Capgemini's Mid-Year 2025 Results Showcase Growth Amid Challenges
Capgemini Reports Financial Results for H1 2025
The highly anticipated financial results for Capgemini in the first half of 2025 have shed light on the company's resilience amidst a challenging economic landscape. Reporting revenues of €11,107 million, Capgemini experienced a slight decline of -0.3% on a reported basis compared to the previous year. However, this figure reveals a notable +0.2% growth at constant exchange rates, signaling positive momentum in the latter part of Q2.
Key Highlights of H1 2025 Performance
Capgemini's operating margin remained stable at 12.4%, underscoring the effectiveness of its operational strategies during turbulent times. In terms of organic free cash flow, Capgemini generated €60 million, significantly impacted by rising restructuring costs, compared to €163 million in the same period last year.
Updated Financial Targets for 2025
As part of its strategic plan, Capgemini updated its financial goals for 2025. The company anticipates a constant currency revenue growth between -1.0% and +1.0%, maintaining its operational margin outlook between 13.3% and 13.5%. Moreover, it remains committed to achieving an organic free cash flow of approximately €1.9 billion, a critical benchmark for investors.
Growth Drivers in the Current Market
Despite the economic headwinds, Capgemini's bookings totaled €11,993 million in H1 2025, trending upward by 2.1% year-on-year at constant exchange rates. The book-to-bill ratio stood at a robust 1.08, indicating significant client demand, driven mainly by improvements in efficiency, enhancing cloud, data solutions, and AI capabilities.
Regional Performance and Demand Trends
Growth dynamics varied by geography, with North America leading with a year-on-year growth of +1.6%. The United Kingdom saw a substantial increase in revenue, attributed to strengthening sectors like Energy, TMT (Telecoms, Media, and Technology), and Financial Services, which recorded their fifth consecutive quarter of growth.
Conversely, revenues from France decreased by -5.0%, reflecting challenges within the Manufacturing and Consumer Goods sectors. Meanwhile, the Asia-Pacific and Latin America regions reported the strongest growth rate of +8.7%, largely from heightened Financial Services demand.
Strategic Acquisitions and Market Positioning
In July 2025, Capgemini confirmed its commitment to innovation and expansion through the acquisition of WNS, a digital-led business transformation firm. This strategic move reinforces Capgemini’s position in the market, creating a synergistic platform for intelligent operations powered by Agentic AI.
Sustainability Initiatives in Focus
Capgemini's dedication to sustainability has been reaffirmed through an updated ESG policy, emphasizing responsible business practices. The company’s commitment to environmental sustainability has been recognized with the prestigious Ecovadis Platinum rating, illustrating its effectiveness in meeting sustainability targets.
Looking Ahead: Q3 and Beyond
As the organization moves into Q3 2025, the outlook remains cautious yet optimistic, highlighting the commitment to enhancing operational efficiency and innovation in emerging fields such as generative AI. Capgemini is well-positioned not only to navigate current challenges but to leverage its capabilities in driving digital transformation and fostering sustainable growth.
Frequently Asked Questions
What were Capgemini's revenues for H1 2025?
Capgemini reported revenues of €11,107 million for the first half of 2025.
How did the operating margin change compared to last year?
The operating margin remained stable at 12.4%, consistent with the previous year.
What is the forecasted revenue growth for 2025?
Capgemini expects a revenue growth range of -1.0% to +1.0% at constant currency for 2025.
What strategic acquisition did Capgemini announce recently?
Capgemini announced its acquisition of WNS, aimed at enhancing its capabilities in intelligent operations.
How is Capgemini addressing sustainability?
Capgemini is committed to sustainability, having updated its ESG policy and achieved a Platinum rating from Ecovadis.
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