Core Points - Atos SE has completed a reverse stock split as decided by its Board of Directors on March 6, 2025, following a delegation of powers by the shareholders' General Meeting on January 31, 2025 [1][2][3] Summary by Sections Reverse Stock Split Details - The reverse stock split is a technical exchange transaction that does not affect the total value of shares held by shareholders [2] - The exchange ratio is 10,000 old shares with a par value of €0.0001 for 1 new share with a par value of €1 [9] - The total number of old shares subject to the reverse stock split was 190,358,728,519, resulting in 19,035,872 new shares [9] Shareholder Actions - Shareholders holding multiples of 10,000 shares do not need to take any action as their shares were automatically consolidated [4] - Shareholders with fractional rights will be compensated by their financial intermediaries within 30 days of April 24, 2025 [5] Adjustments Related to Warrants - The exercise parity of the share subscription warrants issued on December 18, 2024, has been adjusted in accordance with the reverse stock split [6][7] - The new exercise parity corresponds to the product of the previous exercise parity and the ratio of new shares to old shares, resulting in a maximum of 1,107,589 new ordinary shares available upon exercise [7] Adjustments for Free Share Allocations - The rights of beneficiaries of free share allocations have been adjusted to reflect the reverse stock split, with the number of rights allocated being rounded down to the nearest whole number if necessary [10][11] Trading and Timetable - The new shares began trading on Euronext Paris on April 24, 2025, under ISIN code FR001400X2S4 [9][12] - The compensation period for shareholders with fractional rights runs from April 24 to May 25, 2025 [12] Company Overview - Atos is a global leader in digital transformation with approximately 74,000 employees and annual revenue of around €10 billion [13] - The company specializes in cybersecurity, cloud, and high-performance computing, providing tailored solutions across 68 countries [13]

Core Insights - The company reported Q1 2025 revenue of €2,068 million, representing a 15.9% organic decline compared to Q1 2024, primarily due to lower order entry and contract completions in 2024, prior to the financial restructuring completed on December 18, 2024 [2][8][4] - Despite the revenue decline, there is a confirmation of continued commercial recovery, supported by strategic large deal signatures, with order entry reaching €1.7 billion and a book-to-bill ratio of 81%, an increase of 17 points from Q1 2024 [6][19] - The company has limited cash consumption to approximately €-40 million in Q1 2025, a significant reduction from €-415 million in Q1 2024, with no use of account receivable factoring or specific optimization on trade payables [2][4] Financial Performance - Q1 2025 revenue by business segments shows Eviden at €973 million (down 14.0% organically) and Tech Foundations at €1,095 million (down 17.5% organically), contributing to the total revenue decline [5][9] - Regional performance indicates North America experienced a significant decline of 27.6% organically, while Southern Europe and UK/Ireland also faced substantial drops of 16.9% and 28.8% respectively [10][14][17] - The total liquidity position as of March 31, 2025, is estimated at €1,958 million, down from €2,179 million as of December 31, 2024, with cash and cash equivalents at €1,518 million [3][25] Strategic Outlook - The company plans to present an updated strategy and organizational structure during the Capital Markets Day on May 14, 2025, marking a new chapter focused on customer service through innovation and high-quality services [4][26] - The backlog at the end of March 2025 reached €12.6 billion, representing 1.3 years of revenue, with a qualified pipeline of €4.5 billion, indicating potential future growth [20][18] - The total headcount decreased by 5.2% to 74,074, reflecting ongoing restructuring efforts [21]

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Eviden will bring together a unique comprehensive set of AI capabilities – supercomputing power for AI, software layer and AI use-cases development Paris, France – April 10, 2025 – Eviden, the Atos Group business leading in digital, cloud, big data and security today announces the signature of a 50-million-euro contract with the Serbia’s Office for IT and eGovernment. Together, Eviden and the Serbian administration will deploy a National AI Factory – composed of an AI Center of Excellence and a leading AI-d ...

