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FINANCIAL INFORMATION
4.1 Analysis on Capgemini 2016 Group consolidated results
4
164
Registration Document 2016 — Capgemini
Operations by business
4%
Consulting Services
15%
Technology
and Engineering
Services
60%
Application Services
21%
Other Managed
Services
overall stable compared to 2015 and reached 70% in the last
quarter. The operating margin stood at 10.7% of revenues
compared with 9.1% in 2015.
the other businesses. Overall, the activity volume increased by
more than 5.0%. This increase was driven notably by the United
Kingdom and the Rest of Europe region. The utilization rate was
Consulting Services
(4% of Group revenues) grew 2.7% at
constant exchange rates and is supplemented by the rapid
development of Digital Consulting Services initiated and billed by
improved 120 basis points to 12.8% in 2016.
Technology & Engineering Services
(15% of Group revenues,
previously known as Local Professional Services) grew 6.9% at
constant exchange rates. Growth in the Rest of Europe and North
America regions more than offset the slight slowdown persisting in
France, and adds to the IGATE impact. The operating margin
Application Services
(60% of Group revenues) growth was a
strong 10.6% at constant exchange rates. In addition to the
positive IGATE impact, growth was driven by strong momentum in
Europe - notably France, the United Kingdom, Germany and
Scandinavia - and Asia. Application Services are also the first
beneficiary of the rapid development of Digital and Cloud services.
The operating margin rate is 12.7%, up 80 basis points on 2015.
despite growth in Business Services (Business Process
Other Managed Services
(21% of Group revenues) reported a
2.2% increase in revenues at constant exchange rates in 2016.
Excluding changes in Group scope, revenue is down year-on-year
Outsourcing and platforms). The pressure from the transition to
the Cloud on traditional infrastructure services was accentuated
this year by the decline in the UK public sector, which was
anticipated at the beginning of the year, but also lower equipment
resale. The operating margin rate at 10.0% is up 40 basis points
on 2015.
Results by business
Revenues
(in millions of euros)
2015
2016
Consulting Services
480
506
Technology and engineering services
1,744
1,873
Application Services
6,997
7,557
Other Managed Services
2,694
2,603
TOTAL GROUP
11,915
12,539
Operating margin
(as a % of revenues)
2015
2016
Consulting Services
9.1%
10.7%
Technology and engineering services
11.6%
12.8%
Application Services
11.9%
12.7%
Other Managed Services
9.6%
10.0%
TOTAL GROUP
10.6%
11.5%
production employees. 2015 utilization rates have been computed to better take into account the onshore/offshore mix. It should be
The following table presents the utilization rates (on a like-for-like basis) measuring the percentage of work time, excluding vacation, of
number of graduates recruited in offshore production centers.
noted that the year-on-year decrease in the utilization rate in Application Services at the end of the year is mainly attributable to the high
Utilization rate
2015
2016
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Consulting Services
71% 71% 68% 70% 70% 71% 68% 70%
Technology and Engineering services
81% 82% 84% 83% 82% 83% 83% 83%
Application Services
81% 81% 82% 83% 81% 81% 82% 81%