8.21 PM Wednesday, 4 October 2023
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:55 06:09 12:10 15:32 18:06 19:20
04 October 2023

French company Atos sees sales at loss-making unit Tech Foundations to hit bottom in 2024

By Reuters

Atos (ATOS.PA), the struggling French IT consulting firm that is planning to split up into two listed entities, said it expected sales at its loss-making unit Tech Foundations to hit the bottom in 2024.

The firm, which will hold an investor day later in the day, said that Tech Foundations - which regroups Atos' IT consulting legacy activities - would generate around 5 billion euros ($5.34 billion) in 2024 and grow from there, two years earlier than what it announced in 2022.

Tech Foundations' operating margin is expected to reach between 6% and 8% in 2026, while free cash flow before interest and tax is expected to turn positive in 2025.

($1 = 0.9359 euros)