Atos Delays 2023 Results, Ends Negotiations for Unit Sale

Atos Delays 2023 Results, Ends Negotiations for Unit Sale

Atos SE, a French IT services company, said on Tuesday that it has postponed the release of its 2023 financial results, citing the need for more time to finalize its audit. The company also announced that it has terminated the discussions with potential buyers for its Worldline unit, which provides payment and transaction services.

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U.S. futures and oil prices also declined.

The company said it expects to publish its 2023 results by March 15, 2024, instead of the originally planned date of February 28. It said the delay was due to the complexity of the audit process, which involved reviewing the accounting treatment of some contracts in two of its businesses.

Atos also said it has decided to end the negotiations for the sale of its 13.1% stake in Worldline, after failing to reach an agreement on the valuation and terms of the deal. The company said it remains committed to its strategic partnership with Worldline, which was spun off from Atos in 2019.

The Dow Jones Industrial Average rose 0.3% to 38,588.93, while the Nasdaq composite dipped 0.1% to 15,624.77.

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The announcements come amid a challenging period for Atos, which has faced a slowdown in its core business and a series of profit warnings. The company said in January that it expects its 2023 revenue to decline by 3.5% to 4.5%, and its operating margin to be between 5.5% and 6%, below its previous targets.

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Source : The Wall Street Journal

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