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Integrated Annual Report 2021

Letter  Paul Hermelin Chairman of the Board

“I will continue to ensure that Capgemini’s governance is a model of excellence [...] and will help to give the Group the means to continue successfully along its path.”
Read the letter

A new dimension Aiman Ezzat Chief Executive Officer

“Our clients trust, and our ability to establish ourselves as the strategic partner in their transformation, enabled Capgemini to achieve a whole new dimension in 2021.”
Read the letter

2021, a record year

Results: remarkable growth

In 2021, Capgemini’s results exceeded all its targets, which had been raised twice. These successful results are the outcome of the Group’s positioning as a strategic partner for its clients for digital transformation. This performance is also supported by the successful integration of Altran, one year ahead of schedule.

Operating margin* a progression of +1.0 pt *The terms and Alternative Performance Measures marked with an (*) are defined and/ or reconciled in the appendix to the Full-Year 2021 Results press release available on
Revenues increase of +14.6%
Organic free cash flow* €1,873 M

Significant deals: bookings on the rise

We help our clients succeed in their digital transformation, create new business models, consolidate operational efficiency, and enhance their capacity to innovate. In 2021, our bookings totaled €19.5 billion, an increase of 15.8% at constant exchange rates, year-on-year.

Brand visibility: on every field

Capgemini’s brand awareness and visibility continue to rise. 2021 was marked by a strong increase of our investments in sports sponsorship, innovative partnerships and advertising. These actions bring to life our brand promise: Get The Future You Want, which embodies our mindset and commitment.

Sean Fitzpatrick - New Zealand first Rugby World Cup winner in 1987

The story of rugby is a story of transformation from humble beginnings to a global stage. When I first pulled on the New Zealand jersey, I stepped onto the field at the first Rugby World Cup. The game was not yet professional.

We played for the love of sport and for each other.

We were bound together by unwavering values. Trust, respect, passion, solidarity and team spirit. As Captain, I understood that inspiration. It was contagious. The sport has evolved. The players, the coaches, the fans have grown together. Technology has helped us drive the game to new heights. To get the future we want. Every element of performance is now measured, evaluated enhanced and improved.

The game is faster. The momentum greater. The margins tighten. It has stirred the emotions of fans across the globe and raised international superstars. Capgemini has been a passionate supporter of the game for over 30 years. As a worldwide partner of Rugby World Cup, France, 2023, Capgemini continues to enable the evolution of the game because whilst technology has changed the sport forever, the values of the game remain steadfast.

Trust respect, passion, solidarity and team spirit. True values shared by rugby and Capgemini.

Inclusion: digital for all

Our teams are passionately committed to bridging the digital divide. Mentoring young people in Poland, digital training for girls in Southeast Asia and Morocco... our actions have a concrete impact.

Our talent, our priority

“Diversity creates value within the firm. More diversity will make Capgemini more innovative and rich – so it’s a real conviction we’re working with, rather than doing it just because it sounds good.”

Aiman Ezzat, Chief Executive Officer

“Learning is at the heart of our people agenda. We launched our learning platform in 2020 and it has been going strong ever since. Today, more than 95% of our people use it regularly.”

Anne Lebel, Chief Human Resources Officer

Innovate for tomorrow

Kian Seah – CEO of Heng Hiap Industries

My name is Kian Seah. I'm the CEO of Heng Hiap Industries Malaysia. Heng Hiap is an integrated plastic recycling company that works with 28,000 domestic plastic recyclers to convert plastic scrap and upcycle that to high performance plastic using our in-house smart waste technology. Eco-conscious users will have a critical role in deciding how plastic products are being made in the future.

Essentially, the user wants to know three things. What is the recycled content in the product that I'm using? What is the recycled content and where do they come from? And number three is where do this plastic product go after use? With the digital transformation, we can enable a smart recycling model that allows the users to do all three mentioned above. and the eco-conscious users start to look for a tool which can help their journey in becoming true, conscientious consumers.

And we believe our tool is the solution to achieve this goal. Together with Capgemini, we built a five-year model based on regional scalability, sustainability landscape and recycling-made-easy features. In the midst of pandemic, we managed to make insightful progress through design thinking via digital mural. We conducted multiple workshop to design the mobile apps and build future roadmaps, which include app features, functional flow, high level screen design and iteration roadmaps.

