LEVALLOIS-PERRET (dpa-AFX) - French speed-train maker Alstom SA (AOMFF.PK, ALS.L) reported Thursday that its first-quarter sales increased 14 percent to 2.01 billion euros from last year's restated 1.77 billion euros. Sales rose 17 percent organically.
The company attributed the sales growth mainly to system projects in the Middle East, PRASA project in South Africa and regional train deliveries in Italy.
Over the first quarter, Alstom booked 2.64 billion euros of orders, up 38 percent from 1.91 billion euros of orders in the same period last year.
The latest orders include a driverless light metro system for Montreal, additional Citadis Dualis tram-trains in France, a long-term rolling stock and signalling maintenance contract for Sydney metro, a national on-board train control system in Norway and Citadis trams for Frankfurt.
Looking ahead to fiscal year 2018/19, Alstom affirmed its outlook for sales to reach around 8 billion euros and adjusted EBIT margin to reach up to 7 percent, at constant perimeter and exchange rates.
In the medium term, Alstom said it should continue to outperform the market growth, gradually improve profitability, and improve cash generation, with possible volatility over some short periods.
Alstom said its proposed combination with Siemens Mobility, including its rail traction drive business, has reached significant milestones in the past months. Alstom and Siemens jointly filed the application for merger control clearance with the European Commission on 8 June 2018.
On 17 July, Alstom shareholders approved the proposed combination of Alstom with Siemens Mobility. Closing of the transaction is expected in the first half of 2019.
Copyright RTT News/dpa-AFX