By Leo Marchandon
April 30 – French IT services group Capgemini reported a 7% rise in first-quarter revenue at constant exchange rates on Thursday, in line with guidance.
The company, which serves government agencies, critical infrastructure operators and large regulated businesses, said growth would have been 11% without currency swings.
CEO Aiman Ezzat told reporters AI is rapidly reshaping the company’s business mix, with generative and agentic AI accounting for more than 10% of group bookings in the quarter.
He cited Capgemini’s global reach and deeper partnerships with U.S. tech firms, including Google and a new “Frontier Alliance” with OpenAI, as key drivers of growth.
The French IT services giant, which competes with peers such as Sopra Steria and Accenture, has sidesteppedcalls for European tech autonomy, arguing that U.S. Big Tech’s dominance makes any alternative unrealistic.
Revenue rose to 5.9 billion euros ($6.88 billion), while bookings increased 6.2% year-on-year to 6 billion euros in the quarter.
North America grew 20.7% at constant exchange rates to 1.7 billion euros, driven by its recently acquired AI unit WNS.
Sales fell 1% in France, while the rest of Europe posted 1.7% growth.
Group headcount stood at 421,000 at end-march, up 23% year-on-year, reflecting the integration of WNS.
Capgemini confirmed its target of revenue growth around 6.5% to 8.5%.
($1 = 0.8578 euros)
(Reporting by Leo Marchandon in Gdansk; Editing by Sumana Nandy and Nivedita Bhattacharjee)
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