P ess Release
Busi ess fu dame tals co ti ui g to move i the ight di ectio - Comme cial mome tum fu the imp ovi g i Q2, with book-to-bill (BtB) at 91%, up 7 pts yea -o -yea
- G owi g yea -o -yea o de e t y a d BtB above 100% i F a ce, UK&I a d Evide i Q2
- Qualified pipeli e co ti ued to i c ease i Q2, buildi g o the g owth see i Q1
- Q2 2026 eve ue of €1,661 millio at cu e t pe imete 1, dow -6.3% o ga ically yea -o -yea a d easi g seque tially
P ofitability fu the imp ovi g as a esult of Ge esis - H1 2026 ope ati g ma gi at cu e t pe imete 1 of €190 millio , up +€57 millio (+43%) yea -o -yea a d ep ese ti g 5.7% of eve ues, up 2.1 poi ts vs H1 2025 a d up 0.6 poi ts vs H2 2025
- 112% of Ge esis savi gs ta get al eady achieved
€-120 millio et cha ge i cash suppo ted by imp oved p ofitability a d cash discipli e, while eflecti g usual fi st-half seaso ality, amplified by cha ge i timi g of a ual i ce tive payme ts, a d co ti ued impleme tatio of est uctu i g pla s (c.€-127 millio cash out)Fi a cial p ofile st e gthe ed th ough successful fi st step of efi a ci g a d divestitu es - Weighted ave age cost of fi a cial debt educed by c.220 bps to 7.4% (€59m a ual savi gs) a d matu ity exte ded by 7-mo ths matu ity, up to c. 5 yea s
- La ge divestme ts (Bull, Ideal GRP a d South Ame ica ope atio s) completed ge e ati g €215 millio of et cash p oceeds
- €146 millio 1.5L debt epayme t of which €109 millio th ough bo d pu chase o the ope ma ket a d €38 millio th ough ma dato y ea ly epayme t
- Liquidity at €1,805 millio at the e d of Ju e 2026, o €948 millio afte the full eimbu seme t of the 1L t a che of the debt that was completed o July 6, 2026, expected to be fu the st e gthe ed with p og essive amp up of ecu i g eceivables facto i g p og am
I c easi g mome tum ac oss the G oup’s th ee st ategic th ee flywheel tech ology pilla s (cybe , age tic AI, digital sove eig ty) with a accele ati g shift f om p oof-of-co cepts to la ge-scale executio- AI a d p op ieta y IP i c easi gly embedded i to flagship co t acts, i cludi g la ge public secto a d missio -c itical e gageme ts (e.g., CNA, Eu oco t ol, UK public secto clie ts a d Eu opea utility)
- St o g mome tum with st ategic pa t e s (e.g. Mic osoft, IBM RedHat, C owdst ike, Dell) a d sta t-ups (e.g. Pay-I, Poolside, KYP), fu the suppo ti g go-to-ma ket executio
- Ambitious p oduct i ovatio , i cludi g lau ch of ext-ge e atio AI platfo ms desig ed to suppo t multiple AI ecosystems a d sove eig deployme t models
FY 2026 ta gets 1co fi med with o ga ic g owth at the lowe e d of the a ge - O ga ic eve ue g owth of a ou d -5%2
- Ope ati g ma gi at c. €7%
- Positive et cha ge i cash
As gove me ts a d e te p ises ethi k thei digital i f ast uctu e, they i c easi gly eed t usted pa t e s capable of combi i g i ovatio , scale, secu ity a d sove eig ty. This is p ecisely whe e Atos G oup sta ds today. The oppo tu ities i f o t of us a e substa tial a d we a e e te i g this ext chapte with co fide ce, ambitio a d a clea se se of pu pose.
The tu a ou d of Atos G oup is well u de way. The yea s ahead will be about u locki g the full pote tial of the G oup a d establishi g Atos as o e of Eu ope’s leadi g tech ology champio s i the AI e a.”
I the fi st half of 2026, Atos G oup epo ted eve ue a d ope ati g ma gi of espectively €3,410 millio a d €169 millio , compa ed to €4,020 millio a d €113 millio i the fi st half of 2025, eflecti g scope cha ges (Bull, Ideal GRP a d South Ame ica activities divestme ts) a d the u de lyi g pe fo ma ce of the cu e t pe imete as detailed below.
Fo efe e ce, the eve ue a d ope ati g ma gi b idge betwee the published esults a d the esults of the cu e t pe imete fo half-yea 2026 is available i the appe dix.
I fo matio p ese ted below excludes Bull, Ideal GRP a d South Ame ica ope atio s f om all pe iods, co siste tly with the full yea ta gets.
