2006 Annual Results Paris, 15 February 2007. 2006 Annual Results 1 In 2006, Capgemini has recorded very solid progress Priorities executed Doubling operating

2006 Annual Results

Paris, 15 February 2007

2

2006 Annual Results

In 2006, Capgemini has recorded very solid progress

Priorities executedPriorities executed

Doubling operating margin and net resultDoubling operating margin and net result

Optimized cost structure and deliveryOptimized cost structure and delivery

Double digit growth for our 4 disciplinesDouble digit growth for our 4 disciplines

FY 06 / FY 05

Consulting Services + 10,3 %

Technology Services + 12,8 %

SOGETI + 10,4 %

Outsourcing Services* + 12,6%

TOTAL GROUP + 12,1 %

Cost of services rendered - 0,4 pt

Selling Expenses - 1 pt

General and Administrative Expenses - 1,2 pt

Operating Margin + 2,6 pt

CONFIRM NORTH AMERICAN TURNAROUND

IMPLEMENT MAP INITIATIVE

FOCUS ON ADDING VALUE TO CLIENTS

11

22

33

x2

InM€

2005 2006

Operating Margin Net Result

225

(3,2%)

447

(5,8%)

141

293

Dividend : + 40 %* Revenue CS/TS related to Mega deals (HMRC, Schneider & TXU) reclassified in CS/TS

3

2006 Annual Results

Ready for new heights in North America

SOGETI

Double digit growth (+10,6%) and operating margin (13,3%) Successfully launched testing business Footprint expanded with the acquisition of Software Architects

Outsourcing Services

Successful execution of GM and TXU contracts Early benefits of MAP recorded

Consulting and Technology Services

Successful deployment of our sector/offerings focused strategy : FSI, Retail, TME, Automotive, SAP

Operational efficiency : Overruns decrease by 30%

Offshore development : 30% of TS hours performed in India

Revenues

TOTAL US

FY 06 / FY 05

+ 5,4 %

+ 2,1 %

+ 3,8 %

Operating Margin

FY 06 FY 06 / FY 05

7,7 % + 9,2pt

2,8 % + 5,2 pt

5,4% + 7,3 pt

Project and Consulting


Q406/Q405 Revenues

+10,2 %

Q406/Q405 Bookings +15,2 %

P&C FY06 Book to Bill1,17

4

2006 Annual Results

Mid term margin impact

MAP drives strong results for Outsourcing Services

Renegociation 0,5 ptProcurement 1-1,5 ptIndustrialization 1-1,5 ptRightshore 1,5-2 ptSupport functions 1-1,5 pt

Operating Margin

+ 3,1% (+3 pt)

Revenue Growth

+ 16,1%Strong Financial Records

Good execution of major new contracts

Strong BPO Growth

Cost reduction

Status

Achieved 2006Achieved 2006

On trackVisibility 2007Visibility 2007

Revenues Europe & Asia : + 47 % Revenues US : +2,9 % Workforce : 4500 86 % offshore 4 Hubs, 8 satellites

Toronto

Dallas

KatowiceKrakow

Bangalore

Guangzhou Hong Kong

Adelaide

Kolkata

Mumbai

Toronto

Dallas

KatowiceKrakow

Bangalore

Guangzhou Hong Kong

Adelaide

Kolkata

Mumbai

5

2006 Annual Results

Architecture ServicesTS Bookings 2005

2622 M€

TS Bookings 20062919 M€

TestingSogeti Revenues 2005

1108 M€

Sogeti Revenues 20061222 M€

Recruitment

18 592 new Hires

1 210 new colleagues integrated through OS

Headcount : 67 889 (+11,2%)

Training

24 training hours per FTE delivered (+37%)

4650 people trained leading to certification

(SOA, project management…)

35 000 training days in India

7000 people trained at Capgemini University

Investing in innovation and competencies

Innovation Competencies

+40%

188 M€

+39%114 M€

Share of Architecture Services in TS bookings

Share of Testing in Sogeti revenues

IM Command Centers

580100

2005 2006

IMCC Heacount in Poland & India

6

2006 Annual Results

Sector Innovation Portfolio Management

Financial Services and Insurance

Telecom, Media and Entertainment

Energy and Utilities

Public Services

Manufacturing, Retailand Distribution

Loans and Mortgage

Kanbay domain expertise

Digital Media

Telco in a box

Smart Metering

Tax Systems

Security

Future Value chain

Shared Services

Automotive

Improving cross-discipline andcross-country business.

