parent |
232.4 | 209.2 | 11.1% |
*Adjusted net profit is calculated before (i) non-cash items related to IFRS 2 (share-based compensation), (ii) amortization of acquisition-related intangible assets (client relations), (iii) the impact net of tax of other nonrecurring income and expense, (iv) the non-monetary impact of changes in puts in other financial income and expenses and (v) deferred tax liabilities related to goodwill for which amortization is deductible in some countries.
The gross margin (which is calculated by deducting external and variable costs associated with contract performance from revenue) is up 160 basis points to 66.3% compared with 64.7% in 2021. This increase is linked to the change in the mix of data collection methods and is explained by (i) the termination during the first quarter of 2022 of the major pandemic monitoring contracts (whose collection costs were higher than average) and (ii) the structural continuation of the increase in the proportion of online surveys, which rose from 62% in 2021 to 65% in 2022 (iii) the Group's ability to maintain its prices in a context of high inflation.
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
With regard to operating costs, the payroll increased by 16.2% in a context of (i) a resumption of recruitment to cope with the growth in activity (these were significantly slowed down during the pandemic and at the beginning of 2021) and (ii) higher inflation. The increase in payroll remains contained, however, since it represents (including provisions for bonuses) 65.3% of gross margin, compared with 67% in 2019.
The cost of variable compensation in shares increased to €14.4 million from €12.1 million in 2021 due to share price rise.
Overhead costs increased by nearly €32 million, an increase of 17.4% compared to 2021 due to (i) the recovery in travel in 2022 – travel expenses, however, remain 35% below the level of 2019 and (ii) a catch-up of IT current expenses which had been severely constrained during the pandemic. Overall and despite these catch-up effects, overhead costs remain contained in relation to the pre-crisis level and represented 13.5% of gross profit compared with 17% in 2019.
"Other operating income and expenses", which consists mainly of severance costs, showed a negative balance of €8.6 million, a decrease of €11.8 million compared with the previous year, partly impacted by operating exchange gains linked to the appreciation of the US dollar and other currencies against the euro.
Overall, the Group's operating margin is 13.1%, up 20 points compared to 2021, establishing a record performance.
Below the operating margin, the amortization of intangible assets related to acquisitions concerns the portion of goodwill allocated in particular to customer relations during the 12 months following the date of acquisition and was amortized in the income statement according to IFRS standards over several years. This allocation amounts to €7.4 million compared to €5.3 million previously. This increase is mainly due to the acquisitions of Karian & Box and Infotools.
The balance of other non-current and non-recurring income and expenses amounted to €3.7 million. This item records in particular changes in commitments to buy back of minority shareholders as well as income related to the decision to capitalize internal development costs since January 2018. This latest effect ended in 2022.
Finance costs. The net interest expense amounted to €13.2 million compared to €13.8 million last year, due to (i) a decrease in financial debt in relation to good cash generation and (ii) a renewal and extension of the maturity of a "Shuldschein" loan for an amount revised downwards at the end of 2021.
The effective tax rate on the IFRS income statement was 24.8% compared to 25.2% last year. It includes a deferred tax liability of €2.2 million, which cancels out the tax savings achieved through the tax deductibility of goodwill amortization in certain countries, even though this deferred tax expense would only be due in the event of the disposal of the activities concerned (and is therefore restated in adjusted net profit).
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
Net profit attributable to the owner of the parent was €215 million compared to €184 million in 2021, up 17.0%.
Adjusted net profit attributable to the owner of the parent, which is the relevant and constant indicator used to measure performance, is also up to €232 million compared to €209 million in 2021, up 11%.
Cash flow. The gross operating cash flow position stands at €402 million compared to €373 million in 2021.
The working capital requirement experienced a negative change of €14 million, due on the one hand to the increase in activity, and on the other hand to larger bonus payments in 2022, following an excellent performance in 2021.
Investments in property, plant and equipment and intangible assets consist mainly of investments in IT infrastructure, technology and R&D. They amounted to €55 million, up €11 million compared to 2021. They mark the implementation of the 2025 strategic plan, which provides for a significant increase in investments in our platforms, particularly Ipsos.Digital, Askia and Infotools.
Overall, free cash flow from operations, at €214 million, was higher than the forecast for the year, down €30 million compared to last year, due as explained above to the increase in activity, the payment of bonuses for 2021 and the increase in investments in IT, technology and R&D infrastructures.
