Atos Origin ends sale talks; posts rise in Q1 revenue
14 May 2007 | 1155 views | 0
Source: Atos Origin
Atos Origin today announced that unaudited revenues for the three months ended 31 March 2007 amounted to EUR 1,435 million, representing a 6.9 per cent increase on a reported basis and a 2.5 per cent increase on a constant scope and exchange rate basis.
Revenue growth was above expectations for the quarter, thereby underpinning the Group's objective of 8.5 per cent top line growth in 2007.
Further to its statement on 26 March 2007, Atos Origin has now finalised the review of strategic options. At the end of the period set by the Group, no binding offers have been received and the Supervisory and Management Boards have unanimously concluded that it is in the best interest of all Group stakeholders to pursue and accelerate, on a stand-alone basis, the value-creating strategy announced in February this year. The Group has thus terminated all discussions with third parties.
Atos Origin is fully committed to the implementation of its transformation plan, with 3 objectives over 3 years: firstly to accelerate organic growth; secondly to improve efficiency; and thirdly to operate as a global company.
Execution of the transformation plan is already enjoying solid momentum, notably in global offshoring where the initial 2009 target of 6,100 staff has been increased to 8,000 based on increased demand from our major country organisations.
The integration of Banksys is also proceeding ahead of plan. The Group will look to further accelerate its development in the payment segment and to participate in the consolidation of the sector, building on its successful Atos Worldline activity, already a pan-European leader.
Atos Origin is also exploring opportunities to strengthen its presence in Asia.
Bernard Bourigeaud, CEO of Atos Origin, declared "We received expressions of interest to buy all the shares of the company in March and decided to review these proposals. Following this review process, the Supervisory and Management Boards reached the unanimous decision that the best option for Atos Origin and all its stakeholders is to pursue the implementation of the transformation plan on a stand-alone basis in order to create ongoing value for our shareholders, clients and employees alike. We confirm our target of douubling our operating margin in absolute value by end 2009, and with a solid client base, strong recurring revenues and a healthy financial situation we look to the future with confidence."