Capgemini generated revenues of €11.42 billion in the first half of 2023, up 6.9 per cent, with organic growth was up by 7.3 per cent.
The French service provider said that after two years of record growth, the more challenging macroeconomic environment led to a slowdown in line with its expectations.
Capgemini growth in the second quarter was lower than in the first, reaching 5.2 per cent at constant exchange rates and 4.7 per cent organically.
The company said this performance is driven by “good momentum” in its added-value services, particularly in Intelligent Industry, activities driven by cloud, data and AI, which are clients’ major digital transformation projects.
The first half report shows operating margins of €1.4 billion, or 12.4 per cent of revenues, an increase of nine per cent or 20 basis points year-on-year.
Other operating income and expenses represent a net expense of €262 million, up €29 million year-on-year.
Capgemini’s operating profit was up 8 per cent at €1,151 billion, or 10.1 per cent of revenues.
The United Kingdom and Ireland region saw growth of 12 per cent at constant exchange rates.
This performance was mainly driven by public sector and manufacturing, consumer goods and retail, and financial services sectors. The operating margin remains at the same high level as in H1 2022, at 18.4 per cent.
Capgemini CEO Aiman Ezzat said that the group delivered solid performance in the first half. In a softer economic environment.
“We achieved 7.9 per cent revenue growth at constant exchange rates and operating margin improvement. These results put us among the leaders in our industry. Thanks to a strong strategic positioning, we continue to gain market share as we accompany our clients in their transition towards a digital and sustainable economy,” he said.