Bookings 20056776 M€

Bookings 20068198 M€

Strengthening relations with our Top 30 clients

5 country boards

2 New European Business Units

New organization for consulting

Developing our sector approach and aligning organizations to improve portfolio management

HMRC

Homeland

Share of bookings at our 30 top clients CS/TS/OS

1652 M€ 3260 M€

7

2006 Annual Results

A tier-one player regarding offshore capabilities

People

Sales

Recruitment focused on top talent = 1 hired every 8 interviews

53% of people recruited coming from indian tier-I & II companies, 22% from referrals

Delivering large and complex projects : over 1600 people working for the 8 biggest projects

Reduction of the rate card, according to skills

75 % growth in the number of clients vs 2005

346 engagements serviced in 2006

Delivery

Country Headcount 2005 Headcount 2006

India 3550 6980

China 400 470

Poland 750 1570

Indigo Kanbay

719 5552+92% 23%

33%

Offshore/ total headcount

Offshore/ TS+OS headcount

Total offshore headcount 15 291

8

2006 Annual Results

Our 2007 priorities : Going one step beyond

Fight For Leadership Keep Transforming

NORTH AMERICA : Join top 3 in

selected domain areas

BPO : Extend footprint beyond F&A

FINANCIAL SERVICES :

Consolidate tier-one status leveraging

Kanbay

KANBAY : Drive successful integration

I3 : Accelerate the Group positive

momentum

CONSULTING SERVICES : Roll out

a renewed ambition

9

2006 Annual Results

Adding Value through our I3 Transformation plan

Leverage Kanbay operating model

Triple headcount in India to 40 000 by 2010

Implement new global operating model

Win the battle for talent

Develop undisputed areas of domain expertise

Grow on-shore headcount cautiously

Specialized workforce in India

Implement country boards : Cross- discipline management of 5 key accounts per group major country

Leverage the group broad scope of services for our main clients Global management of 5 key accounts

Grow account management capabilities and tools

Develop global leadership in Financial Services and Telco’sInvest in 15 key sectorial areas of domain expertise

Technology innovation : Open source, Web 2.0 and extended BI

Explore new Business Model : BPO SaaS

Increase training investments (domain Knowledge and technology)Develop global mindset notably through international mobility

Develop leadership capabilities onshore and offshore

Invest in branding & communication

10

2006 Annual Results

Adding Value through Kanbay Integration

Creation of Financial Services SBU (initially NA, UK, India)

Dedicated Financial Services platform in India (>6,000 people)

Consolidate Financial Services & Consumer Products positioning

Ensure fast & successful integration

Reinforce North American presence

Strengthening Consumer Products

sector (Consulting, ERP & BI capabilities)

Appetite for offshore from European clients

Major player in India (headcount >13,000)

Presence in 6 major Indian hubs

Strengthen Indian platform

Ability to increase recruitment & attractiveness

Adding over €300M of revenuesStrengthening capabilities in Consulting, ERP, BI, Testing, growth platforms

Increasing offshore leverage

Strong coordination, leverage capabilities in place, recruitment of sales/account management people

