Breakingviews - Atos’ latest profit warning keeps new CEO busy
projections for revenue growth and margins in 2021. The 3.5 billion euro company now expects operating profit to be 4% of sales, down from a 6% target. Free cash flow which was previously supposed to be “positive” will now be negative 420 million euros. Atos blamed delays on projects and additional costs on a 15-year contract signed in 2018.
Investors are anticipating further problems. Including net debt, Atos is now valued at less than 14 times EBIT of around 430 million euros, using the company’s new guidance. Rivals SAP
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