REVENUE ORGANIC GROWTH +5.6 per cent
OPERATING MARGIN UP BY +11 per cent
TOTAL OPERATIONAL PERFORMANCE (TOP) PROGRAM
AND NEW ORGANISATION TO INCREASE MARGIN IN 2009
· Group revenue organic growth at +5.6 per cent
· Operating margin at EUR 261 million and 4.8 per cent of revenues up by +11 per cent
organically compared to last year
· Adjusted net income of EUR 181 million, representing EUR 2.59 per share
· Net debt reduction to EUR 304 million at the end of 2008
· Fast implementation of the TOP Program
· New organisation for the Group
PARIS – 18 February 2009 – Atos Origin, a leading European IT services company, today
announced full results for the year ended 31 December 2008, its new organisation and a TOP
Program aimed at accelerating margin improvement by increasing efficiency and operating
globally.
Convened on 17 February 2009 by Thierry Breton, Chairman and CEO of Atos Origin, the Board
of Directors examined and approved the accounts of the Group for the year ended 31 December
2008.
Thierry Breton said: “Despite a solid growth especially of our recurring activities, and an 11%
increase of our operating margin, Atos Origin's operational performance remained at 4.8%, below
the benchmark of our competitors. With its new organisation and the immediate implementation
of the TOP Program, Atos Origin has taken the decisions and the actions in order to face the very
strong economic slowdown but also to increase significantly its operating margin in 2009. This is
the clear mandate I have received from the Shareholders and the newly elected Board of
Directors".
(*) 2008 and 2007 revenue and operating margin at same perimeter and exchange rates i.e. excluding Italy and AEMS Exchange and
at 2008 exchange rates
(**) Defined hereafter

Revenue
As communicated on 5 February 2009, based on the new scope excluding Italy and AEMS
Exchange which were disposed of during the year, full-year 2008 Group revenue reached EUR
5 479 million which represented an organic growth of +5.6 per cent.
All service lines contributed to the revenue organic growth with +1 per cent in Consulting, +5.4
per cent in Systems Integration and +6.4 per cent in Managed Operations. Growth on recurring
activities, including Managed Operations and Application Management which represent 68 per
cent of total revenue, reached +6.5 per cent.
All major geographical areas reported organic growth except, as expected, The Netherlands
which were affected by the re-insourcing of desktop services by KPN.
Operating performance
On the scope which excludes Italy and AEMS Exchange disposed during the year 2008, the
operating margin was EUR 261 million or 4.8 per cent of revenues representing an organic
increase of +11% compared to EUR 235 million last year at same scope and exchange rates.
In the last quarter 2008, the Group focused on executing the cost saving plan: reduction of
hirings, decrease of subcontractors, reduction of G&A. These actions allowed achieving a strong
improvement in the operating margin of the fourth quarter of the year compared to the third
quarter.
Consulting reached an operating margin at 4.8 per cent of revenue. In The Netherlands, the
operating margin remained at double digits. The United Kingdom continued on its recovery trend
(+3 points compared to 2007) whereas France had a more difficult year with a reduced margin at
2 per cent of revenue.
In Systems Integration, the operating margin reached 3.9 per cent of revenue. Except The
Netherlands, all the major geographies improved their operating margin. Group utilization rate in
Systems Integration remained steady at 79 per cent.
In Managed Operations, the operating margin was 8.2 per cent of revenue, mainly led by the
profit improvement in the United Kingdom and in all geographies of Atos Worldline. In France,
excluding Atos Worldline, the profitability remained almost stable. Germany had a contrasted
profit evolution with an improvement in the systems development area and a decrease in IT
outsourcing mainly with its first customer. The Netherlands were affected by the expected
revenue decline with KPN desktop re-insourcing.

Net income
The Group made a more conservative business plan for the French operations which according
to the IFRS rules did not include the future positive effect from the TOP Program. As a result,
EUR 226 million impairment charge was booked mainly for France.
The restructuring and rationalization costs were EUR 103 million.
The profit made from the pensions in the United Kingdom with the Plan amendment has been
partly offset by a depreciation of EUR 39 million of the Dutch pension prepaid assets.
The disposal of AEMS Exchange to NYSE Euronext in August 2008 generated a capital gain of
EUR 135 million. Other capital gain on sale of assets and activities amounted to EUR 7.5 million.
As a result, the operating income reached EUR 100 million in 2008.
After net financial expenses at EUR 23 million, tax charge at EUR 48 million and minority
interests at EUR 7 million, full-year 2008 net income Group Share was EUR 23 million
compared to EUR 48 million at the end of 2007.
The adjusted net income Group share reached EUR 181 million increasing by +29 per cent
compared with last year and representing an adjusted earning per share of EUR 2.59.
Group restated effective tax rate for full year 2008 reached 23.6 per cent compared to 37.5 per
cent last year. The effective tax rate decrease resulted from the effect of the Italian operations
disposal early 2008.
Net debt
The net debt was reduced to EUR 304 million at the end of December 2008 compared to EUR
338 million at the end of December 2007. This performance takes into account on the one hand
proceeds received from the disposals of AEMS Exchange and Italy during the year for EUR 201
million and on the other hand cash outflow for the United Kingdom pensions and dividend
payment to shareholders for EUR 92 million. The net capital expenditures decreased from 5.1 per
cent of revenue in 2007 to 4.2 per cent in 2008. Additional working capital requirement was EUR
86 million during the year. Working capital was EUR +15 million at the end of 2008 and the DSO
was reduced from 67 to 63 days during the year.
Dividend
During its meeting held on 17 February 2009, the Board of Directors decided to propose at the
next Ordinary Shareholders Meeting not to pay a dividend in 2009 on the 2008 accounts.

2009 Objectives
In a tough economic environment, the Group’s priority is the improvement of the operational
performance.

Revenue
The revenue objective for 2009 is a slight decrease compared to 2008 at constant scope and
exchange rates. This objective takes into account a backlog coverage (strong in the recurring
activities) at 1 January 2009 representing 58 per cent of total revenue (vs 55 per cent at 1
January 2008) but also a slowdown expected in the cyclical businesses.

Operating margin
The Group has the ambition to improve by 50 to 100 basis points its operating margin in 2009.
With the ramp-up of the TOP Program throughout the year, the Group expects that most of the
operating margin improvement will be generated during the second half of the year. For the first
half of the year, the Group considers that the first positive effects of the TOP Program should
allow maintaining the same level of operating margin than in 2008.

Free cash flow
Despite expecting higher restructuring, rationalisation and training costs than in 2008, the Group
targets to generate in 2009 a positive free cash flow coming from an improved OMDA and a tight
control of the capital expenditure.

For further information please consult the company’s website at: http://www.atosorigin.com