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2020-10-27

Capgemini Press Release// Marked recovery in activity in Q3 2020

Media relations:
Florence Lièvre
Tel.: +33 1 47 54 50 71
E-mail: florence.lievre@capgemini.com

Investor relations:
Vincent Biraud
Tel.: +33 1 47 54 50 87
E-mail: vincent.biraud@capgemini.com

 Marked recovery in activity in Q3 2020

             

  • Revenues of €4,008 million, up +18.4% at constant currency* and down -3.6% organically*
  • More than 10% growth in Digital and Cloud which now account for over 60% of Group activity1
  • Strong bookings of €3,896 million

             

Paris, October 27, 2020 - Capgemini Group achieved consolidated revenues of €4,008 million in Q3 2020, up 15.6% year-on-year at current exchange rates and 18.4% year-on-year at constant exchange rates*.

Aiman Ezzat, Chief Executive Officer of Capgemini Group, said: “The quarter, which came in better than expected, brought a significant performance improvement over Q2 across all our regions and businesses. Digital and Cloud continues to expand, up more than 10% year-on-year, and bookings remain strong. We expect Q4 to confirm this favorable trend and record a further but limited improvement, due to recent developments in the health situation. In this framework, our performance for 2020 should exceed the mid-point of the range announced, both for growth and operating margin, and we remain confident in the prospects for further improvement in 2021.

In addition, Altran integration is developing as planned. A 5G & Edge offering was launched, the first of a series of Intelligent Industry offerings.

Finally, the quarter was marked by the adoption of the Group’s Purpose: “Unleashing human energy through technology for an inclusive and sustainable future.” Developed in collaboration with all of the Group’s stakeholders, this Purpose is founded on our belief that technological innovation should benefit all of humanity”.

 (in millions of euros) Change
Revenues

 
2019

2020

 
 At current
exchange rates
At constant
exchange rates
*
Q33,4684,008 +15.6%+18.4%
9 months10,47511,589 +10.6%+11.3%

The Group’s Q3 performance improved significantly on Q2, both for growth at constant exchange rates* and organic* growth. As in the previous quarter, Capgemini benefited fully in Q3 from the consolidation of Altran Technologies (“Altran”) in the Group scope.

With Q3 2020 revenues of €4,008 million, growth at constant exchange rates was +18.4% year-on-year, a considerable improvement on Q2 growth of +13.4%.

The improvement in organic performance (i.e. adjusted for the impacts of currency fluctuations and changes in Group scope) was also substantial, with Q3 revenues contracting only -3.6% year-on-year, compared with -7.7% in Q2.

All Group businesses and regions contributed to this improvement. It also reflects demand, which accelerated once again in Digital and Cloud services. With growth of more than 10%, these activities accounted for over 60% of the Group’s activity in Q3 20201.

For the first nine months of the year, Capgemini growth reached +10.6% on a reported basis and +11.3% at constant exchange rates. Group organic growth saw a limited decline of -3.5%. In the face of the Covid-19 crisis, this demonstrates the resilience of Capgemini’s revenues, strengthened in recent years by the sector and geographic diversification of the Group's client base and the development of a portfolio of innovative offerings.

RESULTS BY REGION

  Change in revenues vs. 2019
at constant exchange rates


 
 
  Q1 2020Q2 2020Q3 2020
North America -0.6%+9.0%+10.0%
United Kingdom and Ireland -2.6%+3.7%+9.1%
France +3.3%+11.8%+20.1%
Rest of Europe +5.1%+24.9%+32.7%
Asia-Pacific and Latin America +11.2%+11.7%+14.0%
TOTAL +2.3%+13.4%+18.4%

The robust Q3 performance was fueled by stronger year-on-year growth rates across all Group regions compared to those of Q2. These higher regional constant currency growth rates, presented in the above table, directly reflect greater underlying organic momentum (i.e. at constant scope and exchange rates).

In Q3 2020, the Rest of Europe region (30% of Group revenues in Q3 2020) reported a return to organic growth year-on-year. Momentum also strengthened in North America (31% of Group revenues) and the United Kingdom and Ireland (11% of Group revenues), despite these regions reporting an organic decline on Q3 2...

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