Capgemini Posts Strong FY23 Results

(RTTNews) - Capgemini SE (CGEMY.PK, CAPP), on Wednesday, reported solid results in 2023 despite the weak economic environment, with results exceeding or in line with its financial targets for the year.

FY23 revenues were EUR 22.5 billion, 2.4% higher than the previous year's EUR 21.9 billion. Constant currency growth was up 4.4%, within the 2023 target range of +4% - +7%.

Net profit was EUR 1.663 billion in 2023 versus EUR 1.547 billion in the year 2022. On a per share basis, normalized earnings rose to EUR 12.44 from EUR 11.52 last year.

Bookings totaled EUR 23,887 million in 2023, a year-on-year increase of +2.6% at constant exchange rates, representing a book-to-bill ratio of 1.06 for the year, and 1.18 in Q4.

As on December 31, 2023, the Group had cash, cash equivalents, and cash management assets of EUR 3.7 billion. After accounting for borrowings of EUR 5.7 billion and derivative instruments, Group net debt is EUR 2.0 billion, down compared with EUR 2.6 billion at December 31, 2022.