Organic revenue was down in the first quarter of 2023 but Ipsos increased its revenue throughout the year. The company posted organic growth of 8.8% in the fourth quarter, meeting its overall guidance for the year.

However, revenue for the full year was €2,389.8m, down 0.6% year-on-year due to currency changes.

The company’s operating profit margin for 2023 remained the same as 2022, at 13.1%.

In terms of service lines, the consumer business – which includes brand tracking, marketing spend optimisation and market positioning, and qualitative – saw the highest organic revenue growth for the year at 7.1%.

Activity with doctors and patients grew by 3.6% over the year, while the clients and employees segment – which includes audience measurement, customer experience and mystery shopping – remained the same, with the segment “adversely affected” by drop in demand from major tech clients, according to the company.

In other results, revenue from Ipsos’ work with citizens – the public affairs and corporate reputations businesses – was down 5%, mostly due to Covid-19 contracts ending. Ipsos said the business relating specifically to the public sector, other than Covid-19 contracts, performed well.

Ben Page, chief executive of Ipsos (pictured), said: “We improved in 2023 despite economic headwinds, proving the resilience of Ipsos’ model. Thanks to our geographic spread, our multi-sectoral approach, client portfolio and new technology, we can feel confident as we step into 2024.

“Combined with the talent and commitment of our teams, these strengths are exactly what we need to keep responding to new client needs and seizing new growth opportunities.”