French rolling stock maker Alstom SA (AOMFF.PK,ALS.L) reported Wednesday that first-half net profit (Group share) was 1 million euros, compared to last year’s loss of 21 million euros.<\/p>\n
Adjusted net profit amounted to 174 million euros, compared to 179 million euros in the same period last fiscal year.<\/p>\n
Alstom’s adjusted EBIT was 438 million euros, equivalent to a 5.2 percent aEBIT margin, compared to prior year’s 397 million euros. <\/p>\n
The Group sales reached 8.44 billion euros, up from prior year’s 8.05 billion euros.<\/p>\n
Alstom booked 8.45 billion of orders in the period, down 16 percent from last year’s 10.07 billion euros.<\/p>\n
Looking ahead for fiscal 2024, the company projects organic sales growth of above 5 percent, and aEBIT margin around 6 percent.<\/p>\n
The company also confirmed its mid-term objectives.<\/p>\n
Further, Alstom initiated a commercial and operational efficiency, costs saving plan to reduce its leverage after negative cash flow.<\/p>\n
The company plans simplification of operational setup, including around 1,500 job cuts, representing close to 10 percent of total S&A positions.<\/p>\n
At the next Shareholders’ General Meeting in July 2024, the Board will propose Philippe Petitcolin, former CEO of Safran, to be elected as a Board Member, then Chairman of the Board.<\/p>\n
As a consequence, the role of Chairman and CEO will then be dissociated, and Henri Poupart-Lafarge will keep the CEO role.<\/p>\n
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