IPSOS_HIGHLIGHTS_2017

HIGHLIGHTS

2017

IT’S TIME FOR SECURITY

IT’S TIME FOR SIMPLICITY

IT’S TIME FOR SPEED

IT’S TIME FOR SUBSTANCE

Interview with Didier Truchot

2 4 5 6 8 9

Key figures and dates

The core business of Ipsos

Ipsos, a world leader

The five values uniting employees A reinforced CSR commitment

Ipsos’ assets

10 11 12 14 16 17 18 19 20 21 22 24 25

Thought Leadership

The success of the New Way programme

The Total Understanding project

Client programmes to create the future together

Ipsos Connect Ipsos Marketing

Ipsos Loyalty

Ipsos Public Affairs

Ipsos Interactive Services / Ipsos Operations Main consolidated financial statement information

Governance and shareholding structure

Contacts

CONTENTS

Founded in 1975, Ipsos is the 3 rd largest company in the world in market and public opinion research. Ipsos produces and analyses information about society, markets, people, brands and ideas in order to offer its clients the tools to act and to evaluate.

The Ipsos group is global, specialised and independent.

€1,780.5 MILLION IN REVENUE IN 2017

16,660 EMPLOYEES

89 COUNTRIES

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Ipsos - Highlights 2017

Ipsos Chairman & Chief Executive Officer Interview with Didier Truchot

The New Way can therefore be described as a great success. Ipsos has succeeded in demonstrating its ability to adapt quickly to market transformations and maintain its leadership.

The New Way can therefore be described as a great success. Ipsos has succeeded in demonstrating its ability to adapt quickly to market transformations and maintain its leadership. The 4S’s, Security, Simplicity, Speed and Substance, have inspired our renewed offer. Clearly, they adequately addressed our clients’ new needs and we believe they remain more relevant than ever today.

What is your vision of the market? Our market is growing and transforming at the same time. The sources of information are multiplying and technology gives access to new types of data. Generally speaking, our clients face an explosion in the amount of information available, for instance data from web and social media listening with its continuous flow of text, images and videos.

The New Way has been a resounding success. Can you tell us about it?

The aim of the New Way was to make Ipsos the preferred partner for the transformation of its clients by updating the market approach, mainly with the creation of 17 New Services which have been the main driver of Ipsos’ organic growth between 2015 and 2017.

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Ipsos - Highlights 2017

The Total Understanding project is a project for growth. Our new Service Lines should enable us to further accelerate our organic growth.

As a result, our clients have a growing need to understand the people behind the data in order to act appropriately. That’s why I remain optimistic about our business.

What are your assets in this market?

Ipsos has a three-fold approach based on “Science, Technology and Know-how”, with its Teams at the centre. Science teaches us more about individuals. Technology enables us to deliver results to our clients in a faster and more efficient way. And our know-how is based on 42 years of existence, a presence in 89 countries with over 200 offices, our operational capabilities, our databases and the expertise of our 16,700 employees. Naturally Ipsos’ teams are at the core of its assets because they are highly professional, multicultural, multi-specialist, united and committed to the values of the New Way. Why did you decide to embark on the Total Understanding project? The Total Understanding project is designed to clarify and simplify our offer, to make it more readable for our clients and to make Ipsos competitive in all its market segments.

What is concretely the Total Understanding project? It is for us to show more clearly the added value of our offer. To this end, we are reorganising our offer into Service Lines, which are logical groups of services, making Ipsos’ positioning easy to read on each market segment. The Total Understanding project is a project for growth. Our new Service Lines should enable us to further accelerate our organic growth. Each Service Line benefits from its own development plan specifying the necessary resources in terms of Science, Technology, Know-how and talents. We will seek to strengthen each of these elements, while undertaking where necessary, a policy of targeted acquisitions. What is your ambition with this project?

It aims to extend the strategic reach of the responses we provide our clients with. In this sense, we want to strengthen our role as a partner in their transformation.

Why the name “Total Understanding”?

“Total Understanding” is the ability to understand Society, Markets and People. Ipsos has the expertise to speak about Society based on a social research practice that covers more and more countries, the tools that provide a deep understanding and a deep knowledge through the collection and analysis of large volume of structured and non-structured data. In addition, because of its global footprint and its large client base, Ipsos is one of the few companies to have such a broad knowledge of the issues that clients face.

