Atos Says Preliminary 2021 Figures Fell Short of Objectives

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By Giulia Petroni
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Atos SE said on Monday that according to preliminary data, the full year 2021 results were below expectations.

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The French IT company said it booked revenue of about 10.8 billion euros ($12.27 billion) for the past year, a decrease of about 2.4% in constant currency compared to its previously set target of fixed revenue.

Operating margin was approximately 4% of revenue, up from a target of approximately 6%, primarily due to project slippage due to lower revenue and additional costs as well as supply-chain challenges and customer postponements.

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“The current state of Financial Insights places the obligation on us to issue a profit alert today due to significant variations in financial [key performance indicators],” said chief executive Rodolphe Bellmer. “However, most of the items that fall under this dire gap are non-recurring,” he said.

Atos said it forecast negative free cash flow for 2021 of 420 million euros for the full year, mostly due to working capital. The company had earlier targeted a positive free cash flow.

Official figures for the full year, as well as the 2022 objectives, are due to be released on February 28.

Write to Giulia Petroni at [email protected]

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