Capgemini has reported consolidated revenues of €2.05bn for the first quarter of 2010, a decrease of 6.9% compared to €2.2bn for the same period last year. On a like-for-like basis (constant group structure and exchange rates), revenues were down 7.8%.
For the quarter, outsourcing services revenues decreased by 3.3% on a like-for-like basis, while consulting services reported an increase of 3.3% compared to fourth quarter of 2009. Local professional services (Sogeti) remained almost stable (-0.9%).
On a geographical basis, North American revenues increased by 3%, mainly due to the marked recovery in IT investment in the financial services sector, while the UK and France reported declines of 3% and 7.1%, respectively. The rest of Europe, the Asia/Pacific region and Latin America reported a moderate downturn (3.2% on average), while Benelux reported revenues equal to 82% of first quarter 2009 revenues.
Bookings for the quarter were €2.07bn. For the consulting services, outsourcing services and local professional services businesses, the book-to-bill ratio was equal to 1.06 and in the North America region it was 1.30.
For Paul Hermelin, chief executive officer of Capgemini Group, said: “The global economic crisis impacted our industry late on, but signs of a recovery in corporate investment are multiplying. Thanks to the five global service lines set up at the end of 2009, we are ideally placed to benefit from this recovery and enjoy a return to growth in the second half.”
The company maintains its February forecast with revenues for the fiscal year 2010 expected to see a slight contraction of between -2 and -4% on a like-for-like basis. It expects an operating margin rate of between 6 and 6.5%.
