French speed-train maker Alstom SA (AOMFF.PK,ALS.L) reported that its fiscal 2019 net income Group share rose to 681 million euros from 365 million euros last year, including exceptional net income from discontinued operations of 248 million euros.
Alstom delivered an adjusted EBIT of 570 million euros, a 44 percent increase from 397 million euros in the previous year. The adjusted EBIT margin reached 7.1 percent, compared to 5.4 percent a year ago.
The continued improvement in adjusted EBIT was driven by volume increase, efficiencies in operational performance and a contained cost structure.
Sales for the year grew 10 percent to 8.07 billion euros from prior year's 7.35 billion euros. Sales climbed 11 percent organically.
Alstom booked 12.11 billion euros of orders in the year, up 69 percent from 7.18 billion euros a year ago. This includes two major contracts with the renewal of the very high-speed train fleet in France and the metro system project for Montreal. Orders received grew 71 percent organically.
Orders backlog was 40.48 billion euros, up 15 percent on a reported basis and up 13 percent organically.
Further, Alstom's board of directors decided to propose a dividend of 5.50 euros per share at the Shareholders' Meeting planned on July 10, given net cash position at 31 March 2019, positively impacted by the sales of interests of the three Energy Joint Ventures to General Electric for 2.59 billion euros.
Alstom said its outlook will be provided during a Capital Markets Day to be hosted in Paris on June 24, 2019.
For comments and feedback contact: editorial@rttnews.com
Business News