Core Insights - Atos has integrated generative artificial intelligence into the Selartag® cellar management application, significantly enhancing the efficiency of wine record creation and inventory management [2][3][6] Group 1: AI Integration and Benefits - The generative AI feature reduces the time required to create wine records by 90%, allowing users to list a bottle in just seven seconds [2][5] - The average data completeness rate has increased to 88% from 53% prior to the AI implementation, improving the quality of the Selartag® application database [2][5] - The AI feature corrects spelling errors and eliminates duplicate entries, thus reducing administrative tasks for sommeliers [2][5][7] Group 2: Development and Implementation - The AI feature was developed in six months using Amazon Bedrock, showcasing a rapid deployment process [2][6] - The Selartag® application was developed in partnership with AWS, which provides secure cloud hosting for the solution [8] Group 3: User Experience and Functionality - Users can now take a photo of a wine bottle label to pre-fill its characteristics, streamlining the data entry process [5][9] - The application includes features such as tracking bottle movements in real-time, which enhances inventory management and data entry reliability [9] Group 4: Company Overview - Atos is a global leader in digital transformation with approximately 78,000 employees and annual revenue of around €10 billion [10] - The company specializes in cybersecurity, cloud services, and high-performance computing, providing tailored solutions across various industries [10][11]

Core Viewpoint - Atos SE has moved its Q1 2025 revenue release date to April 17, 2025, to align with its liquidity reporting obligations to creditors [1][2]. Revenue Release Details - The Q1 2025 revenue press release will now be issued on April 17, 2025, at 07:30 am (CET – Paris) and will include the estimated liquidity position as of March 31, 2025 [2]. - There will be no conference call on the release day, and the company will not provide indications on its 2025 financial objectives [2]. Upcoming Events - April 17, 2025: First quarter 2025 revenue release [3] - May 14, 2025: Capital Markets Day [3] - June 13, 2025: Annual General Meeting [3] - August 1, 2025: First semester 2025 results [3] Company Overview - Atos is a global leader in digital transformation with approximately 78,000 employees and annual revenue of around €10 billion [4]. - The company is the European leader in cybersecurity, cloud, and high-performance computing, providing tailored end-to-end solutions across 68 countries [4]. - Atos is committed to decarbonization and aims to provide secure and sustainable digital solutions for its clients [4].

Core Viewpoint - The imposition of "Liberation Day" tariffs by President Trump has led to significant declines in major stock indexes, raising concerns about potential economic impacts, particularly on inflation and the risk of recession or stagflation in the U.S. economy [1][3]. Economic Impact - A baseline tariff of 10% will be applied to all imports starting April 5, with rates potentially rising to 54% depending on the tariffs imposed by other countries on U.S. exports [2]. - Economists express concerns that these tariffs could exacerbate inflation, which remains high despite a 1% interest rate cut by the Federal Reserve last year [3]. Investment Strategy - In light of market volatility, investment in low-beta stocks with high dividend yields is recommended as a strategy to mitigate risks and provide regular income [4]. - If market conditions improve, these stocks are expected to capture upside potential, while their low-beta nature can help minimize losses during downturns [4]. Utility Sector Overview - The utility sector is characterized by mature and fundamentally strong companies that provide essential services, making them less sensitive to economic cycles [6]. - Utilities are known for stable earnings and cash flows, which enable consistent dividend payments, appealing to income-oriented investors [7]. Recommended Utility Stocks - Five low-beta, high-yielding utility stocks are highlighted for their strong growth potential and positive earnings estimate revisions: Atmos Energy Corp. (ATO), WEC Energy Group Inc. (WEC), Exelon Corp. (EXC), CMS Energy Corp. (CMS), and CenterPoint Energy Inc. (CNP) [5][8]. Atmos Energy Corp. (ATO) - ATO benefits from rising natural gas demand and has a long-term investment plan to enhance pipeline reliability [12]. - The company is expanding its renewable natural gas operations and has a current dividend yield of 2.24% with expected revenue and earnings growth rates of 16.5% and 5.1%, respectively [14]. WEC Energy Group Inc. (WEC) - WEC's strategic investments in infrastructure and renewable assets are expected to support its growth and help achieve net carbon neutrality by 2050 [15]. - The company has a current dividend yield of 3.28% and expected revenue and earnings growth rates of 9.2% and 8.5%, respectively [17]. Exelon Corp. (EXC) - EXC is focused on strengthening its transmission and distribution infrastructure, with initiatives aimed at grid modernization [18]. - The expected revenue and earnings growth rates for EXC are 3.4% and 6.4%, respectively, with a current dividend yield of 3.48% [19]. CMS Energy Corp. (CMS) - CMS plans to invest $20 billion in infrastructure upgrades and clean energy generation from 2025 to 2029 [20]. - The expected revenue and earnings growth rates for CMS are 7.3% and 7.8%, respectively, with a current dividend yield of 2.91% [21]. CenterPoint Energy Inc. (CNP) - CNP is poised to benefit from increasing electricity demand and is investing in infrastructure upgrades to support long-term growth [23]. - The expected revenue and earnings growth rates for CNP are 3.2% and 8%, respectively, with a current dividend yield of 2.38% [26].

