Capgemini reported revenues of €11.11 billion for the first half of 2025, reflecting a slight year-on-year growth of 0.2 percent at constant currency and a 0.3 percent decline on a reported basis.
Capgemini has generated revenue of €3,122 million (up 1.6 percent) in North America, €1,484 million (up 6 percent) in the UK & Ireland, €2,134 million (down 5 percent) in France, €3,399 million (down 2.3 percent) in Rest of Europe, and €968 million (up 8.7 percent) in APAC & LATAM during the first-half of the year.
Quarterly growth turned slightly positive in Q2 2025 at 0.7 percent, after several quarters of contraction. Regionally, Asia Pacific and Latin America led with 8.7 percent growth, followed by the UK & Ireland at 6 percent and North America at 1.6 percent. France and Rest of Europe posted declines of 5 percent and 2.3 percent, respectively.
Sector-wise, growth was strongest in Telco, Media & Technology (+4.7 percent) and Financial Services (+3.8 percent), while Manufacturing declined by 5 percent.
By business line, Applications & Technology grew 2.6 percent, Strategy & Transformation rose 1.3 percent, and Operations & Engineering declined 1.5 percent.
Despite flat revenue, operating margin held steady at 12.4 percent. However, net profit dropped 13 percent to €724 million, while organic free cash flow fell significantly to €60 million from €163 million a year earlier.
Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said: “The Group’s performance continued to improve in Q2. Momentum was positive in North America, the UK and APAC & LatAm and stable in Continental Europe, including France. Our bookings were solid, with a strong book-to-bill ratio of 1.08, and the operating margin was stable at 12.4 percent.”
Employees
Capgemini reported a total headcount of 349,400 as of June 2025, marking a 4 percent increase year-on-year with a net addition of 13,900 employees, primarily in offshore locations. Attrition rates remained stable, with a slight increase in Strategy & Transformation and Applications & Technology business lines. Utilization rates were steady across units, and offshore leverage stayed high at 69 percent. The company continues to manage its talent base to support evolving client demand in digital, cloud, and AI-driven transformation projects.
AI
Capgemini is intensifying its AI-focused strategy, with generative AI and agentic AI contributing to over 7 percent of client bookings in Q2 2025. Central to this approach is the Resonance AI framework, designed to support organizations through full-scale AI transformation — from strategic planning to deployment. Its AI-first portfolio, RAISE, offers enterprise-ready solutions including pre-built AI agents and agentic systems aimed at optimizing business operations, IT, and customer engagement.
In the first half of 2025, client demand for digital transformation remained strong, particularly in cloud, data and AI, and intelligent operations. Bookings reflected this momentum, with a healthy book-to-bill ratio of 1.08.
Capgemini saw increased investment from sectors such as aerospace, utilities, banking, healthcare, telecom, and the public sector. Clients adopted AI-powered solutions for use cases including intelligent network services, supply chain management, sustainability tracking, regulatory compliance, and omnichannel customer experience. These trends underscore Capgemini’s growing role as a strategic partner in delivering scalable, AI-led digital modernization across industries.
Rajani Baburajan
