France's Capgemini sees slower revenue growth in 2024

French IT consulting group Capgemini, opens new tab on Wednesday forecast slower revenue growth for 2024, anticipating a soft environment in the first half of the year.

"The Group is well-equipped to improve its performance in 2024, while the environment is expected to remain soft in the first half," Chief Executive Officer Aiman Ezzat said in a statement.

The Paris-based firm expects its revenue to remain flat or at best grow 3% in constant currency terms this year. It also projected the operating profit margin to be in the range of 13.3% to 13.6% this year. Margin stood at 13.3% last year.

Capgemini's full-year revenue rose 4.4% to 22.52 billion euros ($24.13 billion), settling near the lower end of its projected 4%-7% growth, as economic challenges and rising geopolitical tensions led to a gradual market slowdown last year.

In the fourth quarter, the group's revenue was 5.62 billion euros, down 0.2% at constant exchange rates.

The group's headcount stood at 340,400 workers at end-December, a 5% fall from a year earlier.

The board proposed a full-year 2023 dividend of 3.40 euro per share, up from 3.25 euros per share for 2022.
($1 = 0.9334 euros)