LEVALLOIS-PERRET (dpa-AFX) - Alstom SA (AOMFF.PK, ALS.L), a French rolling stock maker, reported Wednesday that its fiscal 2023 net loss (Group share) was 132 million euros, narrower than last year's loss of 581 million euros.
For the full year, adjusted net profit was 292 million euros, compared to last year's loss of 173 million euros.
Adjusted EBIT grew 11 percent from last year to 852 million euros. Adjusted EBIT margin improved to 5.2 percent from 5 percent a year ago.
Sales increased 7 percent to 16.51 billion euros from last year's 15.47 billion euros. Organically, sales grew 5 percent.
Orders received totaled 20.70 billion euros, up 7 percent on a reported basis, and up 5 percent organically. Orders backlog grew 8 percent to 87.39 billion euros.
Further, the Board of Directors, in its meeting of May 9, decided to propose a dividend distribution of 0.25 euro per share at the next Shareholders' meeting on July 11.
Looking ahead for fiscal 2024, the company projects adjusted EBIT Margin around 6 percent, and sales growth consistent with mid-term guidance of Compound Annual Growth Rate or CAGR above 5 percent.
Further, Alstom said it will reach its mid-term adjusted EBIT margin view of 8 percent to 9 percent in fiscal 2026, one year later than previously envisioned, as a result mainly of the new macroeconomic environment in particular the effect of inflation.
Alstom is aiming at sales CAGR over 5 percent between fiscal 2021 and fiscal 2026 supported by strong market momentum and unparalleled 87.4 billion euros backlog as of 31 March 2023, securing sales of around 38 billion euros to 40 billion euros over the next three years.
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