Capgemini Group Q3 Revenues Up 13.2% Organically; Raises 2021 Targets

Capgemini Group (CGEMY.PK,CAPP) recorded an organic growth in revenue of 13.2% year-on-year, for the third quarter of 2021. Digital and Cloud services reported solid double-digit growth in the quarter, accounting for more than two-thirds of the Group's business. For the first nine months of the fiscal year, the company recorded organic growth in revenue of 9.1%. Considering the performance, and the business outlook for fourth quarter, the company once again increased all its 2021 financial targets.

Third quarter revenue was 4.55 billion euros compared to 4.01 billion euros, last year. The growth was 13.6% on a reported basis and 12.9% at constant exchange rates, for the quarter. Bookings were 4.61 billion euros, a 15.0% increase at constant exchange rates year-on-year.

For the 9 months period, revenue increased to 13.26 billion euros from 11.59 billion euros, previous year. The growth was 14.4% on a reported basis and 16.1% at constant exchange rates, for the period.

For 2021, the company now targets: constant currency growth between 14.5% and 15.0%, instead of 12.0% and 13.0% previously; operating margin greater than 12.7%, instead of 12.5% to 12.7%; and an organic free cash flow above 1.70 billion euros, instead of 1.50 billion euros.

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