Core Insights - Eviden, a business unit of Atos Group, has achieved standard-level qualification from the French National Agency for Information Systems Security (ANSSI) for its Trustway IP Protect product, confirming its reliability and effectiveness in securing sensitive communications and data [1][4]. Group 1: Product Features and Compliance - Trustway IP Protect provides secure connectivity for businesses, protecting sensitive information from threats and ensuring the confidentiality and integrity of IP flows [2]. - The product is based on a cryptographic module developed in France and meets IPSec standards, with plans to support post-quantum algorithms through a partnership with CryptoNext Security [2][3]. - The ANSSI qualification process involves a rigorous assessment of cybersecurity solutions, ensuring compliance with ANSSI requirements and establishing the credibility of the supplier [3]. Group 2: Certifications and Market Position - The recent ANSSI qualification follows the EAL4+ Common Criteria certification obtained in December 2024, reinforcing Trustway IP Protect's status as a trusted solution for critical infrastructure security [4]. - With this qualification, regulated organizations can confidently deploy Trustway IP Protect, adhering to strict regulatory requirements [4]. Group 3: Company Overview - Eviden is a leader in digital transformation with a focus on data-driven solutions, boasting an annual revenue of approximately €5 billion and a workforce of 41,000 employees across more than 47 countries [5]. - Atos Group, the parent company of Eviden, is a global leader in digital transformation with around 78,000 employees and an annual revenue of approximately €10 billion, recognized as a European leader in cybersecurity and cloud services [6].

Industry Overview - Natural gas distribution companies transport natural gas from production regions to consumers across the U.S., with a significant underground pipeline network [1][3] - The demand for natural gas is expected to rise, particularly during winter for heating and summer for electricity generation [1] Future Prospects - Natural gas production volumes are projected to increase in 2025, benefiting companies like Atmos Energy Corporation, Southwest Gas Corporation, New Jersey Resources Corporation, and Chesapeake Utilities [2][4] - The U.S. Energy Information Administration (EIA) forecasts a 16.7% year-over-year increase in U.S. liquefied natural gas (LNG) export volumes in 2025, with a further 14.2% increase expected in 2026 [4] Financial Environment - The Federal Reserve's recent interest rate cut of 100 basis points to a range of 4.25-4.5% is expected to benefit capital-intensive utilities by reducing borrowing costs [5] - Utilities are investing approximately $37 billion annually to enhance the reliability of natural gas distribution and transmission systems [6] Market Performance - The Zacks Utility Gas Distribution industry ranks 57, placing it in the top 23% of 245 Zacks industries, indicating strong near-term prospects [7][8] - Over the past year, the Gas Distribution industry has gained 11.2%, outperforming the S&P 500's 8.6% but lagging behind the Utility sector's 15% growth [9] Valuation Metrics - The industry is currently trading at a trailing 12-month EV/EBITDA ratio of 10.41X, which is lower than the S&P 500's 16.63X and the sector's 15.65X [11] Company Highlights - **Atmos Energy Corporation**: Plans to invest $3.7 billion in fiscal 2025 to strengthen infrastructure, with a current dividend yield of 2.25% [14][15] - **Southwest Gas Corporation**: Aims to invest $4.3 billion from 2025-2029, with a current dividend yield of 3.45% [18] - **New Jersey Resources Corporation**: Focuses on infrastructure upgrades, with a current dividend yield of 3.67% [20][21] - **Chesapeake Utilities Corporation**: Plans to invest $1.5-$1.8 billion over five years, with a current dividend yield of 2.56% [23][24]

Core Insights - Atos Group has appointed Pierre-Yves Jolivet as Executive Vice-President and Head of Eviden and Cyber Business, indicating a strategic move to enhance leadership in these critical areas [1][5] - Pierre-Yves Jolivet brings extensive experience from Thales, where he led the Cyber Digital Business Line, showcasing his expertise in cybersecurity and defense sectors [2][5] - Atos is recognized as a global leader in digital transformation with approximately 78,000 employees and annual revenue around €10 billion, emphasizing its significant market presence [5] Company Overview - Atos operates in 68 countries, providing tailored end-to-end solutions across various industries, and is the European leader in cybersecurity, cloud, and high-performance computing [5] - The company is committed to decarbonization services and products, aiming to create a secure and sustainable digital environment for its clients [5][6] - Atos's mission includes supporting knowledge, education, and research development while promoting scientific and technological excellence in a multicultural context [6]