The Board of Directors of Capgemini SE, chaired by Paul Hermelin, convened today in Paris. At the proposal of Aiman Ezzat, Group Chief Executive Officer, it authorized the publication of Capgemini Group estimated results for the first half of 2020. This estimated financial information is currently under review[1] by the auditors. The first half of 2020 results will be published as scheduled[2] on September 3, 2020. In the unprecedented context of the pandemic, the Group considered that it may be useful to publish estimated information covering its main financial indicators.
Aiman Ezzat, Chief Executive Officer of Capgemini Group, said: “In today’s unique context, the Group has been able to build on two key strengths: its agility and its resilience. The entire Group mobilized quickly to meet the challenges of this disrupted environment. The estimated results for H1 2020 illustrate the strength of our operations, which have been considerably reinforced since the 2009 financial crisis. The Group therefore confirms the assessment of 2020 presented on the publication of 1st quarter revenues and expects a gradual recovery in the 3rd and 4th quarters.”
Revenues
Group revenues for H1 2020 are estimated at €7,580 million, up +8.2% year-on-year on a reported basis and +7.9% at constant currency.
Indeed, Q2 revenues rose sharply to 4,033 million as a result of the consolidation of Altran revenues. This represents a year-on-year increase of +13.1% on a reported basis and +13.4% at constant exchange rates. The organic growth which, for Q2 2020, measures growth over to the sum of revenues published by Capgemini and Altran[3] for the same period in 2019, restated at 2020 exchange rates, was -7.7% and reflects the impact of the pandemic on the Group’s overall activity (‑6.9% on former Capgemini scope and -11.6% on former Altran scope).
Over the first six months of the year, organic growth* was -3.4%.
Operating margin
The operating margin* for H1 2020 is estimated at €817 million or 10.8% of revenues. The year-on-year decrease in the operating margin rate is limited to 60 basis points, in line with the Group’s plan to demonstrate in 2020 its greater resilience.
Organic Free Cash Flow
The organic free cash flow* is estimated at circa €100 million in the 1st half, versus €90 million in 2019, despite the increase in 2020 in finance costs and other operating expenses with the acquisition of Altran. This confirms the quality of the Group business model.
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