Year in review

Read a summary of our 2020 performance, an update on our strategy and transformation plan or download the full annual report.
Capita annual report cover

Chairman's introduction

Sir Ian Powell

A challenging year

As for so many businesses, 2020 was a tough year for Capita and its people. The organisation is part-way through a complex, multi-year transformation which, despite continuing progress, was already proving harder than we had originally envisaged.

The impact of the Covid-19 crisis disrupted some of our plans; and it proved to be a disappointing year for our investors, of which we remain acutely conscious. I would like to thank our shareholders for their patient and continued support.

Our purpose – to ‘create better outcomes’ for all stakeholders – remains fundamental to the transformation of the company. Underpinned by our commitment to that purpose, the professionalism of our 55,000 people has allowed us to navigate our way through the pandemic – and we ended the year with evidence of renewed momentum.

I would like to thank all our colleagues for their hard work and commitment during such difficult times, and also our clients for working with us so collaboratively to help counter the exceptional challenges of the Covid crisis.

Read full introduction from the chairman
Our purpose – to ‘create better outcomes’ for all stakeholders – remains fundamental to the company’s transformation.

Sir Ian Powell, Chairmanat Capita plc

Chief Executive Officer's review

Maintaining progress

We started 2020 expecting to continue to strengthen the business operationally and to deliver more evidence of improvement – to be reflected in modest revenue growth and significant free cash flow generation.

We continued to make progress with many aspects of our transformation, but the impact of Covid-19 set us back and increased some of the challenges we faced.

I am pleased with our operational response to the pandemic, prioritising our colleagues and ensuring we could continue to deliver for our clients. The majority of our revenue has beenresilient and we took decisive cost and cash action to manage the impact where it affected us. I do not believe we would have achieved this without the progress made in strengthening Capita over the preceding two years.

Read full review from our CEO
Jon Lewis
Capita is a much better business than it was at the start of the transformation, with stronger positions and improved growth prospects.

Jon Lewis, Chief Executive Officer at Capita plc

Chief Financial Officer’s review

Gordon Boyd

Focused on the balance sheet

The onset of the Covid-19 crisis interrupted the pace of our ongoing transformation at Capita, as well as planned disposals and refinancing plans.

A small decline in adjusted revenue1 was expected in the first half of 2020 due to contract losses reported in 2019 and the first quarter of 2020 was broadly in line with expectations. However, the economic impact of Covid-19 resulted in lower revenue in a number of businesses through the rest of the year. The weaknesses in transactional revenue and volume-related framework contracts related to businesses such as travel and events, resourcing, face-to-face training, and the payment services software we use to collect the London congestion charge. We continued to see resilient revenue performance in the majority of our operations from long-term contracts with a stable government and blue-chip customer base, and saw contract wins with the DWP and the NHS.

Read full review from our CFO
Our priority for 2021 is to address the short-term debt maturities through extending our committed credit facilities and issuing new long-term debt instruments, while continuing to strengthen the balance sheet.

Gordon Boyd, Chief Financial Officer (interim)

Financial highlights


Adjusted revenue

2019: £3,501.0m


Adjusted free cash flow

2019: £(23.2)m


Reported loss per share

2019: (4.18)p


Adjusted profit before tax

2019: £197.7m


Reported revenue

2019: £3,678.6m


Reported free cash flow

2019: £(213.0)m


Adjusted earnings per share

2019: 9.30p


Reported loss before tax

2019: £(62.6)m

Divisional performance

We are currently reporting our financial performance across six separate operating divisions.




71% public sector | 29% private sector Profit: £43.4m Employees: 3,500

People Solutions



50% public sector | 50% private sector Profit: £52.5m Employees: 4,900

Customer Management



15% public sector | 85% private sector Profit: £105.9m Employees: 31,300

Government Services



100% public sector | 0% private sector Profit: £11.1m Employees: 8,600

Technology Solutions



67% public sector | 33% private sector Profit: £34.9m Employees: 3,500

Specialist Services



49% public sector | 51% private sector (Loss)/profit: (£4.4m) Employees: 2,900

Key performance indicators

Financial KPIs


Adjusted profit before tax

Our aim: Achieve long-term growth in profit. 2019: £197.7m


Adjusted free cash flow

Our aim: Achieve sustainable, long-term free cash flow growth. 2019: £(23.2)m


Adjusted operating margin

Our aim: Maintain adjusted operating margin. 2019: 7.3%


Return on capital employed (ROCE)

2019: 7.8%


Adjusted earnings per share

2019: 9.30p


Headline gearing: headline net debt to adjusted EBITDA

2019: 2.7x

Non-financial KPIs


Suppliers paid within 60 days

Our aim: Treating suppliers and partners fairly and encouraging them to deliver. (2019: 97%)


Employee net promoter score

2019: +14pts


Customer net promoter score

2019: +22pts 


Carbon footprint reduction

Our aim: Acting as a responsible business for the communities we serve. (2019: 5.9%)

Key downloads

The full 2019 Annual Report and key sections are available to download below.

Download report

Download our full 2020 Annual Report.


Strategic review

Download our 2020 strategic review.


Governance report

Download our 2020 governance report.


Financial review

Download our 2020 financial statements.


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Results and presentations

View our full library of financial results, reports and investor presentations.

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Corporate governance

Capita is committed to maintaining high standards of corporate governance.

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Regulatory news

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