Atos reports double digit growth in UK Consulting
PARIS -- Atos, the international information technology services company, announced its results for the first half of 2012.
Revenue was EUR 4,366 million, up +76.3 percent compared to the first half of 2011 on published revenues, representing an organic growth (constant scope and exchange rates) of +1.4 percent. The four largest GBUs are Germany with 19.2 percent of total revenue, the UK at 18.6 percent, Benelux and France at 11 percent.
Consulting & Technology Services represent 7 percent of the Group, and revenue was EUR 307 million, down -2.8 percent compared to the first half of 2011. Part of the decline resulted from less working days in the main European countries compared to the same period last year. The increased activity in Consulting, in the UK (+16 percent), and in Technology Services in France (+5 percent), partially offset the decline of the Service Line in Benelux (-9 percent) and in Iberia (-11 percent).
Book to bill ratio was 113 percent thanks to a strong commercial activity and major bookings in Managed Services. The book to bill ratio for the Group was 120 percent excluding Siemens, for which the outsourcing and application management elements of the Global IT contract were booked in the backlog in July 2011.
Operating margin was EUR 248.8 million, representing 5.7 percent of revenue compared to 3.7 percent in the first half pro forma figures of 2011 at constant scope and exchange rates. Net income Group share stood at EUR 102 million compared to EUR 100 million in the first half 2011 which included a one-off result before tax on pensions new indexation in the UK for EUR 32 million.
Thierry Breton, Chairman and CEO at Atos said: “The first half confirmed what we expect to be a solid year in 2012. We continue to closely monitor the global economic environment, while remaining focused on building a profitable and sustainable growth model. Thanks to the efficient execution of the TOP² Program, our operating profitability is in line with the 6.5 percent objective of the full year.
The first half of the year was also dedicated to invest in innovation in order to increase competitiveness and to remain responsive to the changing needs of our clients. Our exciting recent initiatives in Cloud with EMC² and VMware, in social networks with the acquisition of blueKiwi, in mobile payment and in smart mobility for connected cars will be key contributors for future growth.
Order entry strongly accelerated during the second quarter. Our position in the recurring businesses is favorable as shown by the signing of major IT contracts such as the one with McGraw-Hill in the US. Our performance and increasing backlog allow us to look to the future with confidence. Finally, the transformation of the legal status to a SE (European company) voted at the Shareholders General Meeting consolidates the European leadership of our Group.”