Atos seeks refinancing scheme, annual losses widen – 03/26/2024 at 08:22

Atos said on Tuesday it wanted to restructure its debt by July after posting a record annual loss amid uncertainty over its outlook.

“We are also in discussions with our financial creditors to have a refinancing plan by July, as part of the amicable settlement process as an extension of the ad hoc mandate initiated in February.

Last,” said Atos CEO Paul Saleh.

The group said the global refinancing agreement could lead to the issuance of new securities, adding that this would likely result in dilution to existing shareholders.

The group, which has assets considered strategic by the French government and is struggling to turn around its loss-making operations, posted a record net loss of 3.44 billion euros in the fiscal year ended Dec. 31, after a loss of 1.01 billion. Euro in 2022.

“It is a loss that is sustained due to goodwill impairment, so it is a non-cash loss that is a question of accounting (…) it is a non-operational loss”, added Paul Saleh during a telephone interview. with journalists.

In February, the group postponed the release of its results to 2023 to complete an audit of goodwill impairment charges to ensure no impact on cash flows.

(Reporting by Augustine Turpin; French version by Dagmarah Macos)