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United States French IT Group Atos Reports 3.4 Bn Euro Net Loss
27 Mar 2024
Barron's
Debt-ridden French IT group Atos Tuesday reported a net loss of 3.4 billion euros in 2023 due to asset writedowns and said it was aiming for a debt restructuring by July.
Debt-ridden French IT group Atos Tuesday reported a net loss of 3.4 billion euros in 2023 due to asset writedowns and said it was aiming for a debt restructuring by July.
Atos has to repay or refinance 3.65 billion euros ($4 billion) of loans and bonds maturing by the end of 2025.
Chief executive officer Paul Saleh said Atos was "in discussions with our financial creditors with a view to reaching a refinancing plan by July within the framework of an amicable conciliation procedure".
"Our operating margin has improved year over year, reflecting the execution of our cost improvement plans, while our cash flow was impacted by workforce optimisation, separation costs and lower working capital actions," he said.
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