Cross leverage and staffing already in place in India, and NA

New organization model in place in Q2

Financials

12

2006 Annual Results

M€ FY 2005 H1 2006 H2 2006 FY 2006FY 2006

vs FY 2005

Revenues 6 954 3 784 3 916 7 700 10.7 %

Operating expenses - 6 729 - 3 603 - 3 650 - 7 253

Operating Margin 225 181 266 447

(% Revenues) 3.2% 4.8 % 6.8 % 5.8 % + 2.6 pts

Other operating Income & expense, net

- 11 - 42 - 71 - 113

Operating profit 214 139 195 334

(% Revenues) 3.1 % 3.7 % 5.0 % 4.3 %

Finance Expense, net - 38 - 20 - 8 - 28

Income tax expense - 35 - 48 35 - 13

Profit for the period 141 71 222 293

Net cash and cash equivalents 904 789 1 632 1 632 728

Number of employees (end of period) 61 036 63 680 67 889 67 889

Income statement: overview

+ 12.1% inOrganic

13

2006 Annual Results

Q1 2005 Q2 2005 H1 2005 Q3 2005 Q4 2005 H2 2005 FY 2005 Q1 2006 Q2 2006 H1 2006 Q3 2006 Q4 2006 H2 2006 FY 2006

M€ (Published) 1 708 1 764 3 472 1 674 1 808 3 482 6 954 1 869 1 915 3 784 1 881 2 035 3 916 7 700

Sequential Current Growth 3.3% - 5.1% 8.0% 0.3% 3.3% 2.5% 8.7% -1.8% 8.2% 3.5% 10.7%

Sequential Organic Growth 0.7% 9.9% 7.5% 3.5% 12.1%

Year-on-Year Current Growth 9.4% 8.6% 9.0% 12.4% 12.6% 12.5% 10.7%

Year-on-Year Organic Growth 10.6% 13.9% 13.7% 12.1%

1708

1764

1674

1808

1869 1915 1881

2035

1400

1600

1800

2000

2200

Q1 05 Q2 05 Q3 05 Q4 05 Q1 06 Q2 06 Q3 06 Q4 06

2006 Revenues evolution

Revenues quarterly evolution in M€

14

2006 Annual Results

Current Organic

Current Sequential Year on year Sequential Year on

year

Q4 2005 Q3 2006 Q4 2006Q4 06 / Q3 06

Q4 06 / Q4 05

Q4 06 / Q3 06

Q4 06 / Q4 05

North America336 338 343 1.3% 1.9% 2.8% 10.2%

Europe & Asiaof which :

1 472 1 543 1 692 9.7% 15.0% 8.5% 14.7%

UK & Ireland 442 553 533 - 3.8% 20.5% - 4.8% 21.2%

France 447 424 487 15.1% 9.1% 15.1% 9.1%

Benelux 259 250 281 12.4% 8.4% 12.4% 8.4%

Germany & Central Europe 114 126 145 14.8% 27.4% 8.2% 22.3%

Nordic 113 92 131 43.2% 16.3% 43.3% 15.5%

Iberia 57 56 67 19.8% 17.4% 19.8% 17.4%

Italy 23 21 24 16.1% 5.7% 16.1% 5.7%

Asia Pacific 17 21 24 15.4% 40.5% - 0.4% 37.0%

TOTAL 1 808 1 881 2 035 8.2% 12.6% 7.5% 13.9%

Sustained growth in Q4

15

2006 Annual Results

CS/TS Revenues related to mega deals (HMRC, Schneider & TXU) recorded in Outsourcing

CS/TS Revenues related to mega deals (HMRC, Schneider & TXU) reclassified in CS/TS