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Ipsos - Highlights 2017

Focus on a growth strategy Key figures and dates

Geographical expansion

Revenue

In million of euros

80 targeted acquisitions since 1991

1,780.5

1,362.9

22 6 6

15

15

480.2

16

199

18

1.8

1982 1990 1998 2001 2011 2017

1975-2017: a global network and unique expertise

A new vision of research: Didier Truchot founded Ipsos. He was joined by Jean-Marc Lech in 1982

Acceleration of Ipsos’ international ambition: acquisition of ASI, the USA’s leading advertising research company

1975

1998

1999

1990

Expansion in Europe through acquisitions 1994: Ipsos was the leading research company in Europe

Listing on the Paris Stock Exchange

Acquisition of Synovate: consolidating Ipsos’ leading position

Development of the Ipsos shareholding structure:

DT & Partners became the new principal reference shareholder

2017

2016

2011

2014

Launch of the New Way programme

Announcement of the Total Understanding project

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Ipsos - Highlights 2017

The core business of Ipsos

A unique positioning on «understanding»

To deal with its clients’ issues and offer them innovative solutions, Ipsos has built an offer to help themunderstand Society, Markets and People.

22% of revenue

53% of revenue

Ipsos Connect Media and advertising research • Measuring media audiences • Testing communication campaigns and their content • Measuring the performance and effectiveness of brand communications

Ipsos Marketing Marketing research

• Segmenting markets • Supporting brands in developing innovation • Optimising brand strategies and positioning • Understanding purchasing behaviour and the consumer

Each individual is in turn a Consumer, Customer, Citizen or Employee

15% of revenue

11% of revenue

Ipsos Loyalty Client and employee relationship management • Designing, measuring and delivering value from Customer Experience programmes • Enabling companies to have meaningful dialogue with their employees

Ipsos Public Affairs Opinion & social research • Identifying the behaviour of individuals as citizens • Understanding and identifying shifts in attitudes and opinions • Evaluating companies’ reputation • Conducting political polling

Ipsos Interactive Services/ Ipsos Operations • Providing Ipsos researchers and clients access to respondents everywhere they need • Running surveys using the fullest range of techniques possible, whatever the data collection mode at the highest levels of quality, security, speed and cost efficiency

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Ipsos - Highlights 2017

Ipsos, a world leader

Ranking of market research companies

Company Nielsen

Rank

2017 Revenue (billion of US dollars)

1 2 3 4

6,57 3,47 2,01 1,68

39 % of revenue

Kantar Ipsos

GfK

Americas

Source: Companies’ annual reports, GfK: 2016 revenue.

Ranking among the top 4 in the 10 main countries representing 86% of the market research sector.

Developed countries

Strong positions in mature markets.

No. 1

No. 2

No.3

No. 4

Canada

Switzerland The Netherlands United Kingdom

France

Germany South Korea United States Italy

Emerging countries

33% of total revenue

No. 1

Mexico Nigeria No. 2

No.3

No. 4

with leading positions in key markets.

Turkey

Russia Singapore

Australia Brazil China India South Africa

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Ipsos - Highlights 2017

43 % of revenue Europe, Middle East & Africa

18 % of revenue

Asia-Pacific

Clients

Interviews

More than 5,000 clients 50% of global clients and 50% of local clients , in areas including consumer goods, financial services, healthcare, media, tech- nology, automotive, tourism, leisure, the public sector, institutions and NGOs.

140 countries

Access to more than

53 with Ipsos proprietary

including

online-mobile panels

23 million d’interviews online 20 million d’interviews offline

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Ipsos - Highlights 2017

The five values uniting employees

Integrity

We demonstrate the highest ethical standards and principles. We are independent, objective experts delivering reliable information to our clients. (...)

Entrepreneurial

spirit

We are different. Our culture encourages individuals to try different, innovative ideas. We are motivated. We work hard and smart, and we are able to act quickly and decisively when required. (...)

Proud Ipsos to be Our values and our mission

Curiosity We are curious about the world around us. We ask the right questions, we seek the new and unexpected. (...)

Collaboration All of us are smarter than any of us. We work in diverse teams comprising clients and colleagues. Together we navigate the world towards common goals and with open minds. (...)

Client first

We put clients first. Always. We focus on long-term partnerships and we understand our clients’ businesses as if they were our own. We are responsible and accountable for providing our clients with the best solutions across our specialisations. (...)

Proud

Ipsos to be

The “Proud to be Ipsos” booklet which is given to every new employee

Our values and our mission

sets out the five values.

Information about all of Ipsos’ values can be found at www.ipsos.com/en/values

GAME CHANGERS

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Ipsos - Highlights 2017

A reinforced CSR commitment

2008

2013

Ipsos was the first market research company to subscribe to the UN Global Compact. Ipsos launched the internal survey “Taking Responsibility” tomeasure itsworldwideCSRactivities. Ipsos launched its first report on Greenhouse Gas Emissions.

Ipsos introduced its own Whistle-blowing System to guarantee compliance with the rules set out in the Green Book, the Ipsos Professional Code of Conduct, and also in the Book of Policies and Procedures. Ipsos formed its CSR Committee including two independent members of the Board of Directors.