O a half-yea basis,
The
| I € millio | Ge ma y, Aust ia & Ce t al Eu ope | 761 | 0 | No th Ame ica | 645 | 65 | F a ce | 591 | 14 | UK & I ela d | 565 | 44 | I te atio al Ma ket | 490 | 37 | BNN (Belux, Nethe la ds, No dics) | 399 | 22 | GDC | 4 | 2 |
*: at co sta t scope a d Ju e 2026 ave age excha ge ates
Ope ati g ma gi at cu e t pe imete imp oved by +4.3 poi ts yea -o -yea despite the dec ease i eve ue, d ive by be efits f om Ge esis-d ive cost-cutti g a d p oductivity i itiatives.
Ope ati g ma gi at cu e t pe imete dec eased by -1.2 poi ts compa ed to H1 2025, impacted by the mate ial impact f om eve ue fall th ough, pa tially offset with the Ge esis-led ma gi optimizatio actio s al eady i place.
Ope ati g ma gi at cu e t pe imete emai ed stable yea -o -yea despite decli i g eve ues, with the impact of educed activity offset by the be efit of cost-cutti g i itiatives.
Ope ati g ma gi at cu e t pe imete imp oved by +2.7 poi ts yea -o -yea to 10.4% tha ks to the successful delive y of ew busi ess a d volumet ic i c eases at existi g clie ts.
Ope ati g ma gi at cu e t pe imete dec eased by -1.3 poi ts compa ed to H1 2025, due to the mate ial impact f om eve ue fall-th ough, pa tially offset by the Ge esis-led ma gi optimizatio actio s al eady i place.
Ope ati g ma gi at cu e t pe imete dec eased by -1.5 poi ts compa ed to H1 2025, impacted by the mate ial impact f om eve ue fall th ough a d i c ease i R&D spe di g, offset by the amp dow of lowe p ofitability co t acts, p oductivity imp oveme t a d positive impact f om cost eductio i itiatives.
Ope ati g ma gi at cu e t pe imete dec eased by –5.1 poi ts, eachi g €-1 millio , d ive by cha ge i global costs allocatio methodology, adve se busi ess mix evolutio a d co ti ued i vestme ts i R&D.
Si ce 2025, the G oup has ca ied out a comp ehe sive eset of its comme cial o ga izatio to imp ove efficie cy, i c ease accou tability a d st e gthe go-to-ma ket pe fo ma ce. I itial be efits we e al eady visible, pa ticula ly i p oductivity a d pipeli e quality.
- Seve al co t acts wi s i the public defe se secto , e.g., fo a Asia Mi ist y of Defe se (i Visio AI), a d the Dutch Mi ist y of Defe se (mai ly i cybe secu ity a d fo Atos Amplify, Atos adviso y a d co sulti g activities)
- Co t act wi with majo UK e e gy a d utilities p ovide fo Digital Wo kplace a d Cloud & Mode i f ast uctu e se vices, fo €50 millio , sig ed fo five yea s
- A ew fou -yea f amewo k ag eeme t with a Eu opea public secto age cy, mai ly fo Cybe secu ity a d Digital Applicatio s, fo up to €187 millio
- A ew f amewo k ag eeme t with the Eu opea Pate t Office co t act, mai ly fo Cloud & Mode I f ast uctu es a d Cybe secu ity se vices, sig ed fo five yea s fo up to €32 millio
- A ew f amewo k ag eeme t, sig ed fo up to €40 millio a d five-yea , with the Dutch Natio al Police fo Digital Applicatio s
- Co t act wi with RATP, fo the deployme t of missio -c itical systems, wi-fi 6 g ou d-to-boa d, fo up to €10 millio , sig ed fo mo e tha five yea s
The g oup
- Atos SBU seco d qua te 2026 book-to-bill was 90% (fi st half 2026 at 89%), up c. +7 pe ce tage poi ts compa ed to the same pe iod last yea
- Evide SBU seco d qua te 2026 book-to-bill 117% (fi st half 2026 at 89%), b oadly stable f om the same pe iod last yea
The
The
Si ce the lau ch i 2025, Ge esis executio p og essed faste tha i itially pla ed, with the th ee-yea Ge esis ta get savi gs ow completed. The G oup ow exte ds Ge esis to ge e ate fu the efficie cies, while co ti ui g to delive ta gible p og ess ac oss its co e pilla s, i cludi g the followi g:
G owth a d offe i g po tfolio ma ageme t, as key p io ities of Ge esis’ pilla s goi g fo wa d: - Sustai ed accele atio of i itiatives to suppo t the th ee st ategic tech ology g owth pilla s p ese ted at FY 2025 (age tic AI, sove eig a d cybe )
- Po tfolio e ableme t amp-up, leve agi g the ew comme cial ta get ope ati g model (TOM) to e ha ce go-to-ma ket effective ess, with the U ited States p io itized as the fi st deployme t ma ket
- B a d pe ceptio : co po ate adve tisi g campaig lau ched i F a ce
- St e gthe ed gove a ce with key pa t e s to fu the develop diffe e tiated offe i gs a d go-to-ma ket app oach
Legal e tities a d cou t ies eview: - Divestitu e of South Ame ica activities completed o Ap il 30, 2026
- Fu the 20 eductio s i legal e tities ove the semeste (i cl. 8 al eady completed i Q1 2026)
Ope atio al a d cost efficie cies: - Fu the p og ess i est uctu i g pla executio
- Billability ate above 80% at the e d of the semeste
The total headcou t was 54,476 at the e d of Ju e 2026, a dec ease of -13.8% compa ed with the e d of Decembe 2025, esse tially as a esult of the executio of the Ge esis headcou t eductio p og am a d the disposals of Adva ced Computi g, Ideal GRP a d the G oup’s South Ame ica ope atio s.
