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Atos SE (AEXAF) CEO Rodolphe Belmer on FY2021 Results - Earnings Call Transcript

Mar. 01, 2022 10:05 PM ETAtos SE (AEXAF), AEXAY
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Atos SE (OTCPK:AEXAF) FY2021 Earnings Conference Call March 1, 2022 2:00 AM ET

Company Participants

Rodolphe Belmer - Chief Executive Officer

Uwe Stelter - Chief Financial Officer

Conference Call Participants

Stacy Pollard - JPMorgan

Laurent Daure - Kepler Cheuvreux

Nicolas David - ODDO BHF

Mohammed Moawalla - Goldman Sachs

Michael Briest - UBS

Frederic Boulan - Bank of America

Neil Steer - Redburn


Good day. And thank you for standing by. Welcome to the Atos Full Year 2021 Results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions].

I would now like to turn the conference over to your speaker today, Rodolphe Belmer, Atos CEO. Please go ahead.

Rodolphe Belmer

Good morning. And thank you for being with us today for the presentation of Atos' 2021 results. I am Rodolphe Belmer, CEO and I'm joined on this call by Uwe Stelter, Group CFO. As you know, our 2021 results have been pre-announced earlier this year, Uwe and I, will go through them in detail. We'll then present our main priorities and objectives for 2022 before taking your questions.

Atos did deliver well in 2021. The accelerated move to the cloud prompted a severe decline in classic IT services that could not be compensated by growth in cloud, digital and security activities. In addition, the unexpected reassessment of large contracts as well as unforeseen slippages at year-end further impacted the group's performance. This led to the results you already know, minus 2.5% revenue decline at constant currency, 3.5% operating margin, and a free cash flow of minus €419 million.

In light of such developments and of the group's decision to refocus its activity portfolio towards the growing parts of the business, I joined Atos in January, with

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