Ipsos (IPSOF) Q1 2026 Earnings Call

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WEBVTT 00:00:01.280 -- 00:00:05.086 Hello, good afternoon, or good morning. Thanks for joining. 00:00:05.086 -- 00:00:10.295 Welcome to our first quarter results announcement session for 2026 00:00:10.295 -- 00:00:15.504 at Ipsos. I'm Jean-Laurent Poitou, the CEO of Ipsos, and I'm here 00:00:15.504 -- 00:00:19.550 with Olivier Champollier, our Chief Financial Officer. 00:00:19.550 -- 00:00:26.069 What I'm going to be covering today are our results for the first quarter of 2026, 00:00:26.069 -- 00:00:30.255 An update on our strategy execution. Horizons is the name. 00:00:30.255 -- 00:00:34.802 You heard about it if you attended our January Capital Markets Day, and we talked about 00:00:34.802 -- 00:00:38.047 it a bit as we announced our full year results of 2025. 00:00:38.047 -- 00:00:42.574 I'll provide an update of where we are on the execution path. 00:00:42.574 -- 00:00:48.023 And then we will take a look at how we are considering the rest of 2026 with 00:00:48.023 -- 00:00:53.407 an outlook. But let me start with our first quarter 2026 results. 00:00:53.407 -- 00:00:57.672 and our revenue, which stands at 555 00:00:57.672 -- 00:01:02.719 million. If we compare this with the same number a year ago, it's 2.4% 00:01:02.719 -- 00:01:08.186 less, which in fact, if we didn't have a significant 5.4% 00:01:08.186 -- 00:01:10.186 negative 00:01:10.929 -- 00:01:15.455 currency impact, would be a total growth of 3%. 00:01:15.455 -- 00:01:20.098 That total growth is broken down into 4.3% 00:01:20.141 -- 00:01:25.597 of impact of the acquisitions we made, particularly the BVA 00:01:25.597 -- 00:01:27.019 family, 00:01:27.019 -- 00:01:33.188 minus the negative impact of having this pose of our 00:01:33.188 -- 00:01:36.092 Russian business or 80% of it as it happens. 00:01:36.0...