Atos Swung to 2021 Net Loss; Sets 2022 Goals

By Olivia Bugault

Atos SE said late Monday that it swung to a net loss in 2021, and set revenue, margin and cash-flow goals for 2022.

The French IT company booked a net loss of 2.96 billion euros ($3.32 billion) last year, compared with a profit of EUR550 million the year prior, it said.

The loss included "significant goodwill and other assets impairments as well as provisions, reserves for bad debt and contract assets impairment, for a total amount of EUR2.5 billion," it said.

Revenue came in at EUR10.84 billion, in line with preliminary results released last month.

In 2022, "the continued decline in classic IT services, combined with personnel cost inflation and supply-chain tensions, will put further pressure on revenue and profitability, particularly in the first half of the year," Atos said. However, its performance should improve during the second half, it said.

The company expects its revenue to grow by between minus 0.5% to 1.5% at constant currency this year, while its operating margin should come between 3% and 5%, which compares to 3.5% in 2021, it said. The company also targets free cash flow of between minus EUR150 million and positive EUR200 million. Last year it was minus EUR419 million.

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