Ipsos SA

OTC:IPSOF

Return to growth: Ipsos said Q2 revenue was EUR 615 million, with organic growth back to 3% after a weaker start to the year, and management said all regions were positive in Q2.

Full-year outlook: Management expects stronger H2 than H1 and now sees full-year organic growth above 2%, while operating margin should be similar to 2025.

AI push: The Horizons strategy is increasingly centered on AI, with new products and services such as Product Studio, digital services, and AI-enabled moderation and analysis tools being rolled out globally.

Order book: The order book was up 1.2% at end-June, and management said that supports around 75% of annual revenue and points to better H2 revenue execution.

Cash and capital returns: Free cash flow rose to EUR 44.4 million, net debt fell to EUR 225 million, and the company reiterated a EUR 100 million share buyback plan for FY '26 plus a EUR 2 per share dividend.