Kian Seah presents the screens of the application: onboarding is simplified, interactive games are present with a swipe system, dashboards are more intuitive, the possibility of booking trips, information on recycling, means payment facilities, work planning and a section dedicated to help and resources.

We were pleasantly surprised of how much we can achieve digitally. I think continuous education is important in order to motivate behavioural change in consumption and also to enable data collection. Once the users know that their efforts in plastic recycling are done properly through transparency, traceability and visibility of the entire lifecycle, they will be motivated to become more involved in ensuring the full circularity of the plastic consumed.

A noteworthy moment for me was during the design thinking phase where the extended Heng Hiap team comes together with the Capgemini team which involves the AIE, the ASE, the Digital Customer Experience team,

Capgemini Design Studios team. And we started going back and forth, learning from the past experience, rethinking current best practices, and imagine the future relationship of plastic consumption and also with its user. We need Capgemini as an innovation venture partner for regional expansion, particularly in the other seven Southeast Asian countries, which are also on the top ten ocean pollution list.

We notice the similar fragmented landscape and the hidden treasure of informal and independent grass root recyclers in this ecosystem. In short, we want to scale regionally together while making global impacts together, to combat plastic pollution together.

Steinar Danielsen – Sustainability Lead, Volvo Car Mobility

We at Volvo Car Mobility have provided a service called M, where we are offering the access of cars instead of ownership of cars.

We start with three simple questions: when do you need a car? Where would you like it? And what type of car do you want?

And from there our algorithms match the right car with the right customer. And that data-driven approach that we have allows us to get more people into fewer electric cars with a higher level of satisfaction.

We at Volvo Car Mobility are passionate about our planet and contributing to a more sustainable future. That’s why we work with partners who not only participate, but also actively expand the sustainability conversation.

So we partnered with Capgemini Invent to understand the impact of our business model in the cities where we operate.

And we’re really pleased to find out that our service provides impact on all three pillars of sustainability. Both environmental, economic and also social sustainability.

Capgemini Invent’s data-driven insights have really helped us make everyday decisions that further enhance the positive sustainability effects of our service.

We have worked closely with their team, and the success of the project has really come from everybody’s voice and skills coming together as one.

Our innovation ecosystem

Capgemini has an extensive network of innovation centers, labs, design studios, centers of expertise, and a venture capital fund. We deploy a world-class network of local and global delivery centers and a curated ecosystem of partners, startups, and academies.

01.We stay ahead of the wave, by tracking emerging signals and preparing Capgemini for the next advances in technology.

  • Global orchestration of all Group innovation efforts
  • Capgemini Research Institute (23 studies published in 2021)
  • Technovision, an annual report featuring the key technology trends to watch
  • Academic partnerships (including Stanford University, Massachusetts Institute of Technology, Nobel Prize Outreach...)

02.We decode and test technologies, to filter out hype from true and meaningful evolutions.

  • Every year we assess 1,000+ technologies and solutions and assess their readiness with technology assessment services (TAS).
  • 90+ research labs, three 5G Labs, one quantum lab

03.We apply technology to relevant use cases by selecting those that best fit the client needs.

  • 21 Applied Innovation Exchanges to co-innovate with our clients
  • Capgemini Ventures, our fund to invest when we find highly promising opportunities

04.We tailor our approach to each client by co-creating and building unique solutions. The nature of our approach varies depending on the impact level and the engagement model.

  • 10 priority industries, knowledge for all our sectors to make innovation relevant and accessible
  • Leading global creative consultancy frog, part of Capgemini Invent, comprised of 39 design studios
  • Capgemini Ventures uses an open-innovation approach with innovative startup technologies and ecosystem management
  • Applied Innovation Exchange specialization is able to draw on deep awareness of technologies and sectors

05.We deliver at scale to allow our clients to transform in depth.

  • Proven expertise in innovation with the power of data and intelligence built in
  • ~150 Centers of Excellence
  • A global ecosystem of technology partners, including the 10 biggest technology companies worldwide
  • ~50 local and global delivery centers

A unique combination of business lines, industry expertise and offerings

    • Telecommunications, Media & Technology
    • Public Sector
    • Manufacturing
    • Financial Services
    • Energy & Utilities
    • Consumer Goods & Retai
    • Services
    • Operations
    • Strategy & Transformation
    • Applications & Technology
    • Engineering
  • Capgemini supports its clients in the three key areas: managing customer relationships; managing industrial assets; and functional agility. Capgemini provides its clients with key technologies such as cloud, data and artificial intelligence. The Group also works to improve clients’ cybersecurity and environmental impact.