2012

2014

The teams business travels is the main impact of the Group on climate change. In 2017, Ipsos has exceeded its target of reducing greenhouse gas emissions over the period 2014-2017. Target: -10%* Result: -14.1%* Reducing the Group’s carbon footprint, a goal largely achieved in 2017

*On a like-for-like basis in 22 countries

Measuring the societal impact of Ipsos

With an objective in 2020, Ipsos will publish the results of its initiatives through 11 key performance indicators around three key topics: X protecting the planet (reducing greenhouse gas emissions and paper consumption) X sustainable development (in countries and with suppliers) X teams (engagement and gender equality)

Supporting the Ipsos Foundation to help future generations through education

Date founded: 2015 Its ambition: a long-term commitment to local non-profit organisations. Its objective: to contribute to the education of underprivileged children and youth around the world. Since 2015:

+€900,000 committed 40 projects supported

Providing food security for schoolchildren in Sudan The Ipsos Foundation believes that to properly train children, they must also offer an environment conducive to work, including access to proper nutrition, because no child can learn when he is hungry. The Ipsos Foundation has therefore joined forces with the non-profit organisation Mary’s Meals in Sudan to provide 497 schoolchildren with daily meals for a year.

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Ipsos - Highlights 2017

Ipsos’ assets The tryptic « Sciences, Know-how and Technology » with its teams at the core

Sciences Ipsos maintains and develops a strong expertise in the scientific fields applied to market research to always better understand individuals whether they are consumers, clients, citizens or employees. As an example, we master and apply behavioural sciences and neurosciences to reinforce our understanding of the non-conscious and non-verbal and enhance the accuracy of our analysis. Technology Ipsos masters all the technologies applicable to market research including those allowing the use of new types of data such as web and social media data (text, images and videos automated analytics…), behavioural data or complex data visualization techniques.

Know-how Ipsos has a unique know-how thanks to its experience of more than 42 years. Its international dimension with a strong local presence in 89 countries and 200 cities ensures a better understanding of Society, Markets and People regardless of the country – developed or emerging –. Teams With nearly 16,700 employees, Ipsos’ teams are multicultural and trained to the latest techniques. They are the foundation of Ipsos’ reputation for excellence with over 5,000 clients in all sectors and through more than 60,000 research projects run every year. All Ipsos’ employees adhere to our 5 core values: Integrity, Curiosity, Collaboration, Client First, Entrepreneurial Spirit. Our assets, innovation and the relevance of our positioning allow us to attract the new talents of tomorrow.

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Ipsos - Highlights 2017

Thought Leadership

Find out all the papers and articles published by Ipsos on www.ipsos.com .

White Papers

Throughout the year, Ipsos’ experts share their point of view and know-how.

Ipsos Encyclopedia It gathers more than 1,050 market research definitions written by Ipsos’ experts and available on the website.

The Economic Pulse of the World A monthly study measuring the opinion of citizens in 28 countries on the global and local economic situation.

www.ipsos.com/en/ ipsos-encyclopedia

Flair series Each year, Ipsos analyses Society, consumers, citizens, brands and politics in several countries through its collection, Flair, produced by local experts.

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Ipsos - Highlights 2017

The success of the New Way

A three-year programme: From 2015 to 2017

Its ambition: To make Ipsos the preferred partner of its clients’ transformation. Its objective: To rethink Ipsos’ market approach, organisation, tools and client solutions with New Services that support the 4S’s (Security, Simplicity, Speed and Substance). Its tagline: Game Changers

The results of the New Way

The New Way has been a resounding success, allowing Ipsos to adapt its organisation and services to meet shifting market demand.

Organic growth 2015-2017 CAGR*: 1.5 % Return to organic growth

+3.0%

+2.4%

-1%

2015

2016

2017

Client satisfaction Offer meeting market expectations 87% ** 79% **

Digital progression in data collection

Online/mobile surveys as a share of revenue

52%

47%

2014

2017

2014

2017

(Sources: Ipsos, *Compound Annual Growth Rate (CAGR) over 2015-2016-2017, **GCS surveys 2014 and 2017)

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Ipsos - Highlights 2017

programme

New Services, a growth driver Ipsos has developed 17 NewServices tomeet its clients’ needs and to give themaccess to the latest innovations. These New Services are grouped into four categories representing the great challenges of the research industry:

Measure differently • Web listening • Communities • Behavioural economics • Ethnography • Neurosciences • Consumer and Retail Audit • Mediacell Have the data in real time • Mobile • Overnight Services • Enterprise Feedback Management (EFM) Integrate big data • Data analytics/Data Science • Ipsos Science Centre • Path to Purchase Offer expert advisory services • Market Entry Research • Workshops • Advisory Services • Insight Cloud

Near-doubling of the contribution of New Services

New Services as a share of revenue

13%

11%

9%

7%

2014

2015

2016

2017

Revenue of New Services in millions of euros Organic growth Increasing penetration of New Services

225

21.3% (CAGR)*

123

2014

2017

Relevance of the 4S’s The 4S’s encapsulate Ipsos’ commitment in four keywords: “Security” : data security is a major challenge today. With this commitment, Ipsos uses its expertise not only to protect data but also ensure the quality and the reliability of that data. “Simplicity” : in the face of accelerating global trends, our clients need simple and accessible information. With this commitment, Ipsos encourages its clients to use this information to take action.