Outsourcing drives Q4 growth

Q4 06 / Q3 06 Q4 06 / Q4 05

Consulting Services 9.8% 4.4%

Technology Services 13.2% 12.7%

CS / TS 12.4% 10.6%

Local Professional Services 12.2% 11.3%

CS / TS / LPS 12.4% 10.8%

Outsourcing Services 0.6% 19.3%

TOTAL GROUP 7.5% 13.9%

Q4 06 / Q3 06 Q4 06 / Q4 05



CS / TS 5.9% 8.9%


CS / TS / LPS 7.4% 9.5%



At constant ratesand perimeter

16

2006 Annual Results



When analysing the nature of work performed, all disciplines grow double digit

FY 06 / FY 05

Consulting Services 8.8%

Technology Services 9.5%

CS / TS 9.4%

Local Professional Services 10.4%

CS / TS / LPS 9.6%

Outsourcing Services 16.1%

TOTAL GROUP 12.1%

FY 06 / FY 05

Consulting Services 10.3%

Technology Services 12.8%

CS / TS 12.3%

Local Professional Services 10.4%

CS / TS / LPS 11.8%

Outsourcing Services 12.6%

TOTAL GROUP 12.1%


17

2006 Annual Results

Current Organic

M€

Current Year on year

Year on year

FY 05 FY 06 FY 06 / FY 05 FY 06 / FY 05

North America 1 353 1 341 - 0.9% 3.8%

Europe & Asiaof which

5 601 6 359 13.6% 14.0%

UK & Ireland 1 738 2 126 22.3% 23.7%

France 1 666 1 816 9.1% 9.1%

Benelux 956 1 046 9.4% 9.4%

Germany & Central Europe 443 514 16.0% 14.2%

Nordic 415 441 6.2% 6.2%

Iberia 218 251 15.4% 15.4%

Italy 92 88 - 4.4% - 4.4%

Asia Pacific 73 77 6.1% 20.6%

TOTAL 6 954 7 700 10.7% 12.1%

2006: Strong growth in a favorable market

18

2006 Annual Results

13,1%

6,5%

27,8%9,6%

29,0%14,0%

14,5%

14,0%

6,9%

24,3%10,6%

29,7%

FY 2005

FY 2006

At constant rates and perimeter

Energy & Utilities

Financial Services

Other

Government

Telecom, Media & Networks

Manufacturing, Retail & Distribution

Energy & Utilities

Financial Services

Other

Government

Telecom, Media & Networks

Manufacturing, Retail & Distribution

2006 Revenues by sector

19

2006 Annual Results

Bookings evolution by discipline


1 119

277

1 226

490

953

320

1 274

1 117

1 230

1 760

1 376

329

1 117

406

1 311

669

0

500

1 000

1 500

2 000

2 500

3 000

3 500

Q1 05 Q2 05 Q3 05 Q4 05 Q1 06 Q2 06 Q3 06 Q4 06

Outsourcing

Project & Consulting

M€

1 396

1 716

1 273

2 391

2 990

1 7051 523

1 980

6 776 8 198

20

2006 Annual Results

Consulting, Technology and Local Professional Services Bookings

800

900

1000

1100

1200

1300

1400

Q1 Q2 Q3 Q4

200420052006

21

2006 Annual Results

CS / TS / LPS

Bookings Revenues BBR

North America 822 704 1.17

Rest of the world 4 212 3 984 1.06

TOTAL 5 034 4 688 1.07

At budget rates

Book to Bill CS / TS / LPS – FY 2006

M€

22

2006 Annual Results

Charge-out rate – Consulting Services – Quarter evolution

980

1080

1180

1280

1380

1480

2005 2006

1272

12181210

12251200

1222

1189

1246


23

2006 Annual Results

Charge-out rate – Technology Services – Quarter evolution

500

600

700

500

600

700

2005 2006

2005 2006

636622 623 626

615621

616 617

661652

662669 663

677 682 687

India included

India excluded


24

2006 Annual Results

Charge-out rate – Local Professional Sces – Quarter evolution

350

450

2005 2006

410415 418 419 422

435439

445


25

2006 Annual Results

50

60

70

80

90

6966

69

666666

67

62

7879 79 79 79

80 80 80

8586 86 86

85 85 86 86

Consulting Services Technology Services Local Professional Services


Q1 Q2 Q2 Q4Q42005 2006

Q3Q3 Q1 Q1 Q2 Q2 Q4Q42005 2006

Q3Q3 Q1Q1 Q2 Q2 Q4Q42005 2006

Q3Q3 Q1

ARVE – Quarter evolution by discipline

26

2006 Annual Results

Consulting Services & Local Professional Services at double digit operating margin in H2

