ATOS: Unsurprising FY19 results, free cash flow and FY20 guidance | BUY - Top Picks | EUR107(+32%)
ATOS - BUY - Top Picks | EUR107(+32%)Unsurprising FY19 results, free cash flow and FY20 guidance
FY19 results were in line before non-recurring items
Free cash flow was at the low-end of the EUR600-700m guidance
Margin rise was driven by Infrastructure & Data Management
FY20 guidance is unsurprising too
Atos is an international information technology services company operating in 52 countries. Co.'s customers are sectors like Public Sector and Utilities, Telecoms and Media, Financial Services, Process Industries and Discrete Manufacturing and Consumer Products and Retail. Co. operates in seven geographical segments: Germany; France; Benelux and The Nordics; U.K. and Ireland; Atos Worldline; Central & Eastern Europe; North America; Iberia; and Other Countries. Co. delivers IT services through the following five segments: Managed Services, Systems Integration, Consulting, Worldline: ePayment Services, and Cloud & Enterprise Software.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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