We Look Closer, Case Study With Capgemini
01 July 2021
Capgemini, excerpts from April 29, 2021 Q1 revenue press release:
« The Capgemini Group reported Q1 2021 revenues of €4,271 million, up 24.2% at constant exchange rates compared to the same quarter in 2020.
Aiman Ezzat, Group CEO of Capgemini : "We are achieving a very good first quarter 2021 and returning to organic growth." ''
I didn't quite understand the "return to organic growth" when they announced +24%.
Then I found the answer: Capgemini bought Altran, which is integrated in the accounts from April 1, 2020. So this "+24%" is an apples to pears comparison (the 2020 figures are without Altran and the 2021 figures with Altran!). If we don't take into account the acquisition, Capgemini's growth is ... +1.7% in Q1 2021.
So I ask you: is it normal that the share, which was worth €109 on December 31, 2019, is worth €164 (+50%) today?
Have a great week,
Charles
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