Du i g the semeste , the G oup hi ed 2,738 staff (of which 88.8% we e di ect employees), while att itio ate was at 11.8% vs 16.0% i the fi st half of 2025.
Net cha ge i cash fo the semeste stood at €-120 millio eu os at the cu e t pe imete , eflecti g the followi g items:
- Ope ati g ma gi befo e dep eciatio a d amo tizatio (OMDA) of €315 millio
- Capex of €-33 millio , o 1.0% of eve ues
- Leases paid fo €-118 millio
- Cha ge i wo ki g capital equi eme t of €-14 millio , excludi g u solicited payme ts eceived i adva ce of the i voice payme t due date du i g the semeste , with wo ki g capital p oductivity offset by the payme t i the semeste of the va iable i ce tives elati g to FY 2025.
- Cash est uctu i g of €-127 millio , mostly i elatio to the Ge esis t a sfo matio pla
- Tax paid of €-21 millio
- Net cash cost of debt of €–82 millio , i cludi g €13 millio of fi a cial i come
- Othe items fo €–39 millio , which i cluded litigatio a d o e ous co t acts
Beyo d et cha ge i cash, liquidity at the e d of the semeste was impacted by:
- Net p oceeds f om M&A ope atio s fo €215 millio , i cludi g the cash impact of divested pe imete fo €-36 millio
- Cha ge i u solicited payme ts eceived i adva ce of the i voice payme t due date du i g the semeste fo €-153 millio
- Facto i g of t ade eceivables fo €8 millio
- The additio al cash collate al deposited i esc ow accou ts of €-173 millio , secu i g the supe sedeas bo d elated to the T iZetto litigatio
- Debt epayme t (i cludi g bo ds pu chase o the ope ma ket fo €-109 millio , €38 millio ma dato y ea ly epayme t of the 1.5L debt)
- Cash moveme ts i co ectio with the fi st steps of the 1L debt efi a ci g, with ew debt aised fo €1,250 millio , €-325 millio epayme t of te m loa , €62 millio epayme t of bo d followi g the put offe o the i st ume t a d €-16 millio t a sactio fees
The t ade eceivables facto i g p og am was ece tly closed with a fi a ci g pa t e fo its fi st cou t y. The p og am is expected to co ti ue to amp up i the seco d half of the yea a d to be exte ded to th ee othe cou t ies fo a sizeable amou t. It p ovides a secu ed a d ecu i g sou ce of fu di g at a att active all-i cost of ci ca 6% fo the eu o t a che. It is committed fo a du atio of th ee yea s o a o – ecou se basis.
