Report
Nicolas David

Atos : Atos preparing for a thorough transformation

>Little visibility on a challenging turnaround - Although the organic growth guidance ultimately came as no surprise in general (-2% to 0% vs ODDO BHF -1.2%), the guidance for current operating margin and FCF came as a disappointment to the market. As far as the operating margin is concerned, it is not all that surprising to see that management is struggling to turn around the company given the lack of revenue growth. The Infrastructure Management activities are still...
Underlying
Atos SE

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Nicolas David

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