CAP Capgemini

By Andrea Figueras

Capgemini confirmed its forecasts for the year after revenue grew in the third quarter despite a gradual slowdown that was also seen in previous quarters.

The French consulting and technology group on Tuesday posted revenue of 5.48 billion euros ($5.87 billion) for the three months to the end of September, up 2.3% at constant currency and 2% organically.

Europe excluding France accounted for the lion's share of revenue, contributing EUR1.63 billion to the total. Asia-Pacific and Latin America revenue grew 7.6% at constant exchange rates to EUR518 million, accounting for the smallest contribution for group revenue.

Analysts had forecast revenue of EUR5.497 billion, according to FactSet.

Bookings grew 1% at constant currency to EUR5.275 billion, with a book-to-bill ratio of 0.96, a strong performance given the usual seasonality of bookings, the company said.

Customers are increasingly focusing on projects with a faster payback, such as those that boost operational efficiency, which in turn drives the steady growth of the company's innovative offers, Capgemini said.

For the year, the company continues to estimate constant-currency revenue growth between 4% and 7%, an operating margin of 13% to 13.2%, and organic free cash flow of around EUR1.8 billion.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

November 07, 2023 01:46 ET (06:46 GMT)

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