As regards non-current investments, Ipsos invested approximately €7.3 million in the form of an earn-out payment relating to the acquisitions of Karian&Box and Infotools and for the acquisition of WeCheck, a small size company specialized in Mystery Shopping in Canada.
Finally, financing operations included, in 2022:
Shareholders' equity stood at €1,500 million at December 31, 2022 compared to €1,342 million at December 31, 2021.
Net financial debt amounted at €69 million, down compared to December 31, 2021 (€180 million). The net debt ratio fell to 4.6% from 13.4% at December 31, 2021. The
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
leverage ratio (calculated excluding the IFRS16 impact) was 0.2 times EBITDA (compared to 0.5 times at December 31, 2021).
Cash position. Cash at December 31, 2022 amounted to €386 million compared to €298 million at December 31, 2021. The Group also has more than €480 million in credit lines available for more than one year, enabling it to meet its €77 million debt repayments in 2023 and 2024.
After a solid year in 2022 and a record level of profitability, we can leverage the strengths of the Ipsos model:
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
We are confident in our ability to deliver the financial targets announced in our strategic plan last June: €3 billion in revenue by 2025 (including acquisitions) with organic growth of 5-7% on average per year over 2022-2025, and an operating margin above 13% by the end of the period and 15% over the long term.
At the same time, 2023 sees continuing macroeconomic and geopolitical uncertainties. The war in Ukraine and the energy crisis, combining with the release of pent-up demand post Covid led to inflation in production prices, not experienced for several decades. While inflation appears to be easing overall, underlying inflation (excluding food and energy prices) has not peaked. Moreover, the significant tightening of monetary policies could limit the resumption of economic growth this year.
That said, the outlook for 2023 is more favourable than a few months ago, thanks in particular to (i) the resilience of labour markets, (ii) the capacity to adapt to energy tensions, (iii) the anticipated rebound of China after the abandonment of the zero Covid policy. Uncertainties also represent opportunities for Ipsos. Both companies and governments have an increased need to understand the dynamics of consumption and public opinion in a world increasingly sensitive to social and environmental issues and in a context of multiple crises.
In all, we anticipate organic growth of around 5% and an operating margin of around 13% this year. Business growth will be sequential in 2023: first quarter performances will be affected by an unfavourable base effect associated to the strong growth in business at the beginning of 2022. These timing effects having passed, we expect activity to rebound in line with the improvement in the global situation (particularly in China) and in comparison with the last three quarters of 2022, when growth was less strong.
In addition, the experience of the last three years has shown the resilience of the Ipsos model. Our geographic diversification, our multi-sector approach (particularly in structurally growing and even counter-cyclical sectors such as Public Affairs and Healthcare), the low concentration of our client portfolio and our ability to rapidly reduce our costs, if the outlook would become less buoyant, are all assets and stabilizers in a global context of uncertainties.
The Board of Directors will propose an increased dividend payment of €1.35 per share at the General Meeting in May. Finally, we plan to continue our policy of buying back shares for cancellation, for around €50 million in 2023.
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
The presentation of the 2022 annual results will take place via webcast at 8.30AM CET on Thursday, February 16, and at 4PM CET via conference call. If you wish to register, please contact [email protected].
