REVENUS in billions of euros
Capgemini reported revenues of €22,522 million in 2023, up +2.4% vs. 2022 published figures. Constant currency growth was +4.4%, within the 2023 target range of +4% to +7%. With acquisitions contributing +0.5 point to growth, organic growth (i.e., excluding the impact of currency fluctuations and changes in Group scope) reached +3.9%.
OPERATING MARGIN(1) in millions of euros
The operating margin increased to 13.3% of rev-enues, or €2,991 million, up +4% in value com-pared to 2022. This year-on-year improvement of 30 basis points exceeds the target of 0-20 basis points set for 2023.
ORGANIC FREE CASH FLOW(2) in millions of euros
Organic free cash flow generation totaled €1,963 million, above the “around €1.8 bn” target for 2023.
NORMALIZED EARNINGS PER SHARE in euros
Normalized earnings per share is €12.44. In 2022, the Group had recorded a tax expense of €73 mil-lion related to the impact of the US tax reform. Taking into account the average number of shares outstanding, this represented an amount of €0.43 per share. Including this tax expense, normalized earnings per share were therefore €11.09.
(1) Operating margin is one of the Group’s key performance indicators. It is defined as the difference between revenues and operating costs, and calculated before “Other operating income and expense”.
(2) Organic free cash flow is equal to cash flow from operations less acquisitions of property, plant, equipment and intangible assets (net of disposals) and repayments of lease liabilities, adjusted for cash out relating to the net interest cost.