Capgemini Se · EURONEXT:CAP
Capgemini — Capgemini Se Ord — FY 2024 Earnings Presentation
39 slides from Capgemini's earnings presentation, Feb 18, 2025
Slide 1: FY 2024 Results
FY 2024 Results February 18, 2025
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements. Such statements may include projections, estimates, assumptions, statements regarding plans, objectives, intentions and/or expectations with respect to future financial results, events, operations and services and product developme
Slide 3: Aiman Ezzat, Chief Executive Officer
Aiman EZZAT Chief Executive Officer
Slide 4: Demonstrating resilience in 2024
Demonstrating resilience in 2024 REVENUES BOOKINGS OPERATING MARGIN € 22,096m € 23,821m 13.3% -2.0% cc YoY 1.08 Book to Bill stable ORGANIC FCF NORMALIZED EPS DIVIDEND PER SHARE € 1,961m € 12.23 € 3.40 stable stable Full Year 2024 Results | February 18, 2025 © Capgemini 2025. All rights reserved | 4
Slide 5: Environment remains challenging
Environment remains challenging BUSINESSES SECTORS UK & Ireland Strategy & North America -1.0% Transformation Manufacturing -3.0% -4.1% France Q4 : +1.5% +3.2% Q4 : +1.1% Q4 : -6.1% Q4 : -1.6% -3.5% Rest of Europe Applications & Financial Q4 : -5.8% +0.1% Technology Services Q4 : +0.1% Asia Pacific
Slide 6: Continue to focus on high value-added solutions
Continue to focus on high value-added solutions CLOUD DATA & AI GERMAN INTELLIGENT BANKING INDUSTRY Real time monitoring Edge Cloud Connected Health New Nuclear Future-proof Content Services & maintenance Computing for Hearing Engineering Cloud Infrastructure Platform GLOBAL US GLOBAL GLOBAL APAC GL
Slide 7: GenAI solutions gaining traction
GenAI solutions gaining traction Recognized for our leadership in GenAI in 2024 Leveraging Agentic AI & GenAI to accelerate value creation Main offers with Agentic AI & Recognized by ≃ 4% of our bookings FY 2024 Agentic AI & Gen AI Gen AI assets our clients ≃ 5% of our bookings Q4 2024 Recognized by
Slide 8: 2024 ESG policy achievements
2024 ESG policy achievements ENVIRONMENT SOCIAL GOVERNANCE TOTAL CARBON EMISSIONS GENDER BALANCE GENDER BALANCE IN LEADERSHIP 39.7% Women Women among Group’s -35% Reduction (scope 1,2 & 3) in global workforce Vs. 2019 baseline +0.9pts vs. 2023 29.0% executive leaders +2.8pts vs. 2023 BUSINESS
Slide 9: Focusing on agility to boost growth
Focusing on agility to boost growth Operations Go-To-Market Offering and Talent Simplification Effectiveness Delivery Deployment Competitiveness Full Year 2024 Results | February 18, 2025 © Capgemini 2025. All rights reserved | 9
Slide 10: 2025 Outlook
2025 Outlook REVENUE GROWTH OPERATING MARGIN ORGANIC FCF -2.0% 13.3% around to +2.0% to 13.5% € 1.9bn at constant exchange rates Full Year 2024 Results | February 18, 2025 © Capgemini 2025. All rights reserved | 10
Slide 11: Nive Bhagat, Chief Financial Officer
Nive BHAGAT Chief Financial Officer
Slide 12: Financial Overview
Financial Overview Constant Currency in € m FY 2023 FY 2024 Variation Growth Revenues 22,522 22,096 -1.9% -2.0% Operating expenses -19,531 -19,162 Operating margin 2,991 2,934 -1.9% (in % of revenues) 13.3% 13.3% 0.0pt Other operating income and expenses -645 -578 Operating profit 2,346 2,356 +0.4%
Slide 13: Quarterly Revenue Growth
Quarterly Revenue Growth in € m Constant Currency Growth Q4: -1.1% YoY 5,729 5,697 5,616 5,611 5,480 5,527 5,581 FY: -2.0% YoY 5,377 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Year-on-Year Organic -3.6% -2.3% -2.1% -1.5% -2.4% Group scope +0.3pts +0.4pts +0.5pts +0.4pts +0.4pts Constant Currency -3.3%
Slide 14: Bookings & Book-to-Bill
Bookings & Book-to-Bill Quarterly Full Year Book-to-Bill Book-to-Bill 1.02 1.07 0.96 1.18 1.02 1.09 0.97 1.22 1.07 1.07 1.07 1.08 1.06 1.08 Bookings Bookings 23.7 23.9 23.8 in € bn in € bn 19.5 6.6 6.8 6.1 16.9 5.9 6.1 15.1 5.7 5.3 5.2 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Slide 15: Revenues by Sector