H1 2005 H2 2005 FY 2005 H1 2006 H2 2006 FY 2006

Consulting ServicesTechnology ServicesLocal Professional ServicesCS / TS / LPS

1.8%3.7%8.0%4.3%

7.4%6.5%

10.2%7.6%

4.5%5.1%9.1%6.0%

8.9%6.4%8.4%7.4%

11.5%8.5%

11.2%9.7%

10.1%7.5%9.8%8.6%

Outsourcing Services -1.2% 1.5% 0.1% 2.0% 4.1% 3.1%

Total Operations (1) 2.3% 5.3% 3.8% 5.4% 7.5% 6.4%

TOTAL 1.8% 4.7% 3.2% 4.8% 6.8% 5.8%(1) before headquarters’ expenses

At current rates and perimeter

27

2006 Annual Results

FY 2005 H1 2006 H2 2006 FY 2006

M€ RevenuesOp.

Margin% Revenues

Op. Margin

% RevenuesOp.

Margin% Revenues

Op.Margin

%

North America 1 353 -26 -1.9% 660 28 4.3% 681 44 6.4% 1 341 72 5.4%

UK & Ireland 1 738 67 3.8% 1 040 61 5.9% 1 086 103 9.5% 2 126 164 7.7%

France 1 666 44 2.6% 906 6 0.7% 910 -1 -0.1% 1 816 5 0.3%

Benelux 956 101 10.6% 514 65 12.6% 532 77 14.5% 1 046 142 13.5%

Germany & Central Europe

443 36 8.1% 243 23 9.3% 271 29 11.0% 514 52 10.2%

Nordic 415 24 5.8% 218 14 6.4% 223 18 8.3% 441 32 7.4%

Iberia 218 8 3.7% 128 5 3.8% 123 9 7.6% 251 14 5.6%

Italy 92 1 1.1% 43 -1 -2.4% 45 2 3.9% 881

0.8%

Asia Pacific 73 9 12.1% 32 2 6.1% 45 11 23.8% 77 13 16.4%

Not allocated (1) - -39 n/a -22 -26 -48

TOTAL 6 954 225 3.2% 3 784 181 4.8% 3 916 266 6.8% 7 700 447 5.8%

Strong operating margin improvement in all geographies but France

(1) Items not allocated correspond to headquarters’ expenses


28

2006 Annual Results

Operating Margin

FY 2005 H1 2006 H2 2006 FY 2006

Consulting / Technology Services


Local Professional Services

-4.1%

-2.4%

9.9%

6.7%

0.1%

11.8%

5.5%

5.2%

14.7%

6.1%

2.8%

13.3%

TOTAL -1.9% 4.3% 6.4% 5.4%

North America is now solidly in the black


29

2006 Annual Results

At current rates & perimeter

France : a strong improvement in CS/TS and a solid LPS can not compensate for OS

Operating Margin

FY 2005 H1 2006 H2 2006 FY 2006

Consulting / Technology Services


Local Professional Services

7.9%

-20.7%

5.2%

7.9%

-33.3%

4.5%

10.1%

-44.7%

6.9%

9.0%

-39.4%

5.7%

TOTAL 2.6% 0.7% -0.1% 0.3%

30

2006 Annual Results

M€ FY 2005 H1 2006 H2 2006 FY 2006

Revenues 6 954 3 784 3 916 7 700

Cost of services rendered -5 377 -2 915 -3 005 -5 920% of Revenues 77.3% 77.0% 76.7% 76.9%

Gross Margin 1 577 869 911 1 780% of Revenues 22.7% 23.0% 23.3% 23.1%

Selling expenses -524 -265 -243 -508% of Revenues 7.6% 7.0% 6.2% 6.6%

General & Admin. Expenses -828 -423 -402 -825% of Revenues 11.9% 11.2% 10.3% 10.7%

