Capgemini has announced its H1 2022 results:

• Revenues were €10,688m, up 22.7% y/y, up 18.5% y/y at CC. 
• Adjusted EBIT was €1,042m, a margin of 12.0%, up 0.2 pts
• EBIT was €1,068m, a margin of 10.0%, up 0.7 pts
• Net debt was €4,094m, down from €4,826m in H1 2022.

Q2 2022 revenues were €5,521m, up 24.4% y/y, up +19.3% y/y at CC, and up 18.1% organic.

H1 2022 revenue breakdown (and y/y revenue growth on an actual and CC basis) was:

• North America: €3,170m (+27.9%, +16.8%)
• U.K. and Ireland: €1,287m (+26.4%, +22.7%)
• France: €2,113m (+12.9%, +12.8%)
• Rest of Europe: €3,161m (+16.7%, +16.9%)
• APAC and LatAm: €957m (+51.2%, +41.5%)

Q2 2022 revenue breakdown (and y/y revenue growth on an actual and CC basis) was:

• North America: €1,661m (+30.7%, +16.7%)
• U.K. and Ireland: €652m (+26.2%, +24.1%)
• France: €1,078m (+14.6%, +14.5%)
• Rest of Europe: €1,615m (+17.6%, +17.8%)
• APAC and LatAm: €515m (+52.6%, +40.7%)

H1 2021 revenue share (with estimates of net revenue and CC growth) by sector was:

• Financial Services: 22% (€2,351m), +14.4%
• Energy & Utilities: 8% (€855m),  +7.3%
• Manufacturing: 26% (€2,779m),  +22.3%
• Consumer goods & retail: 13% (€1,389m),  +22.5%
• Public sector: 14% (€1,496m),  +22.5%
• Telecom, media & technology: 12% (€1,283m), +13.0%
• Services: 5% (€534m),  +28.0%.

Q2 2021  revenue share (with estimates of net revenue and CC growth) by sector was:

• Financial Services: 22% (€1,215m), +16.6%
• Energy & Utilities: 8% (€442m), +8.6%
• Manufacturing: 26% (€1,435m), +23.3%
• Consumer goods & retail: 13% (€718m),  +23.1%
• Public sector: 14% (€773m), +21.9%
• Telecom, media & technology: 12% (€663m),  +11.5%
• Services: 5% (€276m), +32.5%.

H1 2022 revenue growth on a CC basis by service line was:

• Strategy & Transformation: +29.7%
• Application & Technology: +21.1%
• Operations & Engineering: +13.4%

Q2 2022 revenue growth on a CC basis by service line was:

• Strategy & Transformation: +27.5%
• Application & Technology: +21.7%
• Operations & Engineering: +13.9%

H1 2022 adjusted operating margin (and in H1 2020) by region:

• North America: 15.5% (15.7%)
• U.K. & Ireland: 18.4 (17.6%)
• France: 10.7% (7.5%)
• Rest of Europe: 9.8% (11.5%)
• APAC & LatAm: 9.7% (12.5%).

Headcount at the end of H1 2022 was 352,100, up 2./6%. Low-cost locations now represent 59% of Capgemini's headcount.

Q2 bookings were €6,134m, up 18.8% y/y at CC.

Capgemini has updated guidance for full-year 2022:

• Revenue growth of +14.0%-+15.0%, instead of the previous 8.0%-10.0%
• An adjusted operating margin of 12.9%-13.1%,
• Organic FCF over €1,700