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Atos (ATO) investor relations material

Atos Q3 2026 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 TU earnings summary21 Oct, 2026

Executive summary

  • Q3 revenue was €1,642m, down 2.4% organically; the decline narrowed from 11.0% in Q1 and 5.8% in Q2, marking a third consecutive quarter of improvement.

  • Net change in cash was +€44m, the first cash-positive quarter since Genesis began; FY 2026 targets were reaffirmed.

  • Recovery efforts increasingly focus on profitable growth in agentic AI, digital sovereignty and cybersecurity.

Financial highlights

  • Q3 order entry was €1,024m, with book-to-bill of 62% versus 70% in Q3 2025; the quarter had fewer large-deal signing opportunities.

  • Q3 net change in cash was +€44m, including ~€50m of restructuring cash outflow; cash-flow figures exclude specified financing, M&A, shareholder and other movements.

  • Liquidity rose to €966m at September-end from €948m at June-end, remaining above the €650m minimum; the September total included €896m cash and a €70m undrawn RCF.

  • Restructuring cash costs reached €170m through Q3, including €120m in H1 and €50m in Q3; ~€30m more was expected in Q4.

Outlook and guidance

  • FY 2026 targets were confirmed: organic revenue decline of ~5%, operating margin of ~7% and positive net change in cash.

  • Q4 revenue decline was expected at 0%–2%, with revenue above Q3 and book-to-bill above 100%.

  • Year-end liquidity was projected at €1.3bn–€1.4bn, including possible client advances; Q4 net cash generation was expected to be at least €76m.

  • 2026–2028 ambitions include 5–7% revenue CAGR, ~10% operating margin and net debt/OMDAL below 1.5x by 2028.

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Frequently asked questions

Atos SE provides digital transformation services including cybersecurity, cloud solutions, and high-performance computing. The company serves a variety of industries such as public sector, healthcare, manufacturing, financial services, and energy. Its services span consulting, systems integration, managed services, and business process outsourcing. Atos SE is headquartered in Bezons, France, and its shares are listed on the Euronext Paris.