Capgemini Revenue Falls on Slowdown as Expected; Backs Full-Year Guidance
By Najat Kantouar
Capgemini posted a lower revenue for the first quarter due to the slowdown across all its regions that had been expected, and backed its full-year guidance.
The French consulting and technology group said Tuesday that revenue for the first quarter fell 3.3% on year at constant exchange rates, or 3.5% at current exchange rates, to 5.53 billion euros ($5.93 billion) from EUR5.73 billion for the same period a year earlier.
At constant exchange rates, revenue in the U.K. and Ireland and Asia-Pacific and Latin America regions both declined 3.2% and 1.7%, respectively. In the rest of Europe--which represents 32% of group revenue--revenue fell 0.5%.In France and North America regions--which represent 20% and 28% of group revenue--revenue fell 2.8% and 7.1%, respectively.
Bookings came to EUR5.655 billion, down 3.5% on year at constant exchange rates.
Capgemini maintained its full-year guidance of constant-currency revenue growth of up to 3%, an operating margin between 13.3% and 13.6% and organic free cash flow of about EUR1.9 billion.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
April 30, 2024 01:43 ET (05:43 GMT)
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