***
A replay will also be available on Ipsos.com
The complete consolidated financial statements as of December 31, 2022, are available on Ipsos.com
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
| In thousands of euros | 12/31/2022 | 12/31//2021 |
|---|---|---|
| Revenue | 2,405,310 | 2,146,725 |
| Direct costs | (811,236) | (757,391) |
| Gross margin | 1,594,074 | 1,389,334 |
| Employee benefit expenses – excluding share-based payments | (1,041,565) | (896,461) |
| Employee benefit expenses - share-based payments* | (14,355) | (12,071) |
| General operating expenses | (214,875) | (183,043) |
| Other operating income and expenses | (8,582) | (20,381) |
| Operating margin | 314,697 | 277,378 |
| Amortization of intangible assets identified on acquisitions* | (7,414) | (5,274) |
| Other non-operating income and expenses * | 3,723 | (5,486) |
| Share of profit/(loss) of associates | (862) | 1,671 |
| Operating profit | 310,145 | 268,289 |
| Finance costs | (13,214) | (13,837) |
| Other financial income and expenses | (3,545) | (4,413) |
| Net profit before tax | 293,386 | 250,038 |
| Income tax – excluding deferred tax on goodwill amortization | (70,556) | (58,303) |
| Deferred tax on goodwill amortization* | (2,249) | (4,608) |
| Income tax | (72,805) | (62,911) |
| Net profit | 220,581 | 187,127 |
| Attributable to the owners of the parent | 215,160 | 183,924 |
| Attributable to non-controlling interests | 5,421 | 3,204 |
| Basic net profit per share attributable to the owners of the parent (in euros) | 4.87 | 4.14 |
| Diluted net profit per share attributable to the owners of the parent (in euros) |
4.74 | 4.04 |
| Adjusted net profit* | 240,339 | 212,205 |
|---|---|---|
| Attributable to the owners of the parent | 232,393 | 209,224 |
| Attributable to non-controlling interests | 7,946 | 2,982 |
| Adjusted net profit per share, attributable to the owners of the parent | 5.26 | 4.71 |
| Adjusted net profit per share, attributable to the owners of the parent | 5.12 | 4.59 |
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
Annual financial statements for the year ended December 31, 2022
| In thousands of euros | 12/31/2022 | 12/31/2021 |
|---|---|---|
| ASSETS | ||
| Goodwill | 1,370,637 | 1,360,464 |
| Right-of-use assets | 118,383 | 122,935 |
| Other intangible assets | 110,083 | 98,899 |
| Property, plant and equipment | 33,512 | 31,340 |
| Investments in associates | 6,048 | 8,919 |
| Other non-current financial assets | 59,703 | 51,961 |
| Deferred tax assets | 24,788 | 25,223 |
| Non-current assets | 1,723,155 | 1,699,741 |
| Trade receivables | 547,167 | 555,496 |
| Contract assets | 115,872 | 107,114 |
| Current tax | 12,736 | 14,045 |
| Other current assets | 66,522 | 62,720 |
| Financial derivatives | - | - |
| Cash and cash equivalents | 385,670 | 298,454 |
| Current assets | 1,127,967 | 1,037,830 |
| TOTAL ASSETS | 2,851,122 | 2,737,571 |
| In thousands of euros | 12/31/2022 | 12/31/2021 |
| EQUITY AND LIABILITIES | ||
| Share capital | 11,063 | 11,109 |
| Share paid-in capital | 495,628 | 508,259 |
| Treasury shares | (548) | (643) |
| Other reserves | 867,211 | 746,221 |
| Translation adjustments | (107,392) | (115,406) |
| Net profit, attributable to the owners of the parent | 215,160 | 183,924 |
| Equity, attributable to the owners of the parent | 1,481,121 | 1,333,466 |
| Non-controlling interests | 18,808 | 8,963 |
| Equity | 1,499,929 | 1,342,429 |
| Borrowings and other non-current financial liabilities | 375,256 | 448,561 |
| Non-current liabilities on leases | 95,625 | 102,421 |
| Non-current provisions | 4,726 | 7,025 |
| Provisions for post-employment benefit obligations | 35,938 | 36,255 |
| Deferred tax liabilities | 72,831 | 66,458 |
| Other non-current liabilities | 38,011 | 45,549 |
| Non-current liabilities | 622,387 | 706,270 |
| Trade payables | 349,970 | 332,239 |
| Borrowings and other current financial liabilities | 79,541 | 30,349 |
| Current liabilities on leases | 36,574 | 34,923 |
| Current tax | 23,855 | 25,463 |
| Current provisions | 9,617 | 9,967 |
| Contract liabilities | 51,716 | 64,329 |
| Other current liabilities | 177,533 | 191,603 |
| Current liabilities | 728,806 | 688,873 |
