Atos Origin2008 first quarter revenue at EUR 1,424 million Organic growth at +5.3 per cent

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Beleggingsadvies 30/04/2008 09:44
Excluding 2008 disposals, Italy and AEMS Exchange, Q1 2008 revenue stands
at EUR 1,356 million; a +5.9 per cent organic growth
· Order entries increased by +11 per cent compared to first quarter 2007
· Net debt reduced at EUR 304 million compared to EUR 411 million at 31 March
2007
PARIS – 30 April 2008 – Atos Origin, a leading IT services company, today announced 2008 first quarter revenue. Excluding Italy sold at 31 January 2008 and AEMS Exchange, disposal expected to be finalised in September 2008, first quarter revenue amounted to EUR 1,356 million representing an organic growth of +5.9 per cent.

First quarter statutory revenue including one month of Italy and three months of AEMS Exchange was EUR 1,424 million, still a strong organic growth of +5.3 per cent.
These figures reaffirm the encouraging trend observed since mid-2007 and confirm the positive momentum of the Transformation Plan.
First quarter 2008 revenue:
In € Million 2008 2007 %
Exchange rates Disposals 2007 proforma % organic growth
Statutory scope 1,424 1,435 -0.8% (35) (47) 1,353 +5.3%
Italy (1 month in Q1 08 and 3 months in Q1 07) (20) (65) 44 (21)
Revenue excluding Italy 1,404 1,370 +2.5% (35) (3) 1,331 +5.5%
AEMS Exchange (48) (54) 2 (52)
Revenue excluding Italy and AEMS Exchange 1,356 1,316 +3.0% (33) (3) 1,280 +5.9%

Philippe Germond.
– CEO of Atos Origin said: “This promising first quarter 2008 performance
validates our Transformation Plan, which the Management Board started to implement during the second half of last year, and which is now producing tangible results both in revenue growth and orders intake. These figures highlight the competitiveness of the underlying business and the
momentum that we are achieving. Following on from our much improved 2007 full year results, this quarter puts Atos Origin firmly on the road to recovery and positions us well to meet our stated 2008 targets. The first quarter illustrates that Atos Origin is in a position to deliver shareholder
value.”

Q1 2008 Revenue performance by service line:
In € Million Q1 2008 Q1 2007 % % organic growth
Q1 2008 Q1 2007 % % organic growth
Consulting 88 95 -6.6% -3.3% 88 95 -6.6% -3.3%
Systems Integration 574 584 -1.8% +6.8% 559 535 +4.5% +7.2%
Managed Operations 762 756 +0.7% +5.2% 708 686 +3.3% +6.2%
Total Group 1,424 1,435 -0.8% +5.3% 1,356 1,316 +3.0% +5.9%
(*) As of 1 January 2008

After organic growth of respectively +6.6 per cent and +5.3 per cent in Q3 and Q4 2007, Q1 2008 organic growth remained strong both on statutory scope with +5.3 per cent and, excluding Italy and AEMS Exchange, with +5.9 per cent.
This performance is mainly due to good trends in Systems Integration which continues to improve quarter after quarter and record a solid +7.2 per cent organic growth in Q1 2008.
Managed operations remain robust with +6.2 per cent organic growth benefiting from a solid +10.4 per cent organic growth for Atos Wordline after +5.1 per cent organic growth full year 2007, and from +5.6 per cent for Managed Services thanks to long term contracts ramp up.
Consulting is improving, albeit still negative, the organic decrease was limited to -3.3 per cent compared to -6.3 per cent in Q4 2007 and -16.2 per cent in Q3 2007, showing a recovery trend.

Net debt
The net debt was reduced to EUR 304 million at the end of March 2008 compared to EUR 338 million at the end of December 2007 and EUR 411 million at the end of March 2007. This performance was reached thanks to strong cash drive actions on working capital and the effect of the disposal of Italy for EUR 40 million.

2008 Objectives
Excluding Italy, sold in January 2008, and AEMS Exchange expected to be transferred to NYSE Euronext in September 2008, the Group confirms its 2008 objectives as communicated on 15 February 2008:
o Revenue organic growth of +4%
o Improvement of the operating margin to reach 5.6 per cent after operating costs of Transformation Plan compared to 4.6 per cent in 2007
o Net debt reduction of EUR 100 million after dividends, cash out for the pensions in the UK and proceeds from disposals Italy and AEMS Exchange.



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