“Speed” : our clients need information quickly so that they can keep pace with constantly changing markets. Ipsos leverages its global network and technology for faster execution. “Substance” : Ipsos uses all of its resources to deliver accurate, detailed and relevant information that empowers its clients to act.

These four fundamental principles guide our actions and were key to the success of the New Way programme. They are now more relevant than ever, at a time when Ipsos is transitioning into the next step, the Total Understanding project.

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Ipsos - Highlights 2017

The Total Understanding project

Its ambition: To make Ipsos its clients preferred partner for understanding Society, Markets and People. Its content: To streamline and restructure the Ipsos offering around Service Lines, of which it will offer a large number. Operational launch: 1 July 2018 A project for 2018-2020 and beyond. Simplification of the offer and enhancement of competitiveness The aim of the Total Understanding project is to restructure the Ipsos offering to make it more comprehensible to clients and highlight its added value. Some 90 Services are grouped within Service Lines.

Each Service Line is a logical group of Services with its own development plan to ensure that it remains competitive within its market segment.

List of Service Lines • Audience Measurement • Brand Health Tracking • Car Clinics • Commercial Effectiveness • Communications Assessment

• Media Development • Market Strategy & Understanding • Mystery Shopping • Observer • Qualitative • Quality Management • Social Intelligence & Analytics

• Corporate Reputation • Customer Experience • Healthcare • IMM • Innovation

• Social & Opinion Research • Other Specialists Services

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Ipsos - Highlights 2017

4 key Service Lines: These key Service Lines are firstly emblematic of our expertise in understanding Society, Markets and People. They are also some of the fastest growing market segments.

Society Social & Opinion Research

Markets Market Strategy & Understanding

People Social Intelligence & Analytics

Qualitative

Combination of Service Lines Each Service addresses specific research needs. The logical grouping of these Services within the Service Lines clearly positions Ipsos in the different market research segments. Return to a targeted acquisitions policy The Total Understanding project is also about pursuing a more active acquisition policy aimed at strengthening Prospects of the Total Understanding project The key aspects of the Total Understanding project are simplification, competitiveness of the offering, leadership in the most attractive segments, reaffirmation of the strategic nature

Lastly, the combination of Service Lines provides a meaningful and comprehensive response to broader strategic issues.

Ipsos’ competitive position in terms of scientific expertise, technological capabilities, know-how and talent.

of our analyses and targeted external growth. Together these will enable Ipsos to grow at a faster pace in the coming years.

The project is implemented internally by over 200 experts 11 cross-disciplinary workstreams have been set up to identify the fundamentals of the Total Understanding project and to prepare its operational launch on 1 July 2018. A. Business questions B. Technology, platforms and partnerships C. Performance D. Applying scientific knowledge E. Market segmentation F. Clients account segmentation G. People, teams and culture H. The Ipsos narrative I. Total Understanding in China J. Total access K. Innovation

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Ipsos - Highlights 2017

Client programmes to create the future together Ipsos works with more than 5,000 clients worldwide. Its clients are evolving in a complex and competitive environment in which speed of execution is a key feature. In addition to the challenge of growth, they must address the challenges of the digital economy and understand its impact on their business. They must reinvent their models, challenge themselves and become ever more agile. To provide the best support for its largest clients, Ipsos has introduced a specific organisational structure.

Helping and supporting clients in transforming through New Services Ipsos clients firstly want help with the processing of information, collected in an active or passive way, and in making it useful so that it can be used immediately for decisions and concrete actions. Moreover, they need to understand new consumer habits and their way of interacting with brands in a fragmented media environment. Lastly, they want to be closely supported at increasingly early phases in their innovation processes. More in-depth testing combining multiple data sources and receiving early support: these are clients’ expectations. As a result, they need partners like Ipsos who are capable of providing high quality solutions that can be applied throughout the world. Ipsos knows how to offer standardised solutions and to guarantee uniform quality in carrying out its research, whatever the country and the solution in question.

Ipsos and its global clients, Ipsos Global PartneRing and Partnering Relationships Programme In order to strengthen its relationship with its major clients, Ipsos introduced the Ipsos Global PartneRing programme more than 15 years ago with 18 of its largest clients and the Partnering Relationships programme bringing together 20 of its high potential clients. As part of these close partnerships, each client is able to rely on the Group’s excellent local resources and the support of a Chief Client Director at a global level. These dedicated contact points are centrally involved in their clients’ major strategic policies and technical issues. They hold brainstorming sessions with them on new methods, work to improve Ipsos’ services and provide innovative solutions to specific issues in order to address their current challenges. Thanks to these collaborative programmes, Ipsos not only offers its clients the opportunity to benefit from made-to-measure services but also to jointly create tomorrow’s innovations as part of an iterative process.

