Listen Live

Current Weather

French company Atos sees sales at loss-making unit Tech Foundations to hit bottom in 2024

SHARE NOW

PARIS (Reuters) – Atos, the struggling French IT consulting firm that is planning to split up into two listed entities, said it expected sales at its loss-making unit Tech Foundations to hit the bottom in 2024.

The firm, which will hold an investor day later in the day, said that Tech Foundations – which regroups Atos’ IT consulting legacy activities – would generate around 5 billion euros ($5.34 billion) in 2024 and grow from there, two years earlier than what it announced in 2022.

Tech Foundations’ operating margin is expected to reach between 6% and 8% in 2026, while free cash flow before interest and tax is expected to turn positive in 2025.

($1 = 0.9359 euros)

(Reporting by Mathieu Rosemain; Editing by Sudip Kar-Gupta)

Brought to you by www.srnnews.com