Revenues by Sector Financial Consumer Telco, Media & Energy & Manufacturing Public Sector Services Services Goods & Retail Technology Utilities Year-on-year revenue growth at constant currency in % of FY24 21% 15% 13% revenues 27% 11% 8% 5% Q4 2024 -6.1% +2.0% +2.9% +1.3% +0.6% -2.2% -5.2% FY 2024 -
Slide 16: Revenues & Operating Margin By Region
Revenues & Operating Margin By Region North America France UK & Ireland Rest of Europe APAC & LATAM Revenues in € m, year-on-year revenue growth at constant currency in % of FY24 20% 12% revenues 28% 31% 9% Q4 2024 1,550 1,116 683 1,735 497 5,581 Revenues -1.6% -5.8% +1.5% +0.1% +4.6% -1.1% FY 2024
Slide 17: Revenues by Business
Revenues by Business Strategy & Applications & Operations & Transformation Technology Engineering 29% Year-on-year Operations & Engineering revenue growth at constant currency 9% Strategy & Transformation Applications & Technology Q4 2024 +1.1% -0.2% -1.5% 62% FY 2024 +3.2% -2.1% -2.1% in % of FY24
Slide 18: Headcount Evolution
Headcount Evolution Headcount Evolution Last-12-Months Attrition Dec. 2023 Net variation Net variation Dec. 2024 Offshore Onshore +0.2% 15.7% -1.0pts 340,400 +2,300 -1,600 341,100 Full Year 2024 Results | February 18, 2025 © Capgemini 2025. All rights reserved | 18
Slide 19: Operating Margin Analysis
Operating Margin Analysis in € m FY 2023 FY 2024 Revenues 22,522 22,096 Cost of services rendered -16,474 -16,044 in % of revenues -73.1% -72.6% Gross margin 6,048 6,052 in % of revenues 26.9% 27.4% Selling expenses -1,598 -1,634 in % of revenues -7.1% -7.4% General & Administrative expenses -1,459
Slide 20: Net Financial Result & Income Tax
Net Financial Result & Income Tax in € m FY 2023 FY 2024 Interest on bonds -115 -100 Other interest income and expense 132 160 Net interest expense 17 60 Other financial income and expenses -59 -47 Net financial income / expense -42 13 in € m FY 2023 FY 2024 Income tax -626 -681 Effective tax rate 2
Slide 21: Net Profit Analysis
Net Profit Analysis in € m FY 2023 FY 2024 Variation Operating margin 2,991 2,934 -1.9% Other operating income and expenses -645 -578 o/w Restructuring costs -179 -124 o/w Amortization of intangible assets acquired through business combinations -123 -125 o/w Acquisition and integration costs -59 -52
Slide 22: Organic Free Cash Flow
Organic Free Cash Flow Organic FCF Evolution Organic FCF in € m € 1,961m vs € 1,963m in FY 2023 1,873 1,852 1,963 1,961 Net Debt 1,160 1,288 1,071 1,080 1,119 668 815 € 2.1bn as of Dec 31, 2024 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 vs € 2.0bn as of D
Slide 23: Q&A
Q&A Aiman EZZAT Nive BHAGAT Chief Executive Officer Chief Financial Officer
Slide 24: Appendix
Appendix Capgemini®
Slide 25: Appendix - Index
Appendix - Index 1. Alternate Performance Measures 2. Revenue Quarterly Evolution 3. Q4 & FY 2024 Revenues by Region 4. Operating Margin by Region 5. Operating Margin – Analysis by Nature of Costs 6. Attrition, Utilization & Offshore Leverage 7. Net Cash Evolution (Chart) 8. Net Cash Evolution (Tabl
Slide 26: Alternate Performance Measures
Alternate Performance Measures ▐ Organic growth, or like-for-like growth, in revenues is the growth rate calculated at constant Group scope and exchange rates. The Group scope and exchange rates used are those for the published period. Exchange rates for the published period are also used to calcula
Slide 27: Revenue Quarterly Evolution
Revenue Quarterly Evolution Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Revenues (in € m) 5,729 5,697 5,480 5,616 5,527 5,611 5,377 5,581 Year-on-Year organic growth +10.1% +4.7% +2.0% -0.9% -3.6% -2.3% -2.1% -1.5% Year-on-Year CC growth +10.7% +5.2% +2.3% -0.2% -3.3% -1.9% -1.6%
Slide 28: Q4 & FY 2024 Revenues by Region
