Atos’ share price has tumbled after the French firm issued a profit warning stating it will miss financial targets.
In a statement to investors, Atos said that revenue in 2021 was down 2.4 percent in constant currency to €10.8bn. Operating margin came in at around four percent against a target of roughly six percent.
Rodolphe Belmer, Atos CEO, said: “I joined the Company last week, at the time when the figures were being collected and consolidated.
"The current state of financial insight leads us to the obligation to issue a profit warning today due to the significant variance in the financial KPIs. However, most of the items underlying this severe gap are non-recurring. In particular, the large gap in Free Cash Flow mostly stems from working capital”
“I am convinced that the company has the necessary assets and all the talents to operate a swift turnaround.
“In this context, I will present at the end of February a new organization to the Board of Directors, and in Q2 a plan that will demonstrate the drivers of this turnaround and the focus on profitable growth and value creation.”
Atos said that “project slippages” in unified communications and collaboration contributed to the revenue miss. It claimed that a number of projects were pushed back into 2022 because of supply chain issues, as well as postponements from public sector customers in the UK and the Netherlands.
