(Reuters) – Capgemini announced on Wednesday that it anticipates a slowdown in its revenue growth in 2024, expecting the environment to remain “unpromising” in the first half.
The IT services group expects revenue growth of between 0% and 3% at constant exchange rates this year, following growth of 4.4% in 2023.
It also forecasts an operating margin of between 13.3% and 13.6% this year, compared to 13.3% for 2023.
“This year again, the group plans to grow, with a low point in growth in the first quarter, to strengthen its operating margin and maintain its free cash flow generation at a high level,” said CEO Aiman Ezzat. in a press release.
Capgemini’s annual turnover increased by 4.4% at constant rates to reach 22.52 billion euros, at the lower end of its growth forecasts of 4% to 7%.
“After two years of record growth, the persistence of macroeconomic pressures and the resurgence of geopolitical tensions led to a gradual deceleration of the market in 2023, in line with our expectations,” explains the group.
Capgemini had 340,400 employees at the end of December, a decrease of 5% compared to the same period the previous year.
The board of directors proposed paying a dividend of 3.40 euros per share for the 2023 financial year, compared to 3.25 euros per share for the 2022 financial year.
(Reporting by Lina Golovnya in Gdansk; by Nathan Vifflin, editing by Kate Entringer)
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