| | Capgemini has reported
consolidated revenues of
€4,376m for the first
half of 2009, virtually
identical to the same
period last year. On a
like-for-like basis
(constant company
structure and exchange
rates), revenues
suffered a modest 2.2%
decline in line with
forecasts.
Bookings in the first
six months of the year
represented an amount of
€4,433m, once again
mirroring the company’s
first-half 2008 figures
(€4,497m). Bookings
surged 35% in
outsourcing, but were
down 12% on average in
the Capgemini’s three
other businesses
(consulting services, | |
|
| | technology services and
local professional
services). However, the
book-to-bill ratio for
these businesses was
1.07.
Operating margin came
in at 6.6% of revenues,
down one percentage
point on the same
year-ago period. The
fall in operating profit
was steeper, down to
€167m as a result of
restructuring costs
incurred in adapting the
company to the changed
economic landscape.
Capgemini expects
revenues to decline by
between 4% and 6% in the
second half on a
like-for-like basis
(constant company
structure and exchange | |
| |
| | revenues.
Technology services
saw revenues slip just
2.6% while profitability
was 6.1%. Sogeti,
especially sensitive to
changes in the economic
cycle, managed to stem
the decline in its
revenues, which
retreated 5.4% on the
back of a sharp industry
downturn. Its operating
margin was 9.1%.
Consulting services,
also vulnerable to
changes in the economic
mood, saw revenues slip
13.4%. In contrast,
operating margin
remained in double
figures at 10.5% of
revenues, thanks to a
tight rein on operating
performance indicators. | |
|
| |
France remains
Capgemini’s largest
region. Revenues
retreated 4.6%, although
it should be noted that
technology services
reported revenue growth.
The United Kingdom and
Ireland region, where
outsourcing dominates,
delivered strong 12.7%
like-for-like growth.
Benelux, where the
crisis has been
particularly severe, saw
revenues fall 6.5%,
while other regions
reported a decline of
4.0% on average. Italy
and Asia Pacific turned
in upbeat performances,
but elsewhere the gloomy
economic mood weighed on
results. | |
|
| | rates), resulting in a
contraction of 3% to 4%
for the year as a whole.
Tighter cost control
should, however, permit
the company to achieve
operating margin of
around 7% of revenues.
Outsourcing services
delivered 2.6% revenue
growth on a
like-for-like basis
(constant Group
structure and exchange
rates), fulfilling its
role as a stabilising
force among the Group’s
businesses. Operating
margin performed
remarkably well, edging
up nearly two percentage
points to 6.5% of | |
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