(Reuters) – Atos missed its annual revenue forecast on Wednesday, dented by contract terminations and market weakness, but saw improved order intake following a restructuring plan that restored client confidence and averted financial collapse.
The French IT group’s 2024 revenue stood at 9.57 billion euros ($10.17 billion), a 5.4% decline from the previous year, and fell short of the 9.7 billion euros forecast by the company last September.
Atos, which supplies critical IT services to the National Health Service in Britain and has been a key data provider to the Olympics since 1989, was long viewed a European champion in the tech sector.
“During the fourth quarter, our commercial activity recovered thanks to the positive change of perception of our clients, who took note of the improvement of our credit rating,” CEO Philippe Salle said in a statement on Wednesday.
Salle, who took the helm last month, is Atos’ sixth chief executive in two years.
The French group did not issue any financial outlook for this year, but said Salle would present his vision and mid-term strategy in the company’s Capital Markets Day on May 14.
It clinched lucrative deals last year, including a key 165-million-euro extension with Eurotower and an agreement to build Finland’s newest national supercomputer.
($1 = 0.9409 euros)
(Reporting by Gianluca Lo Nostro; Editing by Sherry Jacob-Phillips)
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