| TOTAL LIABILITIES | 2,851,122 | 2,737,571 |
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
| In thousands of euros | 12/31/2022 | 12/31/2021 |
|---|---|---|
| OPERATING ACTIVITIES NET PROFIT |
220,581 | 187,127 |
| Non-cash items | ||
| Amortization and depreciation of property, plant and equipment and intangible assets | 88,192 | 79,839 |
| Net profit of equity-accounted companies, net of dividends received | 862 | (1,671) |
| Losses/(gains) on asset disposals | 187 | (164) |
| Net change in provisions | (6,623) | 17,985 |
| Share-based payment expense | 13,116 | 11,153 |
| Other non-cash income/(expenses) | (4,989) | (2,459) |
| Acquisition costs of consolidated companies | 498 | 882 |
| Finance costs | 17,293 | 17,349 |
| Tax costs | 72,805 | 62,911 |
| CASH FLOW FROM OPERATIONS BEFORE TAX AND FINANCE COSTS | 401,923 | 372,952 |
| Change in working capital requirement | (14,365) | 33,538 |
| Income tax paid | (62,511) | (60,519) |
| NET CASH FROM OPERATING ACTIVITIES | 325,047 | 345,972 |
| INVESTING ACTIVITIES | ||
| Acquisitions of property, plant and equipment and intangible assets | (54,824) | (43,512) |
| Proceeds from disposals of property, plant and equipment and intangible assets | 594 | 128 |
| (Increase)/decrease in financial assets | (3,114) | (2,003) |
| Acquisitions of consolidated activities and companies, net of acquired cash | (7,284) | (29,079) |
| CASH FLOW FROM INVESTING ACTIVITIES | (64,627) | (74,466) |
| FINANCING ACTIVITIES | ||
| Share capital increases/(reductions) | (46) | - |
| Net (purchases)/sales of treasury shares | (29,898) | (8,694) |
| Increase in long-term borrowings | (985) | 75,570 |
| Decrease in long-term borrowings | (30,086) | (167,480) |
| Increase in long-term loans from associates | - | - |
| Decrease in long-term loans from associates Increase/(decrease) in bank overdrafts |
(763) | 5,704 (1,033) |
| Net repayment of lease liabilities | (37,480) | (40,308) |
| Net interest paid | (12,606) | (13,012) |
| Net interest paid on lease obligations | (4,081) | (3,599) |
| Acquisitions of non-controlling interests | (2,222) | (956) |
| Dividends paid to the owners of the parent | (51,066) | (39,820) |
| Dividends paid to non-controlling interests in consolidated companies Dividends received from non-consolidated companies |
(1,409) | (1,984) 52 |
| NET CASH FROM FINANCING ACTIVITIES | (170,642) | (195,561) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 89,778 | 75,945 |
| Impact of foreign exchange rate movements | (2,562) | 6,559 |
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 298,454 | 215,951 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 385,670 | 298,454 |
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
| Equity | ||||||||
|---|---|---|---|---|---|---|---|---|
| In thousands of euros | Share capital |
Share paid in capital |
Own shares |
Other reserves |
Translation adjustments |
Attributable to the owners of the parent |
Non controlling interests |
Total |
| Position at January 1, 2021 |
11,109 | 515,854 | (9,738) | 771,776 | (185,192) | 1,103,809 | 18,157 | 1,121,966 |
| Change in share capital | - | - | - | - | - | - | - | - |
| Dividends paid | - | - | - | (39,820) | - | (39,820) | (1,984) | (41,804) |
| Effects of acquisitions and commitments to buy out non-controlling interests |
- | - | - | 9,184 | - | 9,184 | (11,176) | (1,992) |
| Delivery of treasury shares under the bonus share plan |
- | (7,596) | 31,951 | (10,970) | - | 13,386 | - | 13,386 |
| Other movements in own shares |
- | - | (22,861) | 308 | - | (22,552) | - | (22,552) |
| Share-based payments taken directly to equity |
- | - | - | 11,153 | - | 11,153 | - | 11,153 |
| Other movements | - | - | - | 1,519 | - | 1,519 | (272) | 1,247 |
| Transactions with the shareholders |
- | (7,596) | 9,090 | (28,626) | - | (27,131) | (13,432) | (40,563) |
| Net profit | - | - | - | 183,924 | - | 183,924 | 3,204 | 187,127 |
| Other comprehensive income |
- | - | - | - | - | - | - | - |
| Net investment in a foreign operation and related hedges |
- | - | - | - | 32,990 | 32,990 | (459) | 32,532 |
| Deferred tax on net investment in a foreign operation |
- | - | - | - | (8,396) | (8,396) | - | (8,396) |
