Train maker Alstom confirms targets after 4% order increase in Q1
Reuters
Published Jul 25, 2023 06:33
Updated Jul 25, 2023 07:31
(Reuters) -France's Alstom (EPA:ALSO) on Tuesday confirmed its short and mid-term targets after reporting a 4.3% rise in its first-quarter revenue, helped by new railway system projects in the Philippines and Romania.
Alstom, which makes trains and signalling systems for urban and regional rail networks, said it generated sales of 4.18 billion euros ($4.63 billion) in the three months to June 30.
Orders fell 30.8% to 3.875 billion euros as the group had signed a landmark contract over nearly 2.5 billion euros for a German network in last year's period.
However, Alstom on Monday signed a near 900 million euro deal with the German state of Schleswig-Holstein's transport association to supply 40 Coradia Stream high-capacity trains. The order also includes a 30-year train maintenance agreement.
The maker of France's TGV trains also announced on Monday that it will build 50 multi-system locomotives, worth 260 million euros, for railway vehicle leasing company Railpool.
"The market environment remains positive with a large pipeline of opportunities over the next three years," said Chief Executive Henri Poupart-Lafarge in a statement.
Alstom said it still expects an adjusted operating profit (EBIT) margin of 6% and a "significantly positive" free cash flow for the twelve months to the end of March 2024.
($1 = 0.9034 euros)
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Written By: Reuters
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