Atos, largest drop in the SBF 120 at mid-session on Thursday March 31, 2022 –

Atos headquarters (photo credit: Atos / )

(AOF) –

Atos

(-3.02% to 25.36 euros)

Tech stocks are under pressure amid falling long-term interest rates.

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ATOS

=/ Key points /=

– International leader in digital transformation created in 1997, specialist in the cloud, cybersecurity and supercomputers;

– Activity of €11.2 billion, divided into 3 divisions – infrastructure & data management for 54% of sales, business & platform solutions for 34% and big data & cybersecurity for 10%;

– Geographical balance of revenues: 23% of sales in North America), 24% in Northern Europe, 24% in Central Europe and 20% in Southern Europe;

– Economic model based on expertise (16 solution groups, 2 product divisions) and the offer of business platforms (cloud, employee and customer experience, cybersecurity and zero carbon) in order to sell business solutions (data economy and digital transformation of businesses);

– Open capital (11.3% for the Siemens pension fund and 2.2% for employees), Bertrand Meunier chairing the 13-member board of directors, Elie Girard being managing director, Rodolphe Belmer to take over at most no later than January 20, 2022;

– Solid balance sheet with net debt reduced to €467 million.

=/ Issues /=

– Strategy revised in April 2021 based on the strategic study of the business portfolio –

– refocusing on cybersecurity, digital, decarbonization and the cloud, which should contribute to 65% of revenues in the medium term, reinforced by targeted acquisitions,

– towards a sale of on-site infrastructure and traditional datacenter activities, i.e. 1/5

th

revenues ;;

– Innovation strategy integrated into the business model and developed in 18 laboratories:

– 8 strategic technologies: advanced applications, high performance computing, artificial intelligence, automation, Edge and Internet of Things, immersive experience, hybrid cloud, cybersecurity,

– partnerships with university research centers (quantum computing, exascale computers, artificial intelligence, HPC, multicultural leadership, etc.) and with other players (AWS, Dell, Google, Microsoft, SAP, Worldline, etc.);

– 2 scientific communities of expert collaborators of the group;

– Environmental strategy at the service of the ecological transition supported by the Digital Transformation Factory, the Hybrid Cloud, the “Business Accelerators” solutions, the “Connected Intelligence” and the “Digital Workplace” and aimed at responding to 3 major challenges:

– carbon neutrality achieved from 2028

– sales of “IT for Green” decarbonization solutions,

– use of eco-efficient “Green IT” digital solutions, such as hydrogen supercomputers or quantum technologies;

– Towards an improvement in the operating margin in Germany;

– Visibility of the activity with an order book equal to 2.1 years of turnover and an order intake ratio equal to turnover at 1

er

semester.

=/ Challenges /=;

– Rejection, during the AGM, of the 2020 consolidated accounts due to questions about the accounts of 2 American entities (11% of turnover);

– Identification of the shareholders of the American Finsur Corp which has held, since May, +5% of the capital;

– Impact of the pandemic: 1% drop in revenues at the end of June and net loss of €129 million, due to the cost of the accelerated migration to the cloud and provisions on the American subsidiaries;

– 2021 objectives, revised downwards: revenue stability, operating margin rate around 6% and positive free cash flow;

– 2020 dividend of €0.90.

The talent war has been further reinforced by the announcement of Facebook, which intends to make 10,000 hires within five years in Europe. The lack of human resources is not limited to France or Europe: it is global. Thus 1.2 million computer engineers are expected to be missing in 2026 in the United States. In France, according to Numeum, federation of the digital sector, there is a shortage of around 10,000 computer engineers out of a total of 600,000 people employed by software publishers and digital service companies (SSII). If the phenomenon is not new, it is intensifying. It is reinforced both by the hiring of certain companies, looking for developers to internalize their essential digital projects, and by the strong ambitions of certain start-ups.

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Atos, largest drop in the SBF 120 at mid-session on Thursday March 31, 2022 –


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