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Alstom H1 Net Income Group Share Rises; Sales Up 23% On Organic Basis

Alstom (AOMFF.PK,ALS.L) reported first-half net income (Group share) at 563 million euros compared to 177 million euros, prior year. The company noted that the net income (Group share) included an exceptional net income from discontinued operations of 245 million euros, for the quarter. Net profit from continuing operations to equity holders of the parent increased to 318 million euros from 169 million euros, prior year. Adjusted EBIT was 285 million euros corresponding to 7.1% margin in first half 2018/19, compared to 180 million euros corresponding 5.4% margin the previous year. The company said the improvement was driven by a significant volume increase and on-going initiatives for operational excellence, while portfolio mix remained stable.

First-half sales were at 4.01 billion euros, up 23% on an organic basis. Signalling, systems and services represented 57% of sales in the first half of 2018/19.

The backlog reached a new record high and amounted to 38.11 billion euros on 30 September 2018. Between 1 April 2018 and 30 September 2018, Alstom booked 7.1 billion euros of orders. During the first half of fiscal year 2018/19, free cash flow amounted to 172 million euros.

For fiscal 2018/19, the company expects sales to reach around 8 billion euros and adjusted EBIT margin around 7%.

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