Listen to the audio version of the article
We need a deal before the cash runs out. The French information technology group Atos, after losing the possibility of a rescue by Airbus, has started a friendly conciliation procedure with its creditors after recording losses of 3.4 billion euros in 2023 following significant write-downs (for 2.5 billion). Debt at the end of 2023 rose to 2.23 from 1.45 billion in 2022. The stock, which has already lost 77% on the stock market since the beginning of the year, is losing another 9% on the Paris list
In July the end of the cash register
Atos aims to reach an agreement with creditors by July and is convinced that until then the liquidity needs will be covered by the 2.4 billion currently in cash. In the first days of April the group will present the parameters of its refinancing plan. At the end of February, Atos interrupted discussions with EP Equity Investments for the sale of Tech Foundations, while last week Airbus withdrew from negotiations to purchase the big data and cybersecurity activities from the IT group.