Operating Margin 225 181 266 447% of Revenues 3.2% 4.8% 6.8% 5.8%

SG&A are down in absolute terms despite a double digit growth in revenues

31

2006 Annual Results

M€ FY 2005 H1 2006 H2 2006 FY 2006

Revenues 6 954 3 784 3 916 7 700

Personnel costs -4 175 -2 223 -2 113 -4 336

% of Revenues 60.0% 58.7% 54.0% 56.3%

Purchases and subcontracting exp. -1 808 -987 -1 081 -2 068

% of Revenues 26.0% 26.1% 27.6% 26.9%

Travel expenses -309 -167 -173 -340

% of Revenues 4.5% 4.4% 4.4% 4.4%

Rent and local taxes -240 -135 -133 -268

% of Revenues 3.5% 3.6% 3.4% 3.5%

Depreciation, Amortization & Provisions -197 -91 -150 -241

% of Revenues 2.8% 2.4% 3.8% 3.1%

Total operating expenses -6 729 -3 603 -3 650 -7 253

% of Revenues 96.8% 95.2% 93.2% 94.2%

Operating Margin 225 181 266 447

% of Revenues 3.2% 4.8% 6.8% 5.8%

Ratios of costs by nature impacted by big deals ramp-up

32

2006 Annual Results

M€ FY 2005 FY 2006

Restructuring costs (164) (94)

People (83) (67)

Transition to Offshore (11)

Buildings (81) (16)

Impairment of goodwill (6) (3)

Expenses related to stock options and share grants (12) (17)

Other operating expense (4)

Total other operating expense (186) (114)

Capital gains on the sale of consolidated companies or businesses 166

Other operating income 9 1

Total other operating income 175 1

Total other operating income and expense (11) (113)

Other operating income & expense:restructuring costs continue to trend down

33

2006 Annual Results

Operating margin almost entirely translated into cash

Cash Net of Debt

1.1.2006

OperatingMargin

2006AccrualBonus (net of

payment)

Amorti-zation andprovisions

PaymentBonus2005

CAPEX

Paymentof

Restruc-turing

Working Capital

evolution & other

operational Cash flow

31.12.2006

DividendsKanbay14.7%

Capital increase

Cash Net of Debt

31.12.2006

264 -263

-161323 -148 498 1 632

-30-66

447 1 336 -136

904

34

2006 Annual Results

M€ FY 2005 FY 2006

Interest on convertible bonds (30) (43)

Other interest expenses (27) (24)

Income from cash and cash equivalents 33 57

Finance costs, net (24) (10)

Other financial income & expense, net (14) (18)

Finance expense, net (38) (28)

Finance expense

35

2006 Annual Results

M€ FY 2005 FY 2006

Current income taxes

Taxes payable on profit (21) (39)

Taxes not based on taxable income (mainly USA, Italy) (13) (10)

Deferred income taxes

France

Utilization of deferred tax assets on tax loss carry-forwards (33) (43)

Reassessment of deferred tax assets on tax loss carry-forwards 36 40

Other regions

Utilization of deferred tax assets on tax loss carry-forwards (5) (15)

Reassessment of deferred tax assets or temporary differences and tax loss carry-forwards 1 54

TOTAL INCOME TAX (35) (13)

Income tax

36

2006 Annual Results

ASSETS Dec. 31,2005 (1)

Dec. 31, 2006 EQUITY & LIABILITIES Dec. 31,

2005 (1)Dec. 31,

2006

Goodwill 1 809 1 849 Total equity 2 750 3 697

Other intangible assets 142 122 Long-term financial debt 1 145 1 160

Property, plant & equipment 399 375 Deferred tax 121 118

Deferred tax 828 888 Provisions for pensions and other post employment benefits 696 591

Other non-current assets 164 295 Non-current provisions 14 74

Other non-current liabilities 138 122

Total non-current assets 3 342 3 529 Total non-current liabilities 2 114 2 065

Accounts & notes receivable 1 798 2 063 Short-term financial debt and bank overdrafts 171 107

Other receivables & current income tax receivables 250 214 Accounts and notes payable 1 881 2 019

Short-term investments 1 805 2 460 Advances received from customers 609 683

Cash 416 442 Current provisions 20 24

Other payable and current income tax liabilities 66 113

Total Assets 7 611 8 708 Total Liabilities 7 611 8 708

Balance Sheet

(1) the balance sheet at Dec. 31, 2005 was restated in connection with the amendment of IAS 19