As of Ju e 30, 2026, Atos G oup liquidity stood at €1,805 millio , o €948 millio afte the €857 millio eimbu seme t of the outsta di g fo me 1L debt that took place o July 6 (i cludi g call p emium). This compa es to €1,705 millio as of Decembe 31, 2025 a d emai s well above the mi imum €650 millio level equi ed by the Decembe 2024 c edit docume tatio . It was comp ised of:
| I € millio | Ju e 30, 2026 | Decembe 31, 2025(actuals) | Va iatio | Cash a d cash equivale t | 1,735 | 1,265 | +470 | Of which payme ts eceived i adva ce of i voice payme t due date | 123 | 276 | -153 | Of which facto i g of t ade eceivables | 8 | – | +8 | U d aw evolvi g c edit facility | 703 | 440 | -370 |
At Ju e 30, 2026, et debt was €1,998 millio (€1,193 millio i cludi g IFRS 9 debt fai value adjustme t), compa ed to €1,843 millio as of Decembe 31, 2025 (€945 millio i cludi g IFRS 9 debt fai value adjustme t), a d mai ly co sisted of:
- Bo owi gs fo €3,988 millio fo €3,131 millio afte the €857 millio eimbu seme t of the outsta di g fo me 1L debt that took place o July 6 (i cludi g call p emium). I cludi g IFRS 9 fai value adjustme t a d PIK, g oss debt stood at €3,188 millio at the e d of Ju e 2026. The G oup is co side i g the possibility of epu chasi g debt o the ma ket. It will evaluate a y such t a sactio i the futu e i light of existi g ma ket co ditio s
- Cash a d cash equivale ts fo €1,735 millio
- T izetto cash collate al fi a cial asset fo €255 millio
As of Ju e 30, 2026, the G oup’s fi a cial leve age atio (as defi ed i the glossa y) was 3.4x.
As a emi de , the 2024 c edit docume tatio equi es the G oup to mai tai :
- A mi imum liquidity level of €650 millio , to be ve ified at the e d of each fi a cial qua te sta ti g Ma ch 31, 2025
- A maximum level of fi a cial leve age (“Total Net Leve age Ratio Cove a t”), applicable f om 30 Ju e 2027, as f om each half-yea e d, which is defi ed as the atio of fi a cial i debted ess (mai ly excludi g IFRS 16 impacts a d IFRS 9 debt fai value t eatme t) to p e-IFRS 16 OMDA. I applicatio of the Decembe 2024 c edit docume tatio the ceili g was dete mi ed a d made public o May 29, 2026 a d sta ds at 3.5x
Remi de : the G oup’s baseli e fo establishi g futu e ambitio excludes, fo all yea s, the estimated impact of Adva ced Computi g activities, South Ame ica ope atio s a d Ideal GRP, which we e divested i H1 2026. I FY 2025 it ep ese ted estimated eve ues a d ope ati g ma gi of €7,187 millio (o €7,102 millio at Ju e 2026 yea -to-date excha ge ates) a d €314 millio espectively.
The G oup co fi ms its fiscal yea 2026 ta gets with o ga ic g owth expected at the low e d of the a ge:
- O ga ic eve ue g owth of a ou d -5%5
- Ope ati g ma gi at c.7%
- Net cha ge i cash: positive befo e debt epayme t, M&A a d at co sta t cu e cy
The G oup fo esees a accele atio of p ofitable g owth a d cash ge e atio i 2027 a d i 2028 a d expects:
- To ge e ate o ga ic eve ue CAGR of 5 to 7% betwee 2026 a d 2028. St ategic, ta geted a d discipli ed M&A could fu the i c ease eve ue ove the pe iod
- To each a ope ati g ma gi of a ou d 10% i FY 2028, suppo ted by cost eductio measu es a d p ofitable g owth, pa tially offset by a accele atio of R&D i vestme ts
- To achieve a leve age atio below 1.5x et debt/OMDAL6 i fiscal yea 2028. O the path to a i vestme t g ade ati g, the G oup expects to achieve a BB p ofile i 2027.
Atos G oup boa d of di ecto s, i its meeti g held o July 29, 2026, has eviewed the G oup i te im co de sed co solidated fi a cial stateme ts closed at Ju e 30, 2026. The statuto y audito s have completed thei usual limited eview of the half-yea co de sed co solidated fi a cial stateme ts a d issued thei u qualified epo t.
Atos G oup’s ma ageme t i vites you to atte d the fi st half 2026 esults co fe e ce call o
You ca joi the
If you wa t to joi the co fe e ce by
Upo egist atio , you will eceive the dial-i i fo a d a u ique PIN to joi the call as well as a email co fi matio with the details.
