LEVALLOIS-PERRET (dpa-AFX) - Alstom (AOMFF.PK, ALS.L), a French rolling stock maker, reported that its sales for the first-quarter of fiscal year 2023/24 rose 4.3% to 4.18 billion euros from 4.00 billion euros in the prior year.
During the first quarter of 2023/24, Alstom recorded 3.88 billion euros in orders, compared to 5.60 billion euros over the same period last fiscal year. Last year's performance was mainly driven by a landmark contract awarded by Landesanstalt Schienenfahrzeuge Baden-Württemberg (SFBW) network in Germany for almost 2.5 billion euros.
The company confirmed its full year outlook and mid-term objectives.
Looking ahead for fiscal year 2023/24, the company still expects 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 adjusted EBIT margin between 8% and 10% from 2025/26 onwards.
Alstom is aiming at sales Compound Annual Growth Rate over 5% supported by strong market momentum and unparalleled 87 billion euros backlog as of 30 June 2023, securing sales of about 38 billion euros to 40 billion euros over the next three years.
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