LEVALLOIS-PERRET (dpa-AFX) - French speed-train maker Alstom SA (AOMFF.PK, ALS.L) on Wednesday reported that its first-half net income Group share fell to 227 million euros from 563 million euros in the prior-year period.
The company noted that the net income, Group share, for the latest period included net income from discontinued operations of 14 million euros, while the year-ago period's results included net income from discontinued operations of 245 million euros.
Net profit from continuing operations group share for the first half decreased to 213 million euros from 318 million euros in the prior-year period, which included several one-off items, in particular 100 million euros linked to the General Electric joint venture transaction.
Adjusted EBIT was 319 million euros and lead to an adjusted EBIT margin of 7.7 percent, compared to 303 million euros in the previous-year period.
First-half sales rose 3 percent to 4.14 billion euros from 4.01 billion euros last year and also increased 2 percent on an organic basis.
Between 1 April 2019 and 30 September 2019, Alstom booked 4.6 billion euros of orders, leading to a new record-breaking backlog of 41.3 billion euros.
This compares to the exceptional performance of 7.13 billion euros orders over the same period last year, which included 'TGV du Futur' and Montreal metro orders totaling 4.3 billion euros.
Looking ahead to the fiscal year 2019/20, Alstom noted that the business cycle with the finalization of major systems contracts and the evolution of large Rolling stock projects will lead to a sales and margin growth lower than the average objectives set in the context of AiM.
Up to March 2023, Alstom targets an average annual growth rate of sales around 5 percent over the period from 2019/20 to 2022/23, and adjusted EBIT margin to reach around 9 percent in 2022/23.
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