Afte the co fe e ce, a eplay of the webcast will be available o Atos G oup, i the i vesto s sectio .
| Octobe 21, 2026 (befo e ma ket ope i g) Feb ua y 26, 2027 (befo e ma ket ope i g) Ap il 21, 2027 (befo e ma ket ope i g) May 05, 2027 July 29, 2027 (befo e ma ket ope i g) Octobe 21, 2027 (befo e ma ket ope i g) | Thi d qua te 2026 pe fo ma ce Full yea 2026 esults Fi st qua te 2027 pe fo ma ce Ge e al assembly Half-yea 2027 esults Thi d qua te 2027 pe fo ma ce |
Fo the a alysis of the G oup’s pe fo ma ce, eve ue a d ope ati g ma gi (OM) fo H1 2026 a e compa ed with H1 2025 eve ue a d OM at co sta t scope a d fo eig excha ge ates. Reco ciliatio betwee the H1 2025 epo ted eve ue a d OM, a d the H1 2025 eve ue a d OM at co sta t scope a d fo eig excha ge ates is p ese ted below, by St ategic Busi ess U it (SBU) a d by geog aphy fo the Atos SBU.
| Ge ma y, Aust ia & Ce t al Eu ope | 767 | 0 | 767 | -3 | -4 | 1 | 761 | No th Ame ica | 695 | -6 | 689 | 3 | -1 | -45 | 645 | F a ce | 591 | 0 | 591 | 0 | 0 | 0 | 591 | UK & I ela d | 583 | 0 | 583 | 0 | 0 | -17 | 565 | I te atio al Ma kets | 561 | 0 | 561 | 0 | -59 | -12 | 490 | BNN (Be elux, Nethe la ds, No dics) | 402 | 0 | 402 | 0 | -3 | 0 | 399 | GDC | 5 | 0 | 5 | 0 | 0 | -1 | 4 |
*: at Ju e 2026 ave age excha ge ates pe imete
| Ge ma y, Aust ia & Ce t al Eu ope | 1 | -1 | -1 | 0 | 0 | 0 | 0 | No th Ame ica | 70 | 0 | 69 | -2 | 2 | -5 | 65 | F a ce | 12 | 2 | 14 | 0 | 0 | 0 | 14 | UK & I ela d | 50 | -5 | 45 | 0 | 0 | -1 | 44 | I te atio al Ma kets | 46 | -5 | 41 | 0 | -2 | -2 | 37 | BNN(Be elux, Nethe la ds, No dics) | 23 | 0 | 23 | 0 | -1 | 0 | 22 | GDC | 2 | 0 | 2 | 0 | 0 | 0 | 2 |
*: at Ju e 2026 ave age excha ge ates pe imete
Restateme t eflects a cha ge i eve ue ecog itio methodology.
Scope effects amou ted to €-308 millio , elated to the disposal of Adva ced Computi g activities, Ideal GRP, activities i South Ame ica a d two o -mate ial e tities.
Cu e cy effects egatively impacted eve ue by €-80 millio a d ope ati g ma gi by -€8 millio . They mostly came f om the dep eciatio of the US dolla , the B itish pou d a d the I dia Rupee.
Fo the a alysis of the G oup’s pe fo ma ce, eve ue fo Q1 2026 is compa ed with Q1 2025 eve ue at co sta t scope a d fo eig excha ge ates.
Reco ciliatio betwee epo ted fi st qua te 2025 eve ue a d fi st qua te 2025 eve ue at co sta t scope a d fo eig excha ge ates is p ese ted below, by geog aphy:
| Ge ma y, Aust ia & Ce t al Eu ope | 385 | 0 | 385 | -1 | -3 | 1 | 382 | No th Ame ica | 370 | -1 | 369 | 1 | -1 | -38 | 332 | F a ce | 304 | 0 | 304 | 0 | 0 | 0 | 304 | UK & I ela d | 302 | 0 | 302 | 0 | 0 | -11 | 291 | I te atio al Ma kets | 290 | 0 | 290 | 0 | -28 | -13 | 249 | BNN(Be elux, Nethe la ds, No dics) | 206 | 0 | 206 | 0 | -3 | 0 | 203 | GDC | 2 | 0 | 2 | 0 | 0 | 0 | 2 |
*: at Ma ch 2026 ave age excha ge ates a d cu e t pe imete
Fo the a alysis of the G oup’s pe fo ma ce, Q2 2026 eve ue is compa ed with Q2 2025 eve ue at co sta t scope a d fo eig excha ge ates.
Reco ciliatio betwee epo ted seco d qua te 2025 eve ue a d seco d qua te 2025 eve ue at co sta t scope a d fo eig excha ge ates is p ese ted below by geog aphy:
| Ge ma y, Aust ia & Ce t al Eu ope | 0 | 382 | -1 | -2 | 0 | 379 | No th Ame ica | 324 | -4 | 320 | 2 | -1 | -8 | 313 | F a ce | 287 | 0 | 287 | 0 | 0 | 0 | 287 | UK & I ela d | 280 | 0 | 280 | 0 | 0 | -6 | 274 | I te atio al Ma kets | 271 | 0 | 271 | 0 | -30 | 1 | 241 | BNN (Be elux, Nethe la ds, No dics) | 196 | 0 | 196 | 0 | 0 | 0 | 196 | GDC | 2 | 0 | 2 | 0 | 0 | 0 | 2 |
*: at Ju e 2026 ave age excha ge ates pe imete
| I € millio | Ge ma y, Aust ia & Ce t al Eu ope | 679 | 0 | 679 | 29 | 0 | 29 | No th Ame ica | 493 | 0 | 493 | 44 | 0 | 44 | F a ce | 546 | 0 | 546 | 13 | 0 | 13 | UK & I ela d | 606 | 0 | 606 | 63 | 0 | 63 | I te atio al Ma ket | 486 | -40 | 445 | 34 | -6 | 28 | BNN (Belux, Nethe la ds, No dics) | 370 | -1 | 369 | 15 | 0 | 15 | GDC | 3 | 0 | 3 | 16 | 0 | 16 |
*: at Ju e 2026 ave age excha ge ates pe imete
| I € millio | Ge ma y, Aust ia & Ce t al Eu ope | 379 | 346 | -8.7% | No th Ame ica | 313 | 250 | -20.1% | F a ce | 287 | 271 | -5.4% | UK & I ela d | 274 | 299 | 9.2% | I te atio al Ma kets | 241 | 226 | -6.4% | BNN (Belux, Nethe la ds, No dics) | 196 | 186 | -5.2% | Global Delive y Ce te s | 2 | 2 | -21.5% |
*: at Ju e 2026 ave age excha ge ates pe imete
| (i € millio ) | Pe so el expe se | -1,706 | -2,115 | No -pe so el ope ati g expe se | -1,535 | -1,792 | Othe ope ati g i come a d expe se | -314 | -566 | Net cost of fi a cial debt | -294 | -162 | Othe fi a cial expe se | -31 | -62 | Othe fi a cial i come | 4 | 22 | Tax cha ge | -37 | -41 | Sha e of et p ofit (loss) of equity-accou ted i vestme ts | – | Of which: | ▪ att ibutable to ow e s of the pa e t | -504 | -696 | ▪ o -co t olli g i te ests | 1 | 1 |
| i € millio | Dep eciatio of fixed assets | 73 | 134 | Dep eciatio of ight-of-use | 73 | 99 | Net additio ( elease) to ope ati g p ovisio s | -29 | -1 | Net additio ( elease) to fi a cial p ovisio s | 12 | 6 | Net additio ( elease) to othe ope ati g p ovisio s | 145 | 199 | Amo tizatio of i ta gible assets (PPA f om acquisitio s) | 17 | 12 | Impai me t of goodwill a d othe o -cu e t assets | – | 24 | Losses (gai s) o disposals of o -cu e t assets | 106 | – | Net cha ge fo equity-based compe satio | 14 | – | U ealized losses (gai s) o cha ges i fai value a d othe | -0 | – | Net cost of fi a cial debt | 294 | 162 | I te ests o lease liability | 13 | 15 | Othe o cash efi a ci g items | -166 | – | Tax paid | -25 | -13 | Cha ge i wo ki g capital equi eme t | -95 | 43 | Payme t fo ta gible a d i ta gible assets | -66 | -93 | P oceeds f om disposals of ta gible a d i ta gible assets | 3 | – | Outflows elated to fi a cial assets | – | – | I flows elated to fi a cial assets | 550 | 1 | Cash a d cash equivale ts of compa ies sold du i g the pe iod | -299 | – | Commo stock issued | -0 | 1 | Pu chase a d sale of t easu y stock | – | – | Divide ds paid | – | Divide ds paid to o -co t olli g i te ests | 0 | – | Amou ts paid fo acquisitio of o -co t olli g i te ests | – | – | Lease payme ts | -121 | -122 | New bo owi gs | 1,232 | – | Repayme t of bo owi gs | -538 | – | I te ests paid | -84 | -80 | Othe flows elated to fi a ci g activities | -173 | -6 | I c ease (dec ease) i et cash a d cash equivale ts | 470 | -271 | Impact of excha ge ate fluctuatio s o cash a d cash equivale ts | 0 | -104 |
| (i € millio ) | Goodwill | 472 | 465 | I ta gible assets | 220 | 247 | Ta gible assets | 215 | 240 | Right-of-use assets | 278 | 308 | Equity-accou ted i vestme ts | 10 | 11 | No -cu e t fi a cial assets | 324 | 91 | Defe ed tax assets | 124 | 124 | T ade accou ts a d otes eceivable | 1,906 | 1,769 | Cu e t taxes | 61 | 60 | Othe cu e t assets | 938 | 1,023 | Cu e t fi a cial i st ume ts | 2 | 0 | Cash a d cash equivale ts | 1,735 | 1,245 | Assets held fo sale | 739 |
