The railway manufacturer Alstom saw its turnover and its order intake increase in the third quarter of its staggered financial year, allowing it to post a record order book and confirm its forecasts.
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Quarterly revenue increased by 5.2% to 3.916 billion euros and order intake by 4.8% to 4.576 billion, in pro forma figures including Bombardier Transport, acquired at the end of January, according to a press release published Thursday. .
"During the third quarter, Europe was the most dynamic region commercially
," observed CEO Henri Poupart-Lafarge.
"Our turnover increased as we had announced, thanks to the ramp-up of production and the stabilization of rolling stock projects (Bombardier contracts which posed problems, editor's note) as well as a strong performance of the Services activity”,
he added, quoted in the press release.
Over the first nine months of its financial year (April-December), Alstom's pro forma sales increased by 11% to 11.4 billion euros and order intake by 47% to 14.302 billion.
Europe contributed 62% of sales and 68% of orders, followed by the Americas and the Asia/Pacific region.
Rolling stock accounts for just over half of sales.
Nearly 80 billion euros in orders
The order book of the French group, "unmatched", reached 77.8 billion euros as of December 31.
“Alstom is making solid progress, taking advantage of strong growth momentum.
With our expanded scope and portfolio, we are building a string of successes in a buoyant market environment, fueled by large-scale investments in sustainable mobility,”
explained Mr. Poupart-Lafarge.
For the full year 2021/22 - excluding disruptions in the global economy or significant shortages in the supply chain - Alstom still expects an order-to-sales ratio above 1, an increase in sales of the first in the second half, an increase in operating income and positive cash flow.
The medium-term outlook set out in July is confirmed, with in particular an average annual growth rate in turnover of more than 5% by 2024/25, then an adjusted operating margin of between 8 and 10% from this due date.
Alstom also promises a dividend distribution rate of between 25 and 35%.
In Europe, the group intends to adjust its production capacity in Germany, focusing more on signaling and services.
As part of its commitments to the European Commission to obtain the green light for the acquisition of Bombardier Transport, it intends to finalize in the first half of its 2022/23 financial year the sale to the Spanish CAF of the Alsatian site of Reichshoffen and the train platforms. Coradia Polyvalent (called Regiolis by SNCF) and Talent3.
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The sale to Japanese Hitachi Rail of activities related to Bombardier Transportation's contribution to the V300 Zefiro high-speed train could take place
"during the first half of calendar year 2022",
according to the press release.