Capgemini Se Ord

2020 has been a challenging year for all of us. We continue to demonstrate our resilience and agility. And today, more than ever, as a strategic partner, Capgemini is enabling its clients' transformation. We are helping them with today's context while preparing them for the future. We saw this resilience and agility reflected in our H1 results in September, which were quite satisfactory. And we confirmed this trend in Q3, where the speed of recovery was faster than we anticipated. Particularly within today's context, I would even say that Q3 was a very good quarter. We delivered a strong performance in Q3 with revenues of 4 billion and 8 million euros and a constant currency growth at 18.4% year on year. As in Q2, this growth primarily reflects the integration of Altran, but the underlying trends are also improving. Our organic growth in Q2 was minus 7.7%. In Q3, we reversed this trend and showed an organic growth of minus 3.6%. We can also see nice momentum in bookings, which were at 3.9 billion euros. This represents an increase of 17.4% year-on-year at constant currency. Digital and cloud remain our main growth engines, growing by more than 10% year on year. We continue to see a strong appetite from our clients. In this domain, it now represents more than 60% of group activity. Sectors are recovering at different speeds but in general we see improvement across all sectors compared to Q2. Banking and insurance are back to organic growth and our clients are showing a willingness to invest in order to adapt not only to the current climate but also as a way of preparing the future of their business. The public sector remains strong as clients have recognized the need to invest in digitalization. Likewise, Telco saw a very interesting performance and this is a testament to the added value coming from Altran. Manufacturing as well as the services industry have seen more improvement but are still not positive in Q3. After a moderate Q2, we can note a marked recovery across all our businesses and regions. We've seen strong double-digit growth at constant currency across almost all geographies and a visible improvement on a like-for-like basis. momentum strengthened in North America and in the United Kingdom and Ireland. France remained the most impacted region in Q3, with the largest organic decline. However, the underlying trend improved significantly in Q3. The rest of Europe reported a return to organic growth. Asia Pacific and Latin America continue to grow and remains our most dynamic region. And to finish the snapshot, the performance of all our business lines has improved. We are seeing a clear trend in Q3 across all dimensions. Our clients are looking for cost reduction and resilience, and this combination provides many opportunities for consolidation and simplification. Within IT, this can be anything from the replacement of legacy infrastructure to the simplification of applications landscape, to clients moving their entire organizations into the cloud. Our pipeline is also fueled by cloud and digital transformation deals, as some of our clients are looking to prepare their future competitiveness. Cyber is also in demand. And we see more and more clients working on improving their environmental sustainability, where we have strong offerings to assist them. With the Altra acquisition, we are more relevant than ever to our clients. We are moving forward as expected with the integration and the new organization will go live in January. And we have already won 30 joint deals and have just launched our 5G and Edge offer, the first of three intelligent industry offers which will open new business opportunities. In Q4, we anticipate continued improvement, but at a slower speed compared to Q3. As I mentioned earlier, the speed of recovery was faster than we expected, but we remain cautious. The health crisis is still very present. Like everyone, we lack visibility on how the pandemic will evolve and how local governments will react. These two factors will clearly impact our clients' businesses and their ability to invest further around new projects. Nonetheless, we are in line with our full-year objectives and expect to land above mid-range. Revenue grows between 12.5% and 14% at constant currency. with an estimated contribution from acquisitions of 17 points, operating margin which will be slightly contracted between 0.6 and 0.9 points compared to 2019, organic free cash flow over 900 million euros. Turning now to 2021, we need to be cautious regarding the latest evolutions of the health crisis. The environment remains very uncertain. However, we are looking forward to next year with ambition. We continue to grow in digital and cloud, and the Altran integration