PARIS (Agefi-Dow Jones) – The digital services company Atos on Monday announced annual results below its targets, mainly due to project delays.
Based on preliminary unaudited data, fiscal year 2021 revenue was around € 10.8 billion, down around 2.4% at constant exchange rates, while ‘Atos was aiming for stable revenues excluding currency effects.
Atos explained this gap by several elements, including project delays from the end of 2021 to 2022 due to “disruptions in the supply chain” as well as delays in the progress of a BPO (process outsourcing) contract. with a large UK financial institution.
The operating margin stood at around 4% in 2021, compared to a target of around 6%.
Atos also recorded a negative free cash flow of around 420 million euros, whereas it expected to reach a positive figure.
“Most of the elements constituting these significant differences are non-recurring. In particular, the major difference relating to the free cash flow results essentially from the working capital requirement”, indicated in a press release the CEO of Atos, Rodolphe. Belmer, who joined the group last week.
“I am convinced that the group has the necessary assets and all the talents to recover and transform quickly. In this context, I will present at the end of February to the board of directors a new organization, and in the second quarter a plan which will detail the drivers this recovery, as well as our priorities of profitable growth and value creation, “continued the manager.
Atos had already issued a profit warning in July which led it to revise its targets for the year 2021 downwards.
The group will publish its outlook for 2022 on February 28.
-Julien Marion, Agefi-Dow Jones; +33 (0) 1 41 27 47 94; [email protected] ed: VLV
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January 10, 2022 02:11 ET (07:11 GMT)