37

2006 Annual Results

(M€)Other

intangible assets

Tangible assets Total

December 31, 2005 142 399 541

Acquisitions 30 131 161

Disposals (10) (22) (32)

Depreciation for the period (35) (131) (166)

Translation adjustments & others (5) (2) (7)

December 31, 2006 122 375 497

Capex

38

2006 Annual Results

M€

Total equity as of January 01, 2006 2 750

Dividends paid out for 2005 (66)

Valuation of stock options and share grants 17

Increase in share capital upon exercice of options 19

Increase in share capital (Dec. 6th), net proceeds 498

Income and expense recognised directly in equityOut of which actuarial gains & losses

181150

Profit for the period 293

Other 5

Total equity as of Dec. 31, 2006 3 697

Shareholder’s equity

39

2006 Annual Results

Commitments given

•Non canceable leases (mainly offices, computers, vehicles)€ 867M

• Other commitments:

• On suppliers contracts € 91M

• Other commitments € 42M

• Put option related to 5% in Capgemini Japan given to Group NTT Data Corporation

€ 1M

• Covenants on OCEANE bonds and syndicated credit facilities Compliant

• Parent performance and/or financial guarantees provided in various large clients contracts

Commitments received

• Call option related to 5% in Capgemini Japan given to Group NTT Data Corporation

€ 1M

Off balance sheet commitments

Off Balance Sheet Commitments as of December 31, 2006 :

40

2006 Annual Results

Headcount as of Dec. 31, 2005 61 036

Recruits (*) 18 592

Acquisitions / Big Deals 1 495

Disposals - 856

Layoffs - 1 728

Leavers - 10 650

Headcount as of Dec. 31, 2006 67 889

(*) out of which: Sogeti 4 282 India 3 897

Poland production centers 1 086

Headcount evolution

41

2006 Annual Results

Dec. 31, 2005 Dec. 31, 2006

Consulting Services 4 988 5 149

Technology Services 23 206 25 223

Outsourcing Services 17 032 20 694

Local Professional Services 15 147 16 570

Not classified (incl. Group central functions) 663 253

TOTAL 61 036 67 889

Group headcount by discipline

42

2006 Annual Results

2005 2006





TOTAL 15.3% 16.6%

Annualized attrition

43

2006 Annual Results

Kanbay Preliminary P&L (unaudited)

In M$ 2006Revenues 414.0

Operating expenses -359.2

INCOME FROM OPERATIONS 54.8 13.2%

Stock optionsNon recurrent chargesFinancial results & equity in affiliate

-7.6-12.8

0.9

PRETAX INCOME 35.2 8.5%

Income Tax -9.2

NET INCOME 26.0 6.3%

44

2006 Annual Results

ASSETS (M$) LIABILITIES & STOCKHOLDERS’ EQUITY (M$)

Cash & Cash EquivalentsShort term investmentsAccounts receivables – Related partyAccounts receivables – Third partyAllowance for doubtful accountsPrepaid expenses and other current assetsDeferred tax assets currentOther receivables

Total Current Assets

Land and buildingComputer equipmentComputer softwareFurniture and fixturesLeasehold improvementsAccumulated depreciationIntangible assetsAccumulated amortizationGoodwill netOther assetsInvestment in affiliate

48462861-1632

193

43341121

8-3512-2

1594

27

Trade accounts payableDeferred revenueCustomer depositsAmounts due to subcontractorsAccrued bonus and commissionsAccrued vacationAccrued salaries, w/holdings & PR taxesAccrued income taxOther accrued liabilitiesCurrent portion LTD

Total current liabilities

Long-term debt, less current portionDeferred income taxes – non current

Total non-current liabilities

Total liabilities

Common stockAPICAPIC – Deferred compensationCumulative translation adjustmentRetained earnings

