French speed-train maker Alstom SA (ALS.L,AOMFF.PK) reported net profit for fiscal year 2012/13 increased about 10% to 802 million euros, from last year's 732 million euros in the previous year. The latest-year result included 137 million euros of restructuring costs, mainly on Grid and Renewable Power, as well as a positive contribution from Transmashholding.
Income from operations for the year amounted to 1.463 billion euros, versus 1.406 billion euros in the previous year.
In 2012/13, the Group's sales stood at 20.3 billion euros, up 2% compared to last year. This increase was driven by Thermal Power (up 5%) and Transport (up 6%), both of which recovered from last year's trough.
During fiscal year 2012/13, Alstom registered 23.8 billion euros of orders, up 10% compared tolast year. Commercial activity remained robust in emerging countries which accounted for nearly half of total orders. Transport was particularly successful in Europe. On 31 March 2013, the backlog amounted to 53 billion euros, up 7% and representing 31 months of sales.
The company said that its Board has decided to propose a dividend of 0.84 euros per share at the next Annual General Meeting to be held on 2 July 2013, up 5% compared to last year. If approved, the dividend will be distributed on 9 July 2013.
Sales are expected to grow at a low single digit on an organic basis, operating margin to stay stable in 2013/14 and then gradually increase to around 8% over the next two to three years.
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