Paris, May 6, 2010 – Capgemini Group reports consolidated revenues for the first quarter 2010 of €2,052 million:
- Practically unchanged on the previous quarter (€2,049 million)
- Slightly higher than revenues estimated in February
- But still 6.9%* below 2009 first quarter revenues (€2,205 million)
On a like-for-like basis (constant Group structure and exchange rates), Group revenues reflect the following changes:
By business, compared with the fourth quarter 2009, Consulting Services reported a marked increase (+3.3%), while Local Professional Services (Sogeti) remained almost stable (-0.9%). Conversely, Outsourcing Services reported a slump of 3.3%
By region, compared with the first quarter 2009, excluding the programmed and announced reduction in business volume with one of our major clients, North America reported growth of 3%, mainly due to the marked recovery in IT investment in the financial services sector. The United Kingdom continued to resist well to the economic crisis, reporting a drop in revenues of 3% despite the forecast decrease in business with another major client. France reported a drop in revenues (7.1%) close to the Group average, while Benelux reported revenues equal to only 82% of first quarter 2009 revenues, despite contracting to a lesser extent than in the previous quarter. The rest of Europe, the Asia/Pacific region and Latin America reported a moderate downturn (3.2% on average)
Bookings in the first quarter 2010 were in line with forecasts at €2,073 million. For the Consulting Services, Outsourcing Services and Local Professional Services businesses, the book-to-bill ratio was equal to 1.06 and in the North America region it was 1.30, confirming the more rapid recovery in this region.
The headcount increased 1% during the first quarter (to 91,792 employees) and the Group re-launched its dynamic recruitment policy.
This satisfactory start to 2010 strengthens the Groups determination to achieve performance levels in line with forecasts published in February: revenues for the fiscal year should report a slight contraction (of between -2 and -4% like-for-like), with an operating margin rate of between 6 and 6.5%.
For Paul Hermelin, Chief Executive Officer of Capgemini Group: “The global economic crisis impacted our industry late on, but signs of a recovery in corporate investment are multiplying. Thanks to the five global service lines set up at the end of 2009, we are ideally placed to benefit from this recovery and enjoy a return to growth in the second half”.
* A fall of 7.8% like-for-like