| (i € millio ) | Commo stock | 20 | 19 | Additio al paid-i capital | 1,887 | 1,887 | Co solidated etai ed ea i gs | -2,681 | -1,290 | Net i come (loss) att ibutable to the ow e s of the pa e t | -503 | -1,404 | No -co t olli g i te ests | -1 | -3 | P ovisio s fo pe sio s a d simila be efits | 531 | 597 | No -cu e t p ovisio s | 490 | 358 | Bo owi gs | 2,302 | 2,262 | Defe ed tax liabilities | 33 | 33 | No -cu e t lease liabilities | 281 | 315 | Othe o -cu e t liabilities | 4 | 4 | T ade accou ts a d otes payable | 984 | 875 | Cu e t taxes | 116 | 101 | Cu e t p ovisio s | 394 | 373 | Cu e t fi a cial i st ume ts | 1 | 0 | Cu e t po tio of bo owi gs | 881 | 23 | Cu e t lease liabilities | 150 | 162 | Othe cu e t liabilities | 1,406 | 1,550 | Liabilities held fo sale | 458 |
2019-2021 eve ue CAGR = ( eve ue 2021 / eve ue 2018) (1/3) -1
Les aut es p oduits et cha ges opé atio els i clue t :
- les amo tisseme ts et dép éciatio s des actifs i co po els eco us da s le cad e de eg oupeme ts d’e t ep ises tels que les elatio s clie ts, les tech ologies et les Goodwill ;
- lo s de la comptabilisatio de eg oupeme t d’e t ep ises, le G oupe peut êt e ame é à e egist e des p ovisio s da s le bila d’ouve tu e de l’acquise pe da t la pé iode de douze mois suiva t la date d’acquisitio . Au-delà de cette pé iode d’évaluatio , les p ovisio s deve ues sa s objet du fait d’u cha geme t de ci co sta ces so t ep ises au compte de ésultat e aut es p oduits et cha ges opé atio elles ;
- les coûts d’acquisitio et d’i tég atio des e tités ouvelleme t co t ôlées et co solidées, y comp is les compléme ts de p ix ;
- les plus-values et moi s-values gé é ées pa la cessio d’e tités ou activités co solidées ;
- la juste valeu des paieme ts fo dés su des actio s, y comp is les cha ges sociales liées ;
- les coûts de éo ga isatio et de atio alisatio des e tités acquises da s le cad e de eg oupeme ts d’e t ep ises ou qualifiés d’i habituels, a o maux ou peu f éque ts. Qua d les effets d’u e éo ga isatio so t p ése tés e aut es p oduits et cha ges opé atio els, les coûts associés elatifs aux locaux et bâtime t so t p ése tés su la même lig e ;
- les éductio s d’e gageme ts posté ieu s à l’emploi di ecteme t liés aux opé atio s de éo ga isatio et de atio alisatio ai si que les effets des modificatio s de égimes do t les faits gé é ateu s so t i dépe da ts de toute décisio du G oupe ;
- les plus et moi s-values o écu e tes gé é ées pa les cessio s d’actifs immobilisés e faisa t pas pa tie du cœu de métie du G oupe tels que les bie s immobilie s ;
- les aut es p oduits ou cha ges co sidé és comme i habituels, a o maux, et peu f éque ts tels que les impacts liés à l’exti ctio de litiges sig ificatifs.
- dep eciatio a d amo tizatio of ta gible assets, i ta gible assets a d ight-of-use assets;
- the et book value of assets sold o w itte off;
- the et cha ge of ope ati g a d pe sio p ovisio s.
- et ope atio al capital expe ditu es;
- lease payme ts;
- the cha ge i wo ki g capital equi eme t.
- cash taxes paid;
- et cost of fi a cial debt;
- et cash est uctu i g, eo ga izatio a d atio alizatio costs;
- et i teg atio costs;
- a y othe i f eque t, u usual o ab o mal et cash outflows i cluded withi Othe Ope ati g I come a d Expe se.
- et fi a cial debt epayme ts;
- et cash i flows (outflows) f om acquisitio s o disposals of busi esses o e tities;
- capital i c eases, sha e buybacks, divide ds paid to sha eholde s a d o -co t olli g i te ests;
- cash moveme ts elati g to othe fi a cial assets a d liabilities, such as deposits o esc ow accou ts used as cash collate al;
- fo eig excha ge impacts o cash.
