PARIS : Atos, the struggling French IT consulting firm that is planning to split up into two listed entities, said it expected sales at its loss-making unit Tech Foundations to hit the bottom in 2024.
The firm, which will hold an investor day later in the day, said that Tech Foundations - which regroups Atos' IT consulting legacy activities - would generate around 5 billion euros in 2024 and grow from there, two years earlier than what it announced in 2022. Tech Foundations' operating margin is expected to reach between 6 per cent and 8 per cent in 2026, while free cash flow before interest and tax is expected to turn positive in 2025.
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