Update on $IPS (+1,65 %) — H1 2026 results
Following up on my Ipsos position — half-year numbers out
Q2 revenue: €615.2m, +4.9% (organic +3.0%) — rebound after Q1's -1.4%
H1 revenue: €1,170.1m, +1.3% (organic +0.8%, back to positive)
H1 net profit: €40.9m
Order book: organic +1.6% (end Q2) vs +1.0% (end Q1) — supports H2
Drivers: Public Affairs, Consumer Goods, China; pharma + UK improving
EMEA (largest region): +5.6% H1
Guidance: FY organic ~2%, margin in line with 2025 — maintained
Strategy: Horizons plan (AI + "Speed" fast-turnaround)
Take: not a blockbuster, but solid sequential improvement — Q2 organic +3%, order book building, guidance intact.
Low double-digit P/E + ~5% yield. Comfortable holding.
Anyone else digging through European mid-cap earnings this season? I mean outside Germany?