We announced our Q1 results this morning. Our headlines highlighted the increase in first quarter revenues up 2.3% and crossing the threshold of 50,000 colleagues in India. You can read the full press release here.
The Capgemini Group generated consolidated revenues of €2,503 million in the first quarter of 2014, up 2.3% at constant Group structure and exchange rates compared to the first quarter of 2013. At current Group structure and exchange rates, revenues were stable (+0.2%). The difference between these two rates is mainly due to the unfavorable evolution of the U.S. dollar and the Brazilian real.
Bookings amounted to €2,224 million, up 5% compared to the same period in 2013. The combined book-to-bill ratio of Consulting Services, Technology Services, and Local Professional Services stood at 1.05. We reported a four point increase in offshore penetration over 2013 to 45% representing more than 60,000 employees.
In this video Capgemini Group CFO Aiman Ezzat comments on our results:
Focus on UK
The United Kingdom and Ireland region grew moderately at +2.7% despite decline in public spending. TechMarketView reported on UK performance earlier: "Capgemini’s UK business continued to grow in Q114. UK revenue growth (at constant currency) was 2.7% to €510m “despite a continuing decline in the public sector business”; this compares favourably to the 0.9% revenue growth reported for FY13 but down on the 3.9% growth in Q413 (the previous quarter)." TechMarketView does, however, suggest that Capgemini "has some catching up to do over the rest of the year if it is to meet its guidance of 2-4% organic growth for FY14."
Our results were also covered by Reuters: Capgemini confirms full-year goals, Wall Street Journal: Capgemini confirms targets after 1Q revenue little changed, and RTT News.
Paul Hermelin, Chairman and CEO of Capgemini said: "We began 2014 with a stronger momentum than 2013. It is by playing our two strengths – competitiveness and innovation – that we best meet our clients’ needs. Competitiveness, supported by the power of our offshore platforms. Innovation, through the constant development of new offerings around cloud, big data and digital to enable our clients’ business transformation."
Visit our Investor Relations pages to see the detailed presentation given to analysts via conference call this morning.