Q4 & FY 2024 Revenues by Region Q4 2023 Q4 2024 Variation FY 2023 FY 2024 Variation Revenues Year-on-Year Revenues Year-on-Year Constant Constant (in € m) (in € m) Reported (in € m) (in € m) Reported Currency Currency North America 1,566 1,550 -0.9% -1.6% 6,462 6,188 -4.2% -4.1% UK & Ireland 647 683
Slide 29: Operating Margin by Region
Operating Margin by Region FY 2023 FY 2024 Operating Operating Revenues Revenues Margin Margin (in € m) (in € m) (%) (in € m) (in € m) (%) North America 6,462 1,010 15.6% 6,188 1,022 16.5% UK & Ireland 2,709 504 18.6% 2,753 542 19.7% France 4,537 571 12.6% 4,380 445 10.2% Rest of Europe 6,837 800 11
Slide 30: Operating Margin – Analysis by Nature of Costs
Operating Margin – Analysis by Nature of Costs in € m FY 2023 FY 2024 Revenues 22,522 22,096 Personnel costs -15,341 -15,134 in % of revenues -68.2% -68.6% Purchases and subcontracting expenses -2,977 -2,880 in % of revenues -13.2% -13.0% Travel expenses -322 -293 in % of revenues -1.4% 1.3% Rent, f
Slide 31: Attrition, Utilization & Offshore Leverage
Attrition, Utilization & Offshore Leverage Strategy & Transformation Applications & Technology Operations & Engineering LTM Attrition LTM Attrition LTM Attrition 15.0% +0.2pts 15.0% -0.3pts 17.0% -2.0pts Utilization Rate Utilization Rate 80% 81% 78% 79% 79% 80% 79% 80% Group Offshore 68% 70% 69% 69%
Slide 32: Net Cash Evolution
Net Cash Evolution Operating Amortization Lease debt Working Net Organic Returns to in € m Tax paid Capex net Others margin & Provisions repayment capital Interests FCF shareholders M&A Others FX -292 +520 -521 -214 +37 -310 0 -193 -1,555 -2,047 +2,934 +1,961 -2,107 -827 +104 +257 NET DEBT NET DEBT
Slide 33: Net Cash Evolution
Net Cash Evolution in € m FY 2023 FY 2024 Profit for the period 1,668 1,677 Depreciation, amortization and impairment of fixed assets and right-of-use 700 683 Change in provisions -65 -61 Losses on disposals of assets and others 22 27 Net finance costs -17 -60 Income tax expense / (income) 626 681 O
Slide 34: Cash Flow Statement
Cash Flow In € m Profit for the period attributable to owners of the Company FY 2023 1,663 FY 2024 1,671 Statement Non-controlling interests Depreciation, amortization and impairment of fixed assets and lease right-of-use assets Change in provisions 5 700 -65 6 683 -61 (Gains) / Losses on disposals
Slide 35: Balance Sheet
Balance Sheet ASSETS EQUITY & LIABILITIES Dec. 31, Dec. 31, Dec. 31, Dec. 31, In € m 2023 2024 In € m 2023 2024 Equity (1) 10,454 11,775 Non-controlling interests 19 22 Total equity 10,473 11,797 Goodwill 11,213 12,343 Long-term borrowings 5,071 4,281 Intangible assets 798 837 Deferred taxes 275 267
Slide 36: Comprehensive Income & Change in Equity
Comprehensive Income & Change in Equity in € m FY 2023 FY 2024 Actuarial gains and losses on defined benefit pension plans, net of tax (1) -57 66 Remeasurement of hedging derivatives and NIH, net of tax (2) 50 -10 Translation adjustments (2) -255 443 Other, net of tax (1) 4 0 OTHER ITEMS OF COMPREHE
Slide 37: Bond Debt Maturity Profile
Bond Debt Maturity Profile in € m 1,200 1,000 600 (redeemed at maturity 800 800 800 in Oct. 2024) 600 500 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (Jul.) (Oct.) (June) (Apr.) (Apr.) (Apr.) (June) (Apr.) Full Year 2024 Results | February 18, 2025 © Capgemini 2025. All rights reserved | 37
Slide 38: ESG Policy Indicators
ESG Policy Indicators 2030 2019 2023 2024 Change 2025 Objectives Key Performance Indicators Objective (baseline) vs. 2019 Objective (vs 2019) Sc ope 1 & 2 - Absolute emissions (ktCO₂e) 154.1 13.6 11.2 - 93% - 80% Sc ope 3 - Employee c ommuting emissions per headc ount 1.08 0.50 0.55 - 49% - 55% Envi
Slide 39: About Capgemini
About Capgemini Biraud, Vincent Massoni, Patrick Head of Investor Relations Senior Manager, Investor Relations Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible i