2000 first-half results of the Cap Gemini Ernst & Young Group
14 September 2000
Paris, September 14th, 2000
2000 first-half results of the Cap Gemini Ernst & Young Group
The consolidated and audited financial statements of the Cap Gemini Ernst & Young Group for the first six months of 2000 show the following :
- a consolidated revenue of 2,611 million euros (including Ernst & Young’s consulting business from 23 May to 30 June 2000) representing an increase of 18.6 % over the 2,202 million euros published by Cap Gemini alone for the first six months of 1999 ; at comparable perimeters, the Group’s pro-forma revenue growth for the first half would have been 5.5 % ;
- an operating result of 221 million euros, that is 8.5 % of revenue (compared to 224 million euros and 10.2 % of revenue last year) ; at comparable perimeters, the pro-forma operating result is 422 million euros, that is 10.3 % of revenue, an identical percentage to that which would have been published for the first-half of 1999 ;
- a net profit exclusive of minority interests of 236 million euros, that is an increase of 76 % compared to that published for the first-half of 1999 (134 million euros) ; this result integrates a negative evolution of ” other revenue and expenses ” (+ 43 million euros in 1999 and – 39 million euros in 2000) and a positive net tax impact of 140 million euros relating to the acquisition of Ernst & Young’s consulting business in the United States (the Group benefits from the deductibility over 15 years of the goodwill amortisation recorded in the United States, representing possible tax savings of 1.6 billion euros, of which the Group decided to only account for a net amount of 140 million euros on 30 June 2000).
- net earnings per share, after taking into account the above, of 2.44 euros, that is an increase of 34.8 % compared to the first-half of 1999 (1.81 euro).
For the fiscal year 2000, as indicated on 9 August 2000, the Group anticipates pro-forma consolidated revenue growth of around 10 % and pro-forma operating margin of between 10 % and 11 %.