Stockholders’ equity

75-2

18672

2310

80

861

87

167

-229

-36

76

308

Total Assets 475 Total Liabilities & stockholders’ equity 475

Balance Sheet – Kanbay (unaudited)(in millions of US$)

2006 Annual Results


Back upFY 2006

47

2006 Annual Results

Q4 2005

Q4 2006

10,6%16,1%

34,7%38,6%


11,5%16,5%

35,1%36,9%

Consulting Services

Technology Services


Local Professional

Services

Consulting Services

Technology Services


Local Professional

Services

Q4 Revenues by discipline

48

2006 Annual Results

H2 Revenues by geography

Current Organic

Current Sequential Year on year Sequential Year on

year

H1 2005 H2 2005 H1 2006 H2 2006 H2 06 / H1 06

H2 06 / H2 05

H2 06 / H1 06

H2 06 / H2 05

North America685 668 660 681 3.1% 1.8% 7.3% 7.8%

Europe & Asiaof which :

2 787 2 814 3 124 3 235 3.6% 15.0% 2.7% 15.1%

UK & Ireland 864 874 1040 1 086 4.4% 24.3% 2.8% 25.2%

France 826 840 906 910 0.6% 8.5% 0.6% 8.5%

Benelux 468 488 514 532 3.4% 9.0% 3.4% 9.0%

Germany & Central Europe 216 227 243 271 11.4% 19.4% 8.5% 16.7%

Nordic 215 200 218 223 2.1% 11.4% 1.9% 10.7%

Iberia 111 107 128 123 -3.2% 15.2% -3.2% 15.2%

Italy 49 43 43 45 5.4% 4.8% 5.4% 4.8%

Asia Pacific 38 35 32 45 38.7% 26.8% 29.6% 32.6%

TOTAL 3 472 3 482 3 784 3 916 3.5% 12.5% 3.5% 13.7%

49

2006 Annual Results

H2 Revenues by geography

17,4%

27,7%

5,7%13,6%

6,9%

23,3%

4,3%

1,1%

H2 2006


Benelux

North America

UK & Ireland

Nordic Countries

18,2%

25,2%

5,8%14,2%

6,7%

24,4%

4,4%

1,0%

H2 2005

North America

UK & Ireland

Nordic Countries

Central Europe

France

South Europe

Asia Pacific

Benelux Central Europe

France

South Europe

Asia Pacific

50

2006 Annual Results

H2 Revenues growth by discipline



H2 06 / H1 06 H2 06 / H2 05

Consulting Services -6.3% 4.8%


CS / TS 1.2% 9.8%


CS / TS / LPS 0.9% 9.9%



H2 06 / H1 06 H2 06 / H2 05

Consulting Services -5.9% 6.5%


CS / TS 1.2% 11.4%


CS / TS / LPS 1.0% 11.1%




51

2006 Annual Results

H2 Revenues by discipline

H2 2005

H2 2006

10,5%15,7%

33,9%39,9%


11,4%16,2%

34,6%37,8%

Consulting Services

Technology Services


Local Professional

Services

Consulting Services

Technology Services


Local Professional

Services

52

2006 Annual Results

17,4%

27,6%

5,7%13,6%

6,7%

23,6%

4,4%

1,0%

FY 2006


Benelux

North America

UK & Ireland

Nordic Countries

18,8%

25,0%

6,0%13,9%

6,6%

24,3%

4,5%

0,9%

FY 2005

North America

UK & Ireland

Nordic Countries

Central Europe

France

South Europe

Asia Pacific

Benelux Central Europe

France

South Europe

Asia Pacific

2006 Revenues by geography

53

2006 Annual Results

FY 2005

FY 2006

11,0%15,9%

34,0%39,1%


11,4%16,1%

34,8%37,7%

Consulting Services

Technology Services


Local Professional

Services

Consulting Services

Technology Services


Local Professional

Services

2006 Revenues by discipline

2006 Annual Results


Documents

2006 Annual Results Paris, 15 February 2007. 2006 Annual Results 1 In 2006, Capgemini has recorded very solid progress Priorities executed Doubling operating