Report
Nicolas David

Atos : Visibility and specific growth leverage for a low valuation

>A better performance expected for B&PS and for the group in Q4 - The soft organic growth at B&PS in Q3 (+0% org. vs a structural profile of c. 4%) stems from a combination of impacts, with: i/ weakness in the banking/finance sector in the US (impact of c. -100bp); ii/ the clean-out of the contract portfolio in Europe (c. -200bp); and iii/ tough comps in healthcare in the US (c. -100bp). These factors are set to fade in Q4 with the group seeing no further deterioratio...
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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