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Ipsos - Highlights 2017

Ipsos Connect

Ipsos Connect specializes in addressing audience measurement issues and helping brands communicate effectively. Ipsos Connect has 4 main areas of expertise: audience measurement and understanding, communications testing, digital format testing, brand and communications performance and effectiveness.

Assessing several creative routes for a new advertising campaign in 24 hours An international brand of ice cream urgently needs to validate the potential of two creative routes and identify the most promising one. The solution proposed by Ipsos measures the key indicators of advertising effectiveness in a quantitative sample in 24H. Ipsos identifies the most promising route and provides recommendations to boost the potential of the advertising to generate attention and brand desire. Ipsos then assesses the positive impact on the brand thanks to its in- market tracking solution. Deciphering the emotions spontaneously expressed on the face of consumers to improve advertising effectiveness An international restaurant chain wants to enhance the effectiveness of its communications and in particular improve the emotional impact of TV commercials. Thanks to the Facial Coding technology, Ipsos measures the emotions felt by consumers when they are exposed to an advertisement. It has the advantage of measuring, second by second, six spontaneous emotional reactions expressed unconsciously. It decodes positive emotions like joy, surprise and negative emotions like disgust, confusion, without rationalization on the part of consumers. Equipped with this understanding of emotions and with advertising effectiveness key indicators, Ipsos teams accurately identify the scenes, dialogues, visual effects and audio to be activated at key moments in the TV commercial.

Identifying the most efficient digital format An American snacks brand has developed a video and wishes to identify the best format of diffusion in a realistic digital environment. Ipsos’ solution tests the ad in 3 different options, namely a video that cannot be ignored, a video that cannot be ignored, or a video that appears in the consumer’s navigation page. Ipsos identifies the option “a video that can be ignored” as the one allowing the best visibility and delivering a meaningful brand impact and desire. Combining brand tracking, free expression of the consumer and social media conversations, through data science An international player in the spirits sector wants to assess the perception of its brands by consumers in all its markets. Ipsos implements a device agnostic brand tracking (available on smartphone, tablet or computer) based on the collection of verbatims and photos expressing associations of consumers to brands. In parallel, Ipsos also monitors conversations on social media to provide a holistic diagnosis of categories, moments of consumption, trends and brand image. The use of algorithms based on the latest advances in artificial intelligence allows to reveal the meaning of all the collected verbatim and propose concrete actions to strengthen the brands and feed their communication.

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Ipsos - Highlights 2017

Ipsos Marketing

Ipsos Marketing specialises in addressing issues related to innovation, understanding markets, brands and purchasing processes. Ipsos Marketing is active in several areas: market analysis, innovation and forecasting, product and pack testing and shopper research. Ipsos Marketing also offers targeted expertise: qualitative research, analytics, health and pharmaceutical, retail and lastly advisory services.

Screening pack designs faster using mobile A major soft drinks manufacturer needs to test many pack designs and select the best option in a short timeframe. Inspired by apps like Tinder, Ipsos’ solution uses the principles of behavioural sciences in a survey conducted on mobile to better take into account consumer purchasing decisions. A shelf space test is then performed, after which the client launches the new packaging on the market. Using Ethnography to explore consumer behaviours A leading petcare manufacturer wants to understand how consumers purchase processed petfood. Ipsos leverages its Ethnography Centre of Excellence to conduct a study in several emerging markets which includes interviews and films with families living in each market (Brazil, Mexico, Argentina, Russia, China and Indonesia) as well as web listening and interviewee kept consumption diaries on mobile.

Recording a video of consumers’ reactions during product testing

A beverage manufacturer wants to evaluate new product formulas in the South African market and find the best alternative out of three prototypes. Ipsos conducts a blind taste test with video recordings of the consumers’ reactions and spontaneous comments. Those videos are then analyzed in partnership with Big Sofa (Ipsos owns 20% of Big Sofa since March 2018) and showcased during the presentation of results. The study identifies a winning prototype to replace the current formula but also to better connect with its consumers. Our client, a key player in the beauty care market, decides to change the packs of one of their main range of products, using a disruptive design. As only a few mock-ups are available, and not for all new designs, Ipsos proposes to use virtual reality to create an immersive shopper experience. A shelf scenario in store is recreated with both real and digital models. In addition, Ipsos includes Eye Tracking to analyse the visual attention of shoppers. Using virtual reality glasses is key to the success of this study; it allowss both accurate data and clear shopper insights to the client to guide its pack strategy. Getting closer to the shopper experience with Virtual Reality

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Ipsos - Highlights 2017

Ipsos Loyalty

Ipsos Loyalty specialises in designing, measuring and delivering value from customer experience and employee engagement programmes. Ipsos Loyalty offers a range of approaches, including customer journey mapping, customer relationship programmes, real-time customer feedback, mystery shopping, quality management, employee feedback programmes and advisory services.

