Atos Origin, Third quarter 2010 revenue: EUR 1,210 million....

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Algemeen advies 13/10/2010 07:34
Third quarter 2010 revenue: EUR 1,210 million,
Book to Bill: 90%, same compared to third quarter 2009,
2010 Operating Cash Flow totals EUR 83 million in first nine months,
Objectives for the Full Year 2010 confirmed,
Strong order entry expected for the fourth quarter 2010,
with Book to Bill anticipated to be at least 120 per cent
PARIS – 13 October 2010 – Today, Atos Origin, an international IT services company, reported
revenue of EUR 1,210 million for the third quarter of 2010, representing a decline of -3.5 per cent
compared to the same period last year, at same scope and exchange rates.

n EUR Million Q3 2010 Q3 2009 %
Reported revenue 1,210 1,229 -1.5%
Revenue on a like-for-like basis 1,210 1,254 -3.5%
In EUR Million 9M 2010 9M 2009 %
Reported revenue 3,704 3,818 -3.0%
Revenue on a like-for-like basis 3,704 3,870 -4.3%
In the first nine months of 2010, the revenue was EUR 3,704 million, representing an organic
decline of -4.3 per cent.

Revenue by Service Line
Total revenue
In EUR Million Q3 2010 Q3 2009 proforma % organic growth
Managed Services 452 486 -6.9%
Systems Integration 412 427 -3.5%
Hi-Tech Transactional Services 258 244 +5.5%
Consulting 48 54 -11.2%
Medical BPO 40 44 -7.5%
Total Group 1,210 1,254 -3.5%


Representing 37 per cent of the Group, Managed Services revenue was EUR 452 million in the third quarter down -6.9 per cent compared to the third quarter of 2009, of which -4 per cent is related to the expected ramp-down of Arcandor in Germany.
Representing 34 per cent of the Group, Systems Integration revenue was EUR 412 million, down -3.5 per cent in the third quarter compared to a decline of -5.6 per cent in the first half of 2010. The improvement came mainly from France, where the activity improved +6 per cent, and from the double digit growth posted by Asia and offshore countries.
Representing 21 per cent of the Group, Hi-Tech Transactional Services (HTTS) revenue was EUR 258 million, up +5.5 per cent compared to the third quarter of 2009. Growth came from the payments activity, which posted a +7.3 per cent growth and from electronic services which increased +5.5 per cent. Decline in the Financial Markets entity was limited to -5.5 per cent.
Representing 4 per cent of the Group, Consulting revenue was EUR 48 million, down -11.2 per cent compared to a decline of -17 per cent in the first half of 2010. Consulting is back to positive growth in France and the United Kingdom. It remains challenging in the Benelux due to the combination of headcount reduction and the significant pre-sales project support that is
time consuming for the consulting teams.
Representing 3 per cent of the Group, Medical BPO revenue was EUR 40 million, down -7.5 per cent, i.e. EUR 4 million, as a result of the moratorium which came to an end on 10 September for the Group.

Commercial activity
Total order entries for the third quarter of 2010 were EUR 1,093 million, representing a Book to Bill ratio of 90 per cent compared to 89 per cent for the third quarter in 2009.
The Arcandor Group has completed a deal with a German private fund to acquire all of the department stores from its Karstadt subsidiary. Atos Origin remains cautious and has only booked into its backlog half of its Managed Services contract with Karstadt that ends in December 2012.
Due to negotiations with the UK Public Sector that concluded with the signature of a Memorandum of Understanding on 10 September 2010, some significant Managed Services contract renewals were postponed to the fourth quarter of this year.
The Group’s objective is to reach in the fourth quarter a book to bill of at least 120 per cent, in order to achieve a 109 per cent book to bill for the full year in 2010, compared to 100 per cent for the full year 2009.
On 30 September 2010, the full backlog was EUR 7.2 billion, representing 1.4 years of revenue as at 30 June 2010 and at 30 September 2009.
On 30 September 2010, the weighted full pipeline was EUR 2.8 billion, compared to EUR 2.6 billion at 30 June 2010 and 2.8 billion at 30 September 2009.

Net debt
Group net debt on 30 September 2010 stands at EUR 198 million after the acquisition of the company Venture Infotek in India, Shere in the UK, and the minority interest of Atos Worldline in Germany. During the third quarter 2010, the Group pursued its actions to monitor its investments and to improve the working capital. With an increase of the OMDA resulting from
the improvement of the Operating Margin, the Group generated an operational cash flow of EUR 83 million during the first nine months of 2010, in line with its annual objective.

Human Resources
The number of employees at the end of September was 47,654 compared to 48,188 at the end of June 2010.
The number of direct staff is stable since April 2010 while the number of indirect staff has declined by -5 per cent during the third quarter in the context of the Added Value Analysis (AVA) program implemented by the Group.
The attrition rate was 12 per cent in the third quarter, compared to 9 per cent for the first half of 2010.
The Group continues its Human Resources policy to protect both the employment and the employability. 1,700 engineers joined the company as direct staff during the third quarter 2010.
Half of these new joiners were in offshoring countries.
2010 Objectives The Group confirms its objectives for 2010 as communicated at the beginning of the year.
Priorities remain to maintain and further improve the skills of its staff, to improve operating margin and cash generation as per its three-year plan.

Operating margin
As part of its 2009-2011 plan to improve its profitability, the Group confirms its ambition to increase its operating margin by +50 to +100 basis points in 2010.

Cash Flow
The Group has the objective to confirm the improvement achieved in 2009 by generating a net operational cash flow in the same range in 2010.

Revenue
Due to the Arcandor bankruptcy, the Group expects in 2010 a slight revenue organic decrease, however at a lesser extent than the one achieved in 2009.

A webcast in English will be held today 13 October at 9:30 am, CET time,
accessible on www.atosorigin.com



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL