Atos défend ses positions dans les systèmes de paiement

Goldman Sachs a publié un compte-rendu d’une rencontre entre Gilles Grapinet, DG adjoint d’Atos et des investisseurs. La réunion a notamment porté sur le positionnement et les perspectives de l’activité paiements, qui doit faire l’objet d’une prochaine scission.

Les grandes lignes des commentaires sont les suivantes:

[cleeng_content id= »510221687″ description= »Plus d\’analyses et de commentaires à découvrir…  » price= »0.19″ t= »article » referral= »0.05″] »1) The company is on track to deliver 2013 guidance. As indicated earlier, 1Q is expected to be down yoy owing to fewer working days (Easter). Macro, new large deals driven by revenue synergies are key upside risks to estimates.
2) Payments is key focus for the management team to further enhance shareholder value and carve-out plans remain on track (July 2013).
3) Main rationale for payments businesses carve out includes: strategic flexibility for organic investments, partnerships and M&A, increased visibility. Management maintains an omni channel approach (NFC, e-commerce, cloud) in the segment which provides differentiation vs. peers.
4) About 60% of payments revenues are from the Payment and transaction processing segment. This is expected to grow at a low single-digit growth rate driven by GDP growth and increasing volumes, however, negated by pricing decline. Growth drivers include regulations including SEPA.
5) About 40% of payments revenues are derived from the merchant payment services. This is expected to grow at high single digit/double digit driven by the structural growth opportunity related to mobile technologies, strong product set (12 new products launched in 2012) and focused investments in brand awareness, sales.
6) M&A remains a key element of strategy with a focus on payments acquisitions in Europe and US expansion through buyout of captive units in managed services. »[/cleeng_content]

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