Capgemini reveals steady growth in Q3 2023

Aiman Ezzat, Capgemini CEO | Capgemini Q3

The Capgemini Group has reported consolidated revenues of €5.48m in Q3 2023, down 1.3 percent compared to last year’s Q3 of €5.55m, but demonstrated steady growth over the quarter.

Strategy and transformation services maintained robust growth with a 5.1 percent increase in total revenues at constant exchange rates. Applications and technology services reported a 2.8 percent increase and made up a total of 63 percent of group revenues and Capgemini’s core business. Finally, operations and engineering total revenues grew 0.9 percent at constant exchange rates.

The company’s bookings totaled €5.275m in Q3 2023, an increase of one percent at constant exchange rates year-on-year (YoY).

The highest growth for the quarter was the rest of Europe at 30 percent, with UKI continuing its solid momentum at 12 percent. France saw group revenues growth of 19 percent, followed by APAC and LATAM at ten percent, driven by growth in the public sector, consumer goods and retail and manufacturing sectors. North America, however, reported a decrease of four percent.

Aiman Ezzat, CEO of the Capgemini Group, said: “The Group delivered a solid performance in the third quarter in a challenging economic environment.

“The dual transition to a digital and sustainable economy continues to be at the top of our clients’ strategic agendas. Their appetite for technology has never been greater, fueled by constant innovation such as generative AI and the proliferation of its use cases to drive growth, deliver new services and optimize operations. Demand for GenAI accelerated in the third quarter with over 100 projects signed and a strong pipeline. As part of our €2bn investment plan announced in July, we launched our GenAI campus to scale up training for all our employees.

“…Thanks to this third-quarter performance, we confirm all our full-year objectives.

The company’s Q3 saw an array of partnerships and acquisitions. One of the company’s latest acquisitions was HDL Design House, to enable the group to extend its global silicon engineering capabilities.

Additionally, Capgemini partnered with Kuehne+Nagel to form an eco-friendly partnership; with Salesforce – for the launch of GenAI for CX Foundry; and with financial crime practice Exiger as the company signed an agreement to acquire its financial crime compliance division.