Measuring customer satisfaction with a comprehensive global solution An international hotel chain needs to create and maintain a consistent customer experience across its entire portfolio. Ipsos captures and analyses real-time structured and unstructured data from 15,000,000 interviews across 5,000+ hotels, 100 countries and 30 languages during 10 months. The comprehensive, integrated platform provides role-based insights and action workflow support at the property level and feeds meaningful information up the chain of command, helping the client hit its satisfaction targets. Aligning new corporate strategy and operational structure thanks to customer experience management programme One of the world’s largest manufacturing companies needs a customer experience platform to assist in the implementation of the growth and transformation plan of its offer. To manage its network composed of over 2,000 shops, Ipsos proposes

to use a unique point of contact to receive all feedbacks from customers and a global alert system. The ability to react instantly to customer issues ensures a higher customer satisfaction rate and increases the likelihood of repeat business. Ipsos’ solution provides a single and holistic understanding of the customer experience resulting in improved mystery shopping scores and a significant overall financial impact. Understanding the path to purchase of customers to better adapt the products and services A leading global bank wants to relaunch its services and build a best-in-class on-boarding experience. Ipsos helps establish the customer voice as a source of inspiration and guidance. Stakeholder workshops attended by every level of employee produces a set of guiding principles. Graphically designed journey map posters, a library of insight films and a comprehensive set of reports allow a very clear picture of the customer journey with major financial benefit for the bank.

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Ipsos - Highlights 2017

Ipsos Public Affairs

Ipsos Public Affairs specialises in helping companies and institutions understand and identify changes in attitudes and opinion and to improve their communication, programmes and reputation. Ipsos Public Affairs also conducts public opinion research, political polling and social research.

Measuring liveability standards globally and across various data sources For the launching of a government’s first national Liveability Assessment of 100+ cities, Ipsos connects 79 indicators with existing major government institutional, social, economic and physical initiatives andSDG’s. Thiswork brings togethermultiple modes of data to form a Liveability Index generating learnings for multiple levels of government and other stakeholders, and ultimately making cities more liveable. Understanding perceptions of global citizens Ipsos accompanies an international organisation in the identification of citizens’ concerns across 24 countries. Ipsos asks them about their values, the international influencers they follow and their commitment to world Business. The data is then used to strengthen understanding of citizens’ opinion on a variety of sensitive topics.

Simplifying and securing patient experience

The efficiency of a health system is measured in particular by the quality of patient experience. In this context, Ipsos sets up a program to study the patient experience for health authorities in order to identify areas for improvement. Ipsos implements a patient experience research programme which combines three existing research programmes into one platform. The analysis of over 500,000 verbatims, for positive or negative sentiment and 90+ specific categories is a key asset in this project. Real time access to the data is provided thanks to a personalised and secure portal.

Strengthening brands by analysing companies’ corporate reputation

Ipsos leads a 15-country corporate reputation project for a major payment provider in order to understand the perception of the company across a variety of public and private sector stakeholders and upscale clientele. The results are used by the client to strengthen its brand and reinforce its position in a changing marketplace.

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Ipsos - Highlights 2017

Ipsos Interactive Services / Ipsos Operations Ipsos Interactive Services/Ipsos Operations is the entity responsible for Ipsos’ core business. It covers all of Ipsos’ areas of specialisation. Its role is to provide access to respondents using rapid and innovative techniques and solutions, regardless of the collection method (online, mobile and offline). It is in charge of research management, including the choice of collection method, scheduling the questionnaires, sampling, fieldwork coordination and processing and formatting of data.

Operations ensure respondents and clients with superior quality and safety levels across more than 140 countries. Ipsos

teams have the scope and experience to conduct surveys in the Americas, Europe, Asia-Pacific, Africa and the Middle East.

ONLINE-MOBILE – 100 COUNTRIES • Proprietary panels in 53 pays. 3.8 million panellists based on more than 200 variables, thereby allowing faster targeting. • Increased capacity with other sources such as real-time sampling.

semi-DIY solutions, automatic extractions of online samples, overnight approaches, live fieldwork tracking via online dashboard, automated reports and data visualisation… Observer, methodological and technical know-how Ipsos Observer is the entity who works with clients who want fieldwork for their study without analysis. Observer mainly offers syndicated approaches (Omnibus), fast research and proprietary panels. FACE-À-FACE – 110 COUNTRIES Network of 19,500 Face-to-Face pollsters to reach all targets, even the most difficult to reach (at home, at work, on public transport, in the street, or in shopping centres…). TELEPHONE – 85 COUNTRIES 4,200 interviewers (random sampling, interviews recording…). All the segments of the population are covered (consumers, employees, decision-makers…).

Online and mobile solutions bespoke In an ever-changing environment, operations constantly innovate to tailor collection methods to people’s lifestyles, reach all respondents no matter where they are and collect initial reactions (device agnostic, mobile app, interactive modules, geolocation, passive measure, ...). Speed of execution without compromise quality Each stage of Ipsos’ research is automated or follows strict procedures, from development to delivery of the results -

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Ipsos - Highlights 2017

Main consolidated financial statement information

Consolidated income statement

In thousand euros

31/12/2017 1,780,453 (623,787) 1,156,666 (747,500)

31/12/2016 1,782,691 (622,244) 1,160,446 (751,754)

Revenue

Direct costs Gross profit

Payroll - excluding share based payments Payroll costs - share-based payments

(10,094) (210,865) (5,931) 182,275 (4,668) (14,364)

(9,991)

General operating expenses

(220,646)

Other operating income and expense

2,026

Operating margin

180,080 (4,786)

Amortisation of intangible assets identified on acquisitions

Other non-current income and expense

143 (46)

Income from associates

217

Operating profit

163,460 (20,380)

175,391 (20,811)

Finance costs

Other financial income and expenses

633

(475)

Profit before tax

143,713 (39,118) 24,482 (14,636) 129,076 128,507

154,105 (37,765)

Income tax - excluding deferred tax on goodwill

Deferred tax on goodwill

(6,582)

Income tax Net profit

(44,347) 109,758 106,897

Attributable to the Group

Attributable to minority interests Earnings per share (in euros) - Basic Earnings per share (in euros) - Diluted

569 2.99 2.94

2,861

2.40 2.36

Statement of consolidated financial position

In thousand euros

31/12/2017

31/12/2016

ASSETS Goodwill

1,159,352

1,259,193

Other intangible assets

59,964 32,228

71,489 35,517

Property, plant and equipment

Investment in associates

916

207

Other non-current financial assets

21,425 21,252

22,547 18,184

Deferred tax assets Non-current assets Trade receivables

1,295,136

1,407,138

617,660 13,517 75,802

624,406 15,204 78,677

Current taxes

Other current assets

Derivatives financial assets Cash and cash equivalents

1,462

3,399

137,267 845,708

164,892 886,579

Current assets

TOTAL ASSETS

2,140,844

2,293,717

LIABILITIES AND EQUITY Share capital

11,109 516,130 (35,235) 569,717 (112,515) 949,208 17,290 966,498 577,432 26,918 66,450 18,183 697,948 259,432 25,527 14,658 8,964

11,109 516,489 (55,905) 492,737 (44,819) 919,612 19,805 939,417 626,152 28,029 100,432 21,159 785,002 262,865 86,662 11,104 9,230

Share premiums Treasury shares Other reserves

Currency translation differences

Shareholders’ equity - attributable to the Group

Minority interests

Shareholders’ equity

Borrowings and other long-term financial liabilities

Non-current provisions

Retirement benefit obligations

Deferred tax liabilities

Other non-current liabilities Non-current liabilities

Trade payables

Borrowings and other short-term financial liabilities

Current taxes

Current provisions

7,189

9,664

Other current liabilities

169,592 476,398

199,005 569,300

Current liabilities

TOTAL LIABILITIES AND EQUITY

2,140,844

2,293,717

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Ipsos - Highlights 2017

Consolidated cash flow statement

In thousand euros

31/12/2017

31/12/2016

OPERATING ACTIVITIES

NET PROFIT

129,076

109,758

ITEMS WITH NO IMPACT ON CASH FLOW Amortisation and depreciation of property, plant and equipment and intangible assets

24,910

25,970

Net profit of equity associated companies - net of dividends received

(217)

46

Losses/(Gains) on asset disposals

(43)

2,481

Net change in provisions

(511) 9,549 (778)

(12,702)

Share-based payment expense Other non-cash income/(expenses)

9,737

978

Acquisition costs of consolidated companies

178

1,325

Finance costs

20,380 14,636

20,811 44,347

Income tax expense

OPERATING CASH FLOW BEFORE FINANCIAL EXPENSES AND TAX PAID

197,182

202,752

Changes in working capital requirement

(37,771) (21,245) (38,975)

22,819 (20,351) (38,046)

Interest paid

Income tax paid

CASH FLOW FROM OPERATING ACTIVITIES

99,191

167,174

INVESTMENT ACTIVITIES Acquisitions of property, plant and equipment and intangible assets Proceeds from disposals of property, plant and equipment and intangible assets

(17,518)

(17,631)

285

133

(Increase)/Decrease of financial assets

(1,201) (2,212)

(1,070) 23,900

Acquisitions of companies and consolidated activities, net of acquired cash

CASH FLOW FROM INVESTMENT ACTIVITIES

(20,647)

5,332

FINANCING ACTIVITIES Increase/(Decrease) in capital

-

(225)

(Purchase)/Proceeds of treasury shares Increase/(Decrease) in long-term borrowings

6,399

(85,050) (1,688)

(53,315)

Increase/(Decrease) in bank overdrafts and short-term debt

86

491

Purchase of minority interests

(12,785) (36,414)

(33,312) (36,358)

