Atos Group has reported a gradual start to FY2026, with Q1 reported revenues of €1,739m, or €1,640m once divested and soon-to-be-divested activities (Advanced Computing, South America and Ideal GRP) are stripped out. Year-on-year, organic revenue declined c.11%. Management has confirmed full-year guidance while narrowing the organic revenue growth range to -1% to -5%, with positive growth now off the table. Investors reacted negatively on first reading, with the share price falling around 6.4% to a low of €34.88 in early trading, before recovering to trade up around 3.6% at the time of writing.

The softer-than-expected revenue performance partly reflects deliberate exits from low-margin contracts, which account for around 3 percentage points of the organic decline. The bigger concern is North America, which fell 26.9% organically, with clients in wait-and-see mode amid macroeconomic volatility. It is a pattern familiar to anyone following Mastek’s results yesterday

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