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The Board of Directors of Cap Gemini S.A. convened on February 13, 2008 underits Chairman, Serge Kampf, to review and to authorize for issue the audited accountsfor the Capgemini Group, whose financial year ended on December 31, 2007.<\/p>\n\n\n\n
At current rates and perimeter, the Capgemini Group has therefore recorded agrowth in revenues of 13.0%. When excluding perimeter effects (principally theacquisitions of Kanbay and Software Architects) and the effect of foreign exchangerate fluctuations (appreciation of the Euro in relation to the other major currencies),growth still reaches 9.0% for the year, noticeably higher than that of its market.<\/p>\n\n\n\n
The sustained rate of bookings \u2013 almost \u20ac10 billion on the year \u2013 has not sloweddown in the fourth quarter, with a total of \u20ac3,740 million worth of signatures(of which \u20ac1,579 million are linked to the extension by three years of the contractwith HMRC, the British tax authority). Outside of Outsourcing Services, the book-to-billratio is 1.07 for the year.<\/p>\n\n\n\n
The operating margin has continued to rise and has improved in each of the Group\u2019sfour disciplines to reach \u20ac640 million, representing 7.4% of 2007 consolidatedrevenues which is 1.6 points more than that of 2006. For the second half of theyear alone, it reached 8.6%.<\/p>\n\n\n\n
Other operating income and expense stands at minus \u20ac147 million, of which \u20ac90million are restructuring costs, and \u20ac27 million integration costs linked to theintegration of companies acquired during the year (Kanbay and Software Architects).<\/p>\n\n\n\n
After a negative financial result of \u20ac7 million, a tax charge of \u20ac48 millionand a share in profit of equityaccounted companies of \u20ac2 million, the Group netincome excluding minority interests comes to \u20ac 440 million, which is 5.1% of revenuesand a progression of 50% on that of the previous year.<\/p>\n\n\n\n
Acquisitions made during the year have not impaired the financial solidity ofthe Group\u2019s, which on December 31, 2007, had kept a net cash position of \u20ac889million.<\/p>\n\n\n\n
The same day, the Board of Directors decided to propose at the next OrdinaryShareholders\u2019 Meeting the distribution of a dividend of \u20ac1 per share (3) \u2013 upby 43% on that of last year \u2013 a distribution which is equal to a third of theGroup net income excluding minority interests (which is \u20ac3.03 per outstandingshare on December 31, 2007) and in line with Capgemini\u2019s long standing policyon the matter.<\/p>\n\n\n\n
The Group\u2019s headcount grew by 15,600 people in 2007, with strong developmentof the offshore workforce, especially in Technology Services and Outsourcing Services.Mainly situated in India, but also in Poland, China, Morocco and Latin America,the offshore headcount represented 24% of the total Group workforce on December31, 2007 (20,000 out of 83,500).<\/p>\n\n\n\n
The demand for consulting and IT services was sustained throughout 2007 and intothe beginning of 2008. The crisis in the banking sector, triggered a few monthsago by the massive devaluation of assets, which it had to carry out, has up untilnow not had any repercussions on our sector of activity. No more so in the USthan in Europe, has the Group seen a break in its rhythm nor any sign of a slowdown.Bookings are in line with forecasts and sales results for the 4th quarter havemeant that the Group has started 2008 in good shape for growth. Having said this,it is not inconceivable that the difficulties of the banking sector will end upspreading to the whole economy and reach our own disciplines, in which case theGroup would accelerate the implementation of a certain number of measures plannedin its i3 transformation plan (Industrialization, Innovation and Intimacy). Inthis context the Capgemini Group today estimates that it will be able to recordgrowth for 2008 (at constant rate and perimeter) of between 2% and 5%. The Groupis in any case, confident in its ability to record a new improvement in its operatingmargin, bringing it to 8.5% (against 7.4% in 2007).<\/p>\n\n\n