Capgemini reports stable revenues in the first quarter

by Editor 4/30/2009 4:14:00 PM
The Capgemini Group posted consolidated revenues for first quarter 2009 of €2,205 million, up 0.9% compared with the same year-ago period and down 0.3% like-for-like (constant Group structure and exchange rates).

Compared with the first quarter of 2008, the Group's revenues reflect the following like-for-like changes:

􀁹 By discipline: Outsourcing Services advanced 1.1% and Technology Services edged up 0.4%; Sogeti declined 0.7% while Consulting Services retreated 9.8%.

􀁹 By region: the United Kingdom & Ireland put in a strong performance (up 7.0%), while revenues in France and Benelux shed 0.8% and 0.6%, respectively. Revenues recorded in North America were 6.9% lower than in the first quarter of 2008.

Bookings in first-quarter 2009 (excluding recent acquisition BAS BV) came in at €2,221 million versus €2,172 million in the prior-year period (at comparable exchange rates and Group structure), and were boosted by a near-40% leap for Outsourcing Services. Although bookings weakened by 9% on average for the Group's other three disciplines (Consulting, Technology and Local Professional Services) due to a wait-and-see approach to new project launches among clients, the book-to-bill ratio for these businesses nevertheless remained in positive territory at 1.04.

These results are in line with expectations and bolster the Group's confidence in its guidance for the first half of 2009 that like-for-like revenues would see a modest decline of around 2% and that operating margin should remain above 6.5% (first-half 2008 operating margin was 7.6%).

At the Group's Shareholders' Meeting held today, Capgemini will ask shareholders to approve the payment of a dividend of €1 per share and appoint two new Directors: Bernard Liautaud, General Partner of Balderton Capital Management and co-founder of Business Objects; and Pierre Pringuet, Chief Executive Officer of the Pernod Ricard Group.

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