- sho t-te m a d lo g-te m fi a cial debt (i cludi g bo ds a d ba k bo owi gs);
- othe fi a cial assets a d liabilities (such as such as deposits o esc ow accou ts used as cash collate al);
- less co solidated cash a d cash equivale ts.
Net Debt may be epo ted befo e o afte fai value adjustme t. Liabilities associated with lease co t acts a d de ivatives a e excluded.
Co solidated cash a d cash equivale ts i clude t apped cash a d u pooled cash a d exclude deposits held i esc ow accou ts used as cash collate al.
This docume t co tai s fo wa d-looki g stateme ts that i volve isks a d u ce tai ties, i cludi g efe e ces, co ce i g the G oup’s expected g owth a d p ofitability i the futu e which may sig ifica tly impact the expected pe fo ma ce i dicated i the fo wa d-looki g stateme ts. These isks a d u ce tai ties a e li ked to facto s out of the co t ol of the Compa y a d ot p ecisely estimated, such as ma ket co ditio s o competito s’ behavio s. A y fo wa d-looki g stateme ts made i this docume t a e stateme ts about Atos G oup’s beliefs a d expectatio s a d should be evaluated as such. Fo wa d-looki g stateme ts i clude stateme ts that may elate to Atos G oup’s pla s, objectives, st ategies, goals, futu e eve ts, futu e eve ues o sy e gies, o pe fo ma ce, a d othe i fo matio that is ot histo ical i fo matio . Actual eve ts o esults may diffe f om those desc ibed i this docume t due to a umbe of isks a d u ce tai ties that a e desc ibed withi the 2025 U ive sal Regist atio Docume t filed with the Auto ité des Ma chés Fi a cie s (AMF) o Ma ch 10, 2026 u de the egist atio umbe D.26-0075. Atos G oup does ot u de take, a d specifically disclaims, a y obligatio o espo sibility to update o ame d a y of the i fo matio above except as othe wise equi ed by law.
This docume t does ot co tai o co stitute a offe of Atos G oup’s sha es fo sale o a i vitatio o i duceme t to i vest i Atos G oup’s sha es i F a ce, the U ited States of Ame ica o a y othe ju isdictio . This docume t i cludes i fo matio o specific t a sactio s that shall be co side ed as p ojects o ly. I pa ticula , a y decisio elati g to the i fo matio o p ojects me tio ed i this docume t a d thei te ms a d co ditio s will o ly be made afte the o goi g i -depth a alysis co side i g tax, legal, ope atio al, fi a ce, HR a d all othe eleva t aspects have bee completed a d will be subject to ge e al ma ket co ditio s a d othe customa y co ditio s, i cludi g gove a ce bodies a d sha eholde s’ app oval as well as app op iate p ocesses with the eleva t employee ep ese tative bodies i acco da ce with applicable laws.
Atos G oup is a global leade i digital t a sfo matio with c. 54,000 employees a d a ual eve ue of c. €7.2 billio , ope ati g i 54 cou t ies u de two b a ds – Atos fo se vices a d Evide fo p oducts a d systems. Eu opea umbe o e i cybe secu ity a d a leade i cloud, Atos G oup is committed to a secu e a d deca bo ized futu e a d p ovides tailo ed AI-powe ed, e d-to-e d solutio s fo all i dust ies. Atos G oup is listed o Eu o ext Pa is.
I vesto Relatio s: i vesto s@atosg oup.com
I dividual sha eholde s: +33 8 05 65 00 75
Media Relatio s: globalp team@atosg oup.com
1 Cu e t pe imete co espo ds to G oup’s baseli e fo establishi g futu e ambitio : fo all yea s, excludi g the estimated impact of Adva ced Computi g activities, South Ame ica ope atio s a d Ideal GRP divestitu es.
2 P eviously commu icated o ga ic g owth a ge: -1% to -5%.
3 New RCF of €110 millio i cludes available cash fo €70 millio a d ba k gua a tee fo €40 millio .
4 Liquidity is defi ed as the sum of (i) the co solidated cash a d cash-equivale t positio of the G oup a d (ii) the amou ts available u de a y u d aw committed facilities (i cludi g committed ove d afts). Co solidated cash a d cash-equivale t i cludes t apped cash a d u pooled cash a d excludes cash held i esc ow accou ts i o de to p ovide cash collate al.
5 P eviously commu icated o ga ic g owth a ge: -1% to -5%.
6 Defi ed as Ope ati g Ma gi befo e Dep eciatio , Amo tizatio a d Leases.
