Paris: Atos, the French information technology services company, said group revenue for its third quarter to the end of September 2012 was flat, whilst its global consulting business slipped 7 per cent.
- Revenue: EUR 2,181 million (+0.2 per cent); +1.0 per cent year-to-date
- Consulting revenue down 7% to EUR 140 million
- Revenue up 10% in UK, but down 10% in Iberia
- Order entry up +23 per cent; Book to bill ratio: 116 per cent
- Strong backlog: EUR 15.3 billion, 1.7 years of revenue
- Free cash flow: EUR 32 million
- Net cash further improved at EUR 112 million
- All 2012 objectives confirmed
Thierry Breton, Chairman and CEO, said, "In the third quarter, we have achieved a very strong order entry with new large deals signed in the UK, Germany and Scandinavia, despite a challenging economic environment for cyclical activities.
"Together with the major wins signed in the first half of 2012, this will contribute to secure our 2013 targets. We also continued to focus on the execution of our transformation and integration programs. Finally, we confirm all our 2012 objectives.
"The achievements of the last quarter confirm the strength of the Atos' specific business model implemented over the past few years, and particularly well suited to the current environment with 77 per cent recurrent revenue and a very competitive positioning on the large outsourcing and cloud opportunities."
In Consulting & Technology Services, which represents 6 per cent of the Group, revenue was EUR 140 million, down -7.0 per cent year-on-year. Atos said the decline was "especially visible in September due to the adverse environment for short term cyclical activities, more particularly in Benelux and Iberia."
France grew thanks to the start of new contracts in Consulting and a better utilization rate in Technology Services.
In the UK, revenue was up +8.0 per cent year-on-year, mainly thanks to new Consulting practices in the Public sector.
For the first nine months of 2012, revenue for Consulting & Technology Services was EUR 447 million, down -4.1 percent
Full financial details are available here.