Capgemini revenues up 10.9% to €5.729 bn in Q1

Capgemini Group said its revenues increased 10.9 percent to €5,729 million in Q1 2023 despite there was a wide-spread cut in IT spending by enterprises.
Capgemini IT services for digital transformationCapgemini aims at revenue growth of 4–7 percent with operating margin of 13-13.2 percent in 2023.

“The trends observed in our markets are in line with the scenario anticipated for 2023. Our performance demonstrates the agility and resilience of our model, and the relevance of our strategy,” Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said in its earnings report.

Capgemini’s revenues in the United Kingdom and Ireland region, which accounts for 12 percent of Group revenues, increased +13.9 percent, driven by strong growth in the Manufacturing and Consumer Goods sectors and the solid performance of Financial Services and the Public Sector.

Capgemini’s revenues in the Rest of Europe, which accounts for 31 percent of revenues, rose 13.8 percent, driven by double-digit growth in the sectors of Manufacturing, the Public Sector and Financial Services – as well as TMT (Telecoms, Media and Technology) and Energy & Utilities.

Capgemini’s revenues in France, which accounts for 20 percent of group revenues, grew 12.4 percent, boosted by strong momentum in the Manufacturing, Financial Services, Consumer Goods and Public sectors.

Capgemini’s revenues from the North America region, which accounts for 29 percent of Group revenues, achieved growth of 6.1 percent. While the Manufacturing and Services sectors were particularly dynamic, the Financial Services and Consumer Goods sectors trailed, with growth rates lagging behind other regions. The TMT sector experienced a slight contraction.

Capgemini’s revenues in the Asia-Pacific and Latin America region, which brings 8 percent of Group revenues, rose by 8.4 percent. In Asia-Pacific, business growth was fueled by the Financial Services, Manufacturing and Consumer Goods sectors.

Capgemini Group’s headcount rose 5 percent to 357,000 at March 31, 2023. 207,300 employees work in offshore centers, or 58 percent of the total headcount, up +4 percent.

Capgemini said bookings rose 6.5 percent to €5,867 million in Q1 2023 as compared with 26 percent rise in Q1 2022. The book-to-bill ratio of 1.02 is above the average since 2017.

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