Amid the deteriorating economic and geopolitical situation, the Capgemini group managed to adapt, demonstrating its resilience despite a slight decrease in revenues. In a context like this, the quality of dialogue and trust between CEO Aiman Ezzat and the Board of Directors proved invaluable. In-depth discussions enabled the Board to assess uncertainties and consider factors external to the Group, such as the slowdown experienced by several major clients and the importance of Capgemini’s geographical mix, in light of contrasting trends in demand.
It is nevertheless worth noting Capgemini’s rapid adaptation to this uncertain market, which has seen the Group preserve its financial fundamentals, protect its operating margin and profitability, and maintain its cash flow generation at the very high level achieved in the previous year. These results reflect the Group’s rigorous management and the commitment of our employees, led by a highly motivated leadership team that is constantly adjusting priorities and responding to market challenges.
In addition to these adaptation efforts, the Group has continued to invest. After all, we can’t talk about 2024 without mentioning artificial intelligence. And this is obviously just taking off. The Board of Directors called for a widely attended training session on the topic, while the Group’s mobilization in this area was the subject of in-depth discussions. We analyzed our clients’ appetite in this field, beyond their initial experiments. The rapid adoption of this technology has confirmed its potential to reshape business models and industrial dynamics. Like any major breakthrough, AI opens up new perspectives, but also raises issues that call for a thoughtful, responsible approach. Faced with these developments, Capgemini has chosen to strengthen its strategic commitment by accelerating its training program and the development of its offerings, as part of its €2 billion investment plan. The Group’s image is evolving accordingly: we are recognized as one of the world leaders in the field of AI. The Board is paying particular attention to the Group’s performance and development, especially in North America, which is the leading market for new technologies and where it remains an absolute necessity to work at the forefront of innovation. For this reason, the Board was delighted with the acquisition of Syniti, which consolidates our global footprint and strengthens our position across the Atlantic.
Combining operational rigor and technological ambition seems like the winning combination to all of us. Aiman has demonstrated impressive energy over the past few years and is determined to pilot this course. Around him, I sense a strong collective commitment at all levels of the Group to achieving these objectives. Operational excellence, innovation, and commitment have always been, and will continue to be, the driving forces behind the momentum that will restore growth. In an ever-changing world, our corporate culture and team spirit remain our greatest assets. As in an orchestra, where strength lies as much in the harmony of the collective as in individual expertise, our success is found in our ability to work together with consistency and precision. 2024 proved once again that these values are deeply rooted in Capgemini’s DNA. I would like to thank you, our shareholders, for your confidence. The year ahead promises to be a demanding one, but our Group has already demonstrated in the past its ability to evolve and seize opportunities. We have entered 2025 with lucidity and ambition, and we hold all the cards to transform these challenges into concrete opportunities.
Paul Hermelin
Chairman of the Board of Directors