| Change in translation adjustments Re-evaluation of net liability |
- | - | - | - | 45,197 | 45,197 | 1,489 | 46,686 |
| (asset) in respect of defined benefit plans |
- | - | - | 4,546 | 4,546 | - | 4,546 | |
| Actuarial gains and losses | (1,904) | - | (1,904) | 7 | (1,896) | |||
| Deferred tax on actuarial gains and losses |
- | - | - | 429 | - | 429 | (2) | 427 |
| Total other comprehensive income |
- | - | - | 3,071 | 69,792 | 72,863 | 1,035 | 73,899 |
| Comprehensive income | - | - | - | 186,997 | 69,792 | 256,789 | 4,237 | 261,026 |
| Position at December 31, 2021 |
11,109 | 508,259 | (643) | 930,146 | (115,406) | 1,333,466 | 8,963 | 1,342,429 |
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
| Equity | ||||||||
|---|---|---|---|---|---|---|---|---|
| In thousands of euros | Share capital |
Share paid in capital |
Own shares |
Other reserves |
Translation adjustments |
Attributable to the owners of the parent |
Non controlling interests |
Total |
| Position at January 1, 2022 |
11,109 | 508,259 | (643) | 930,147 | (115,406) | 1,333,466 | 8,963 | 1,342,429 |
| Change in share capital | (46) | - - |
- | - (46) |
- | (46) | ||
| Dividends paid | - | - - |
(51,066) | - (51,066) |
(1,409) | (52,475) | ||
| Effects of acquisitions and commitments to buy out non-controlling interests |
- | - - |
(7,488) | - (7,488) |
6,585 | (903) | ||
| Delivery of treasury shares under the bonus share plan |
- (12,631) |
33,977 | - | - 21,347 |
- | 21,347 | ||
| Other movements on own shares |
- | - (33,882) |
(17,677) | - (51,559) |
- | (51,559) | ||
| Share-based payments taken directly to equity |
- | - - |
13,116 | - 13,116 |
- | 13,116 | ||
| Other movements | - | - - |
(1,169) | - (1,169) |
(99) | (1,268) | ||
| Transactions with the shareholders |
(46) | (12,631) | 95 | (64,283) | - (76,865) |
5,077 | (71,788) | |
| Net profit | - | - - |
215,160 | - 215,160 |
5,421 | 220,581 | ||
| Other comprehensive income Net investment in a foreign |
- | - - |
- | - - |
- | - | ||
| operation and related hedges |
- | - - |
- (12,223) |
(12,223) | (997) | (13,221) | ||
| Deferred tax on net investment in a foreign operation |
- | - - |
- 2,774 |
2,774 | - | 2,774 | ||
| Change in translation adjustments Share of other |
- | - - |
- 17,464 |
17,464 | 344 | 17,808 | ||
| comprehensive income of associates and joint ventures accounted for using the equity method |
- | - - |
(735) | (735) | (735) | |||
| Actuarial gains and losses | - | - - |
2,907 | - 2,907 |
2,907 | |||
| Deferred tax on actuarial gains and losses |
- | - - |
(826) | - (826) |
- | (826) | ||
| Total other | - | - - |
1,346 | 8,015 | 9,360 | (654) | 8,707 | |
| comprehensive income | ||||||||
| Comprehensive income | - | - - |
216,506 | 8,015 | 224,520 | 4,767 | 229,287 | |
| Position at December 31, 2022 |
11,063 | 495,628 | (548) 1,082,370 | (107,392) | 1,481,121 | 18,808 | 1,499,929 |
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy
Group Chief Financial Officer
Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
[email protected] + 33 1 41 98 92 43 14 [email protected]
Ipsos is one of the largest market research and polling companies globally, operating in 90 markets and employing over 20,000 people.
Our passionately curious research professionals, analysts and scientists have built unique multispecialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. Our 75 business solutions are based on primary data from our surveys, social media monitoring, and qualitative or observational techniques.
"Game Changers" – our tagline – summarizes our ambition to help our 5,000 clients navigate with confidence our rapidly changing world.
Founded in France in 1975, Ipsos has been listed on the Euronext Paris since July 1 , 1999. The company is part of the SBF 120 and Mid-60 indices and is eligible for the Deferred Settlement Service (SRD). ISIN code FR0000073298, Reuters ISOS.PA, Bloomberg IPS:FP www.ipsos.com www.ipsos.com
35 rue du Val de Marne 75 628 Paris, Cedex 13 France Tel. + 33 1 41 98 90 00
Contacts: Dan Lévy Group Chief Financial Officer Antoine Lagoutte Deputy CFO
François Malin Head of Investor Relations
[email protected] +33 1 41 98 91 43
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