Dividends paid to parent company shareholders

Dividends paid to minority shareholders of consolidated companies

-

(431)

CASH PROVIDED BY FINANCING ACTIVITIES

(96,030)

(156,575)

NET CHANGE IN CASH

(17,485) (10,140) 164,892 137,267

15,932 (2,615) 151,576 164,892

Impact of foreign exchange rate movements

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR

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Ipsos - Highlights 2017

Governance and shareholding structure

Board of Directors • Mr Didier Truchot, Ipsos Chairman & Chief Executive Officer • Mr Patrick Artus • Ms Mary Dupont-Madinier • Ms Florence von Erb • Ms Jennifer Hubber, Chief Client Officer Ipsos • Mr Neil Janin • Mr Henry Letulle • Ms Anne Marion-Bouchacourt • Ms Sylvie Mayou, Deputy CEO, Ipsos Marketing, France • Ms Laurence Stoclet, Ipsos Deputy Chief Executive Officer Executive Committee • Didier Truchot Ipsos Chairman & CEO • Gary Bennewies Chief Talent Officer • Darrell Bricker CEO Ipsos Public Affairs • Christophe Cambournac CEO Asia-Pacific • Lauren Demar Deputy CEO Ipsos Marketing • Shane Farrell CEO Europe, Middle East & Africa • Ralf Ganzenmueller CEO Ipsos Loyalty • Sheryl Goodman Group General Counsel • Brian Gosschalk Head of President’s Office • Alex Gronberger CEO Latin America • Jennifer Hubber Chief Client Officer Ipsos • Pierre Le Manh

Ipsos Deputy CEO, Chairman and CEO North America, CEO Ipsos Marketing

Chairman and CEO China

• Lifeng Liu • Dean Luker • Ben Page

Corporate Development Director

CEO UK & Ireland

CEO Ipsos Interactive Services / Ipsos Operations

• Judith Passingham • Neville Rademeyer • Laurence Stoclet

Global CIO

Ipsos Deputy CEO, Chief Financial Officer

CEO Western Continental Europe, Chief of Innovation and technology

• Carlo Stokx • Henri Wallard

Ipsos Deputy CEO, Chairman Ipsos Loyalty, Ipsos Public Affairs, Ipsos Science Centre, Ipsos Laboratories, Neurosciences and Ipsos Knowledge Centre Group Associate Director, Country Manager Ipsos in France & CEO « Ipsos Sciences Team»

• Helen Zeitoun

Development of the shareholding structure in 2016 Creation of Ipsos Partners

and to encourage the transfer of their shares among the members of Ipsos Partners SAS. The amounts invested by the managers at Ipsos Partners allowed them to subscribe to a capital increase for DT & Partners, Didier Truchot’s personal holding company. Following the capital increase, Ipsos Partners holds 19% of the share capital and voting rights of DT & Partners.

In late September 2016, 144 Ipsos mid-level and senior managers tookpart in thecreationof IpsosPartnersSAS. This creationmarks the culmination of a process initiated in early 2015 to continue the plan of the Group’s Co-Chairmen, Didier Truchot, the Group’s founder, and Jean-Marc Lech, his business partner who died suddenly in December 2014, to ensure the Group’s independence

Ipsos SA share capital and voting rights as at 31 December 2017

Number of shares 4,406,988 2,179,919 35,185,958 1,052,386 32,392 1,350,841 44,436,235 260,143

% of shares

Number of voting rights

% of voting rights

DT & Partners Didier Truchot

9.92% 0.59%

8,813,976

17.37% 1.01% 8.59% 69.68% 3.34% 0.13%

512,439

4.9%

4,359,838 35,350,208 1,695,806 64,179

Sofina (1)

Public

79.18% 2.37% 0.07% 3.04%

Employees Including FCPE and Group savings plan (2)

Treasury shares

-

-

TOTAL

100%

50,732,267

100%

(1) According to registered shares (2) Employee participation within the meaning of Article L. 225-102 of the French Commercial Code was 0.07% as at 31 December 2017.

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Ipsos - Highlights 2017

FOR MORE INFORMATION

All Ipsos group publications are available on its website, www.ipsos.com

Reference document To read or download the 2017 Reference document, please visit Investors section, Analysts & Shareholders News For the latest Group news, please go to Investors section, Press releases Investor relations contacts Laurence Stoclet: Ipsos Deputy CEO, Chief Financial Officer

Antoine Lagoutte: President, Corporate Finance Simon Derbanne: Investor Relation Manager

Follow the Ipsos group on Twitter and LinkedIn

Ipsos

@_Ipsos

Ipsos 35, rue du Val de Marne - 75013 Paris - France ipsoscommunications@ipsos.com

Prepared by: Ipsos Group Finance Department Editorial Director: Laurence Stoclet, Ipsos Deputy CEO, Chief Financial Officer Photo credits: Getty Images

25

Ipsos - Highlights 2017

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