First half 2020 results – Atos

Strong commercial dynamic

 Order entry up +9.4% year-on-year, Book to bill ratio at 112% (Q2 at 121%)

Revenue at € 5,627 million, -2.8% organically (Q2 at -4.8%)

Cost actions leading to an Operating margin at € 450 million, 8.0% of revenue

Working capital timing effects leading to a Free cash flow at € -172 million

 Normalized diluted EPS at € 2.93

Cybersecurity and Decarbonization acquisitions announced today

 All 2020 objectives confirmed

Paris, July 27, 2020

Atos, a global leader in digital transformation, today announced its financial results for the first half of 2020.

Elie Girard, CEO, said: “During the first half of 2020, in the very specific context of the pandemic, we prioritized the health and safety of our people, while ensuring business continuity to our customers by delivering critical services supported by our resilient business model. We also started early in the semester to prepare our customers for the post-Covid times through our Future-Ready portfolio of offerings.

Thanks to this timely strategy and the unique profile of the Group, Revenue only declined by -2.8 % organically, with the bottom of the curve reached in Q2. While taking care of our customers in this very special period, our close to 110 000 colleagues around the world have achieved an outstanding commercial performance, with an Order Entry increased by close to 10% year-on-year. We signed in Q2 several large contracts encompassing Digital, Cloud and Security. Last but not least, the pipeline strongly increased by € 1.2bn, with customers progressively focusing on front-end transformation, Full Stack Cloud migration and Employee Experience while the demand also accelerates in Business Critical Applications, Digital Security as well as Decarbonization. In the latter domains, the acquisitions announced today will reinforce further our capabilities.

This strong dynamic also reflects the fast progress in the implementation of our SPRING program driving Industry specific offerings and go-to-market approach while enhancing our culture of customer obsession. With these first results of the Group’s pivoting, we are definitely very well positioned to deliver all our objectives this year as an important step towards our mid-term targets disclosed at our 2020 Analyst Day last month.”


H1 2020 performance by Industry

Revenue was € 5,627 million, down -2.8% organically. In the context of Covid-19 crisis, Group revenue decreased only slightly thanks to its solid positioning in most of the Industries.

Revenue Operating margin Operating margin %
In € million H1 2020 H1 2019* Organic
H1 2020 H1 2019* H1 2020 H1 2019*
Manufacturing         1,037 1,142 -9.2%              13 81 1.2% 7.1%
Financial Services & Insurance         1,077 1,126 -4.3%            126 147 11.7% 13.1%
Public Sector & Defense         1,216 1,146 +6.1%            116 97 9.5% 8.5%
Telecom, Media & Technology            836 885 -5.6%              84 55 10.0% 6.2%
Resources & Services            804 827 -2.8%              43 73 5.3% 8.9%
Healthcare & Life Sciences            657 665 -1.2%              68 71 10.3% 10.7%
Total 5,627 5,792 -2.8% 450 525 8.0% 9.1%
* At constant scope and exchange rates


Manufacturing reached € 1,037 million of revenue, down -9.2% at constant