Press Release
Atos Group publishes
estimated 2026 half-year liquidity position and 2026 year-end forecast
Paris, July 20, 2026 – Atos Group (Euronext Paris: ATO) today publishes an estimated 2026 half-year liquidity position and a 2026 year-end liquidity forecast.
Liquidity position
As a reminder, the publication of the quarterly liquidity position is part of the regular reporting requirements defined in the December 2024 credit documentation.
Net change in cash1 for the semester is estimated at c. €-120 million at the current perimeter, reflecting usual business seasonality, amplified by the change in timing of the yearly variable incentive payment, as well as further implementation of restructuring plans (c.€-118 million cash restructuring costs).
This is before the estimated impacts of:
- Net proceeds from M&A operations for €215 million, including the cash impact of divested perimeter for €-36 million
- Change in unsolicited payments received in advance of the invoice payment due date during the semester for €-153 million and factoring of trade receivables for €8 million
- The additional cash collateral deposited in escrow accounts of €-173 million, securing the supersedeas bond related to the TriZetto litigation
- Debt repayment and refinancing (including bonds purchase on the open market for €-109 million and first steps in relation to the refinancing of the 1L tranche of the Group’s debt)
The trade receivables factoring program was recently closed with a financing partner for its first country. The program is expected to continue to ramp up in the second half of the year and to be extended to three other countries for a sizeable amount. It provides a secured and recurring source of funding at an attractive all-in cost of circa 6% for the euro tranche. It is committed for a duration of three years on a non-recourse basis.
As of June 30, 2026, Atos Group liquidity is estimated at €1,805 million, or €948 million after the €857 million reimbursement of the outstanding former 1L debt that took place on July 6 (including call premium). This compares to €1,705 million as of December 31, 2025 and remains well above the minimum €650 million level required by the December 2024 credit documentation. It was comprised of:
| In € million | June 30, 2026
(estimated) |
December 31, 2025
(actuals) |
Variation |
| Cash and cash equivalent | 1,735 | 1,265 | +470 |
| Of which payments received in advance of invoice payment due date | 123 | 276 | -153 |
| Of which factoring of trade receivables | 8 | – | +8 |
| Undrawn revolving credit facility | 702 | 440 | -370 |
| Total liquidity3 | 1,805 | 1,705 | +100 |
Liquidity test forecast
In accordance with the December 2024 financing documentation, the company conducted on June 30, 2026 a liquidity test based on the forecast liquidity position as at December 31, 2026, pursuant to which it must apply any disposal proceeds toward a mandatory early repayment of the December 2024 financing debt if liquidity exceeds €1.1 billion.
The forward-looking liquidity position of the Group as at 31 December 2026, taking into account the estimated liquidity position as at June 2026 – after the reimbursement of the outstanding former 1L debt that took place on July 6 – and based on a conservative six-month cashflow forecast, amounts to €1.098 billion, aiming to preserve short-term liquidity and reflecting the following assumptions:
- Confirmed FY 2026 positive net change in cash4 target
- No further proceeds from disposals
- Limited ramp up of factoring programs (conservative approach)
- No benefit from unsolicited payments received in advance of the invoice payment due date during the second half of the year
Consequently, the forecast liquidity position as at 31 December 2026 is below €1.1 billion. Therefore, in accordance with the December 2024 financing documentation, no disposal proceeds shall be applied to mandatory early repayment at this stage.
Depending on the actual liquidity position at 31st December 2026, the Group will allocate any amounts from disposal proceeds that exceed €1.1 billion to mandatory early repayment.
Disclaimer
This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group’s expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors’ behaviors. Any forward-looking statements made in this document are statements about Atos Group’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Atos Group’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2025 Universal Registration Document filed with the Autorité des Marchés Financiers (AMF) on March 10, 2026 under the registration number D.26-0075. Atos Group does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law.
This document does not contain or constitute an offer of Atos Group’s shares for sale or an invitation or inducement to invest in Atos Group’s shares in France, the United States of America or any other jurisdiction. This document includes information on specific transactions that shall be considered as projects only. In particular, any decision relating to the information or projects mentioned in this document and their terms and conditions will only be made after the ongoing in-depth analysis considering tax, legal, operational, finance, HR and all other relevant aspects have been completed and will be subject to general market conditions and other customary conditions, including governance bodies and shareholders’ approval as well as appropriate processes with the relevant employee representative bodies in accordance with applicable laws.
About Atos Group
Atos Group is a global leader in digital transformation with c. 56,000 employees and annual revenue of c. €7.2 billion, operating in 54 countries under two brands – Atos for services and Eviden for products and systems. European number one in cybersecurity and a leader in cloud, Atos Group is committed to a secure and decarbonized future and provides tailored AI-powered, end-to-end solutions for all industries. Atos Group is listed on Euronext Paris.
Contacts
Investor Relations: investors@atosgroup.com
Individual shareholders: +33 8 05 65 00 75
Media Relations: globalprteam@atosgroup.com
1 Net change in cash before debt repayment, and calculated before the estimated impacts of (i) exchange rate fluctuation, (ii) M&A, (iii) change in unsolicited payments received in advance of the invoice payment due date during the year and factoring and (iv) change in cash deposited in escrow accounts in order to provide cash collateral
2 New RCF of €110 million includes available cash for €70 million and bank guarantee for €40 million
3 Liquidity is defined as the sum of (i) the consolidated cash and cash-equivalent position of the Group and (ii) the amounts available under any undrawn committed facilities (including committed overdrafts). Consolidated cash and cash-equivalent includes trapped cash and unpooled cash and excludes cash held in escrow accounts in order to provide cash collateral
4 Net change in cash before debt repayment, and calculated before the estimated impacts of (i) exchange rate fluctuation, (ii) M&A, (iii) change in unsolicited payments received in advance of the invoice payment due date during the year and factoring and (iv) change in cash deposited in escrow accounts in order to provide cash collateral
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