Teleperformance SE (TLPFF.PK,TEP.PA) Tuesday reported first-quarter revenues of 2.43 billion euros, down 6.9% from 2.61 billion euros last year. On a like-for-like basis, first quarter revenues were down 2.2%.
Revenues from Core Services, which include Americas and Europe, MEA & Asia-Pacific, were 2.10 billion euros, down 6.4% from 2.25 billion euros last year.
Jorge Amar, CEO of TP Group, said: "I have spent my first weeks at TP with boots on the ground, talking with clients and teams, and what I have seen reinforces my conviction in TP's direction. Client conversations are about transformation, with outsourcing increasingly recognized as a core strategic lever. In this environment, TP's balance sheet strength, proven delivery capabilities and operational discipline are decisive competitive advantages. While short-term volatility was anticipated, the strength of our commercial pipeline and the quality of our execution give us confidence in our ability to deliver the 2026 objectives. Finally, I am very pleased with the arrival of Andreas Braun, a very well recognized AI expert globally, who will play a pivotal role in shaping TP's future in this defining moment for our whole industry."
For 2026, the company expects group like-for-like revenue growth to range between 0.0% and 2.0%, while maintaining a stable recurring EBITA margin of around 14.6%. Net free cash flow is projected at €800-850 million, excluding non-recurring cash outflows, with a softer performance in the first half of the year followed by an acceleration in the second half, similar to trends seen in 2025.
Looking further ahead, the company's 2026 - 2028 financial objectives include a return to sustained mid-single-digit like-for-like annual revenue growth, reaching 4 - 6% by 2028. It also aims to achieve a recurring EBITA margin of around 15.5% by 2028, supported by its AI transformation initiatives.
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