Atos reported a 15.9% revenue decline in Q1 2024, primarily due to diminished business process outsourcing in the UK. Despite this, order intake increased to €1.7 billion and the book-to-bill ratio improved, indicating potential for securing new orders. CEO Philippe Salle expressed cautious optimism about the recovery of commercial activities. The company, burdened with €4.8 billion in debt from past acquisitions and a failed split-up, remains afloat thanks to a restructuring plan. It secured new contracts with governments and is gearing up to unveil a new strategy soon.
Atos faced a notable revenue decline of 15.9% in Q1 2024 due to reduced business process outsourcing in the UK, despite a rise in order intake.
CEO Philippe Salle highlighted the recovery of commercial activity, which he believes signifies growing customer confidence despite ongoing revenue pressure.
The company accumulated €4.8 billion in debt due to prior acquisitions and a failed split-up, but managed financial stability through a restructuring plan.
Atos's recent contracts with British and Serbian governments and a reverse stock split aim to stabilize the company, as it prepares for a new strategy reveal.
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