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Atos to spin off payments business

Atos to spin off payments business

Atos Origin reported a 6.6% operating profit margin on a turnover up 0.8% to €8.44 billion in 2012 from €8.78 billion a year earlier. 

The UK and Ireland business unit grew its revenue 7.5% to €1.68 billion in 2012, and its other big division, Germany, raised sales 0.6% to €1.69 billion. Atos said it met all its targets for the year, with a 36% increase in its margin to €580 million, statutory revenue up 30% and a net profit up 23% to €224 million (€0.60 EPS). The company expects to raise its operating margin to 7.5% on a slightly higher turnover this year and to increase its dividend 25%.

Atos announced that it will carve out its payment and merchant transactional activities around Atos Worldline and specific transactional businesses, a move expected to be finalised by the middle of the year. The activities to be spun off had a 15% operating margin on sales up 5% to €1.1 billion in 2012. The carve-out will create a new entity in the worldwide payment arena, with more efficient management and financial flexibility for growth, Atos said. 

The post Atos to spin off payments business appeared first on Payments Cards & Mobile.

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