2023-10-26 08:57:00
The IT group, in the midst of a crisis due to a contested partial sale project to Czech billionaire Daniel Kretinsky, announced this Thursday, October 26, an 8.1% drop in its turnover in the third quarter. Results weighed down by its outsourcing branch Tech Foundations. At 2.59 billion euros, turnover was down 3% organically, excluding exchange rates and changes in scope, including the sale of Atos Italia in the second quarter.
Atos management remains straight in its boots and continues to split the group
The strategy of splitting Atos into two branches is strongly criticized by shareholders and certain politicians. In fact, the Czech billionaire must recover Tech Foundations. The latter brings together historical outsourcing activities, i.e. the maintenance of IT assets. Its sales fell 10.8% to 1.37 billion, with an organic decline of 7.2%.
Atos tumbles on the stock market after temporary nationalization proposals
The other branch, Eviden, which brings together the cybersecurity activities of “ cloud » and supercomputers, shows a drop of 4.8% to 1.22 billion euros, but an organic increase of 2.3%. Over nine months, turnover was 8.1 billion, down 2.9%, including -5.9% for Tech Foundations.
New twists
The Atos saga has not finished talking. Last week, under fire from criticism, the group’s president Bertrand Meunier resigned, and the proposed sale to Daniel Kretinsky was postponed until « start of the second quarter of 2024 “. The saga of the Atos sale project has since experienced a new twist last Wednesday. And for good reason, the Finance Committee of the National Assembly adopted an amendment to the 2024 draft budget. This aims to temporarily nationalize the activities “ strategic » from Atos. Stated objective, to prevent sensitive technologies for nuclear or the army falling under “ foreign flag ».
The socialist deputy, Philippe Brun at the origin of an amendment, tabled last Friday, invokes the “ risk of a loss of sovereignty over activities such as supercomputers, security system integration systems or even cybersecurity “. Olivier Marleix, leader of the LR deputies who all signed a second amendment aimed at nationalizing the entire French group, confirmed to AFP that he wanted “ call on the government » about the future of a company « strategic » which he estimates at 500 million euros.
« Discussions » among employees and customers
During a telephone press briefing this Thursday, the new general director, Yves Bernaert, appointed on October 4, recognized that the current situation caused “ discussions » among employees and customers. However, management was keen to “reassure about (one’s) commitment and the sustainability of our activities “. During the quarter, Atos recruited 3,630 people and 5,800 employees left the group, reflecting the restructuring plan and disposals of activities.
The announcement of this possible temporary nationalization caused the company’s shares to plunge. The price of Atos, which fell this week to its historic low, coming close to 4 euros during the session, rose again on Wednesday to 5 euros at the close. The group’s market capitalization is now only 579 million euros.
The group nevertheless confirmed its 2023 objectives of an organic turnover of between 0% and 2% and an operating margin of 4 to 5%. Order intake reached 2.2 billion euros over the quarter, up 10% compared to the previous year.
The investments of billionaire Daniel Kretinsky
This saga illustrates, once again, the ambitions of Daniel Kretinsky in France, where this 48-year-old businessman has invested massively in several sectors since 2018. He first established a foothold in the media. Via his group CMI France, a subsidiary of Czech Media Invest (CMI), he notably controls Marianne, Elle, Franc Tireur and Télé 7 Jours.
He also bailed out Release, without becoming a shareholder. In September, however, he sold all his shares in the Le Monde group to another billionaire, Xavier Niel. The Czech is also in the process of buying the Editis publishing group from media giant Vivendi.
In distribution, this summer it concluded an agreement to take control of the Casino group (which also includes Monoprix, Franprix, Naturalia and CDiscount), and is the largest shareholder of Fnac Darty.
(With AFP)
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