Operator

Good morning, ladies and gentlemen, and welcome to this Quarter 1 2026 Revenue Announcement for Sopra Steria. [Operator Instructions] I'll now hand the floor to Rajesh Krishnamurthy, CEO. Over to you.

Rajesh Krishnamurthy
Chief Executive Officer

Good morning, ladies and gentlemen. Welcome to this conference call to comment Sopra Steria's revenue in Q1 2026. I'm here with Etienne du Vignaux, Group CFO, with whom I will lead this session.

I'll start with a few general comments on the quarterly performance. Next, I'll go over the figures for our 4 reporting units. Finally, we'll finish with a Q&A session.

Revenue in Q1 2026 stood at EUR 1,463.2 million, growth of 3.4% when compared with Q1 last year. At constant exchange and scope, growth in revenue was 3.2%. As previously announced, the revenue in Q1 2026 includes the first significant impact of the conclusion, which has been planned for several years and announced in 2023 of the SFT program with the Sparda-Banks. The negative impact, which is not recurrent -- not recurring of the conclusion of this program was 1.2 points over the quarter. Thus, excluding the impact of the SFT program, underlying organic growth for Q1 was 4.4%.

Q1 2026, this confirms the rebound in business activity, which we observed as of Q4 2025. Business momentum improved across most of our geographies. All the group's reporting units, France, the