Capgemini bets on AI transformation as generative AI bookings hit 10% of quarterly sales

Capgemini Exceeds Revenue Expectations with AI Momentum

French IT services leader Capgemini reported full-year revenue of €22.47 billion ($26.65 billion) for 2025, surpassing its own revenue target and analyst expectations 2

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. The company's revenue grew 3.4% at constant exchange rates, exceeding October guidance of 2% to 2.5% growth 2

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. Fourth-quarter sales surged 10.6%, with newly acquired WNS and Clou4C making a significant contribution after their consolidation 2

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CEO Aiman Ezzat announced that Capgemini is "clearly pivoting" to facilitate artificial intelligence adoption across enterprises 1

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. The shift comes as the company positions itself as a catalyst for enterprise-wide AI adoption, offering software, cloud services, engineering and outsourcing services to corporate clients through partnerships with Microsoft Corp., Alphabet Inc., and French AI firm Mistral 1

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AI Growth Accelerates with 10% Booking Share

The most striking indicator of Capgemini's AI momentum came from Ezzat's revelation that generative and agentic AI accounted for more than 10% of group bookings in the fourth quarter, doubling from around 5% earlier in the year 2

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. This acceleration signals strong client demand for AI-powered business process services as companies rush to integrate AI tools into their operations.

The company has already identified around 100 cross-selling opportunities with WNS and signed an Intelligent Operations contract worth more than €600 million, covering multiple business functions and processes linked to agentic AI transformation 2

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. These AI-led transformation programs are expected to drive future growth alongside demand from the defense industry and for sovereign technology 1

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Revenue Growth Forecast and Strategic Restructuring

Looking ahead, Capgemini forecast 2026 revenue growth of 6.5% to 8.5% at constant exchange rates, slightly above the 7.2% average analyst forecast 1

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. Around 4.5 to 5 percentage points of that growth will come from acquisitions, primarily WNS 2

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To align its workforce with demand for AI-driven services, Capgemini will incur around €700 million in restructuring charges over the next two years, with most occurring in 2026 2

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. The company expects its operating profit margin to expand to between 13.6% and 13.8%, from 13.3% in 2025, while organic free cash flow is projected at €1.8 billion to €1.9 billion, slightly below last year's €1.95 billion due to higher restructuring costs 2

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The group's headcount stood at 423,400 at end-December, up 24% year-on-year, primarily reflecting the integration of WNS employees 2

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. Despite these positive developments, Capgemini faces headwinds from an economic slowdown, tariff uncertainty, and high interest rates that are making companies more cautious about IT investments 1

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. The company also announced plans to sell its US-based Capgemini Government Solutions unit due to scrutiny over its contracts with US Immigration and Customs Enforcement 1

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