    CUSTOMER FIRST: Helping our clients to deliver exceptional personalized experiences and to continuously reinvent their business and offering.

    INTELLIGENT INDUSTRY: Harnessing the potential of technology and data to transform and digitize products, industrial operations, and connected services across industries.

    ENTERPRISE MANAGEMENT: Delivering, transforming and managing operations for digital core, business processes, and enterprise applications for greater agility and operational efficiency.

    Cloud – Data & AI – Cybersecurity - Sustainability

See our business model

Customer first

Helping our clients to deliver exceptional personalized experiences and to continuously reinvent their business and offerings

Intelligent Industry

Harnessing the potential of technology and data to transform and digitize products, industrial operations, and connected services across industries

Enterprise management

Delivering, transforming and managing operations for digital core, business processes, and enterprise applications for greater agility and operational efficiency

Extra-financial performance

ESG indicators

Capgemini is a responsible leader, determined to have a positive impact on all stakeholders within its ecosystem. As a Group we believe that digital transformation should benefit all of humanity and we intend to be a benchmark in terms of our contribution to society, for our own activities, and for those of our clients.

Becoming a net zero business

Well ahead of 2050

(in TCO2e per employee)

-83.6% vs. 2015

reduce business travel emissions
(in TCO2e)

2030 Target: -50% vs 2015 baseline

Transition to 100% renewable electricity

By 2025

Share of renewable electricity

2025 Target: 100%

increase average learning hours per employee by 5% every year

* Capgemini legacy

** Capgemini group (Capgemini + Altran)

40% of our workforce will be women

By 2025

5 million beneficiares through our digital inclusion programs

By 2030

Maintain best in class corporate governance
Top quartile
Positioning of the group in the ESG MSCI* Ranking

* Compared to peers

** Percentage of new suppliers above 50K euros spend committed to the ESG Standards enforced by Supplier Standards of Conduct commitments

Maintain ethics score between 7 and 10 for 80%+ of the workforce
Suppliers covering 80% of purchase amount committed to ESG standards

By 2030


Financial performance

2021 Key figures

“Capgemini achieved a remarkable performance in 2021, exceeding its objectives. This marks a successful first step in achieving our 2025 ambition.”
Carole Ferrand Chief Financial Officer

+ 15.1%  over a year at constant exchange rates

Revenues in billions of euros

  • 14.1 Revenues in billions of euros in 2019
  • 15.8 Revenues in billions of euros in 2020
  • 18.2 Revenues in billions of euros in 2021

+ 25% in value

Operating margin* in millions of euros

  • 1,741 of Operating margin* in millions of euros in 2019
  • 1,879 of Operating margin* in millions of euros in 2020
  • 2,340 of Operating margin* in millions of euros in 2021

* The operating margin, one of the principal indicators of Group performance, corresponds to the difference between revenues and operating costs. It is calculated before the “other products and operating costs”.

Organic free cash flow in millions of euros

  • 1,288 of Organic free cash flow in millions of euros in 2019
  • 1,119 of Organic free cash flow in millions of euros in 2020
  • 1,873 of Organic free cash flow in millions of euros in 2021

Normalized earnings per share in euros

  • 6.76 of Normalized earnings per share in euros in 2018
  • 7.23 of Normalized earnings per share in euros in 2019
  • 9.19 of Normalized earnings per share in euros in 2021

Where to find us Discover our key contacts across the globe.

See our contacts
Artwork by Ludovilk Myers 1
Artwork by Ludovilk Myers 2
Artwork by Ludovilk Myers 3
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Artwork by Ludovilk Myers 5
Artwork by Ludovilk Myers 6

Capgemini would like to sincerely thank Ludovilk Myers

for his contribution to our 2021 collection of reports.
See more of his work on


Graphic design, production and editorial

WordAppeal & Studio L’Éclaireur

Artist – All rights reserved

Ludovilk Myers -

Photographers – All rights reserved

Pierre-Emmanuel Rastoin

Copyrights – All rights reserved

Heng Hiap Industries • OncoHealth • Vodafone • Volvo Car Mobility