Genpact has announced results for Q4 and full year 2020.

Q4 2020:

• Revenues were $950.6m, up 1.0% y/y, up 1.0% in CC
• EBIT was $113.1m, an EBIT margin of 11.9%, down 81 bps y/y
• Adjusted EBIT was $148m, an adjusted EBIT margin of 15.5%, down 137 bps y/y.

Q4 2020 revenue (and y/y growth) by client type was:

• Global Clients: $841m (+3.7%, +4% in CC), representing 88.5% of total revenues:
• GE: $109m (+15.7%)

Q4 2020 revenue (and y/y growth) by sector was:

• BFSI: $273.4m (-2.6%)
• Consumer Goods $334.5 (9.7%)
• Manufacturing and Services: $342.9m (-4.7%)
• Other: ($0.2m) (-96.2%).

Full year 2020:

• Revenues were $3,709m, up 5.4% y/y, up 6% in CC
• EBIT was $438m, an EBIT margin of 11.8%, down 37 bps y/y
• Adjusted EBIT was $588.8m, an adjusted EBIT margin of 15.9%, flat bps y/y.

Full year 2020 revenue (and growth) by client type was:

• Global Clients: $3,251m (+6.8%,+7% in CC)
• GE: $459m (+4.0%)

Full year 2019 revenue (and y/y growth) by sector was:

• BFSI: $1,079m (flat)
• Consumer Goods $1,265 (14.2%)
• Manufacturing and Services: $1,389m (+3.0%)
• Other: ($23.3m) (+61%).

Full year new bookings were ~$3.1bn, a decrease of 8%

Key clients at the end of 2020: the number of clients in different bands of annual revenue contribution (and in the prior year period) is:

• >$25m: 24 (24)
• $5m-$15m: 85 (72)
• $15m-$25m: 21 (24).

Initial guidance for 2021 includes:

• Revenues of $3.93-3.99bn, up 6% to 7.5%, up 5.5% to 6.5% in CC, with Global Clients revenue up 7% to 9% in CC
• Adjusted operating margin of around 16.0%.