Capgemini SE (OTCPK:CAPMF) Q1 2025 Results Conference Call April 29, 2025 2:00 AM ET
Company Participants
Aiman Ezzat – Chief Executive Officer
Nive Bhagat – Chief Financial Officer
Conference Call Participants
Frederic Boulan – Bank of America
Balajee Tirupati – Citi
Sven Merkt – Barclays
Mohammed Moawalla – Goldman Sachs
Nicolas David – ODDO BHF
Laurent Daure – Kepler Cheuvreux
Toby Ogg – JPMorgan
Michael Briest – UBS
Charles Brennan – Jefferies
Aiman Ezzat
Good morning, and thank you for joining us for this Q1 2025 revenue call. I’ll be joined today by our CFO, Nive Bhagat. So in Q1, the group delivered the performance slightly better than our initial expectation. This comes despite the macro and geopolitical environment that remains challenging.
The group generated revenues of €5,533 million, representing a year-on-year revenue decline limited to minus 0.4% at constant exchange rate, which represents a 70 bps improvement on the Q4 rate. The contribution from M&A in the quarter is around 1 point.
Bookings were up 2.8% at constant exchange rate and reached €5,884 million. This represents a strong book-to-bill over Q1 of 1.06.
Looking at the trends we observed in this first quarter, they are consistent with our anticipation. From a sector perspective, Manufacturing remained weak, with growth rates similar to Q4 and therefore, continue to weigh on the group growth. Financial Services and Public Sector on the other side maintained the good momentum enjoyed in Q4. The improvement compared to Q4 primarily came from the energy utilities, TMT and services sector.
Now from a geo perspective, North America is back to slight growth in Q1 at plus 0.8%. Growth rates in the U.K. and Ireland and Asia Pacific and Latin America are also accelerating, and that’s partly offset by the deceleration observed in the rest of Europe. Finally, France has now past the trough.
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