Capgemini expects annual revenue to fall
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FILE PHOTO: A Capgemini logo is seen at the company's office in Nantes, France, February 13, 2024. REUTERS/Stephane Mahe/File Photo
(Reuters) - French IT consulting group Capgemini said on Friday it now expects its annual revenue to fall compared with the earlier expectation of a rise, citing weakness in the North America market.
The Paris-based group said it now expects its organic sales to fall between 0.5% and 1.5%, compared with a 0-3% rise previously forecast.
"The slope of recovery in the second half will be affected by the recent deterioration of the outlook in the automotive and aerospace sectors and the slower recovery in financial services," CEO Aiman Ezzat said in a statement.
The group confirmed its 2024 operating margin and organic free cash flow targets.
(Reporting by Dimitri Rhodes and Leo Marchandon; Editing by Subhranshu Sahu)
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