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Sustainable mobility promoter Alstom on Wednesday reported an over three-fold rise in its net income to 563 million euros for the half-year ended September 2018.
The group had clocked a net income of 177 million euros for the corresponding period of the previous fiscal.
“Net income (Group share) was exceptionally high at 563 million euros. During the first half of fiscal year 2018/19, free cash flow amounted to 172 million euros,” the company said in a filing.
It said between April 1, 2018 and September 30, 2018, Alstom booked 7.1 billion euros of orders leading to a new record-breaking backlog of 38.1 billion euros.
Its sales reached 4 billion euros, it said.
“Alstom achieved excellent results in this first half with breakthrough commercial successes, including new generation of very high-speed trains in France and metro system project in Canada. The new record-breaking backlog provides strong visibility on future sales and our outstanding operational performance reflects the solid projects execution,” said Henri Poupart-Lafarge, Alstom Chairman and Chief Executive Officer.
He added, “In the meantime, we continue to progress on the combination with Siemens Mobility to create substantial value for the mobility sector, our customers, every day users of our transport solutions as well as for our employees and our shareholders.”
The company said it invested 85 million euros in capital expenditures in the first half 2018/19. As end of September 2018, the cumulated transformation capex stood at 212 million euros, out of 300 million euros, with the progress in sites’ construction in South Africa, in India and the Hornell site extension in the United States.
The group said it had a gross cash in hand of 1,397 million euros at the end of September 2018 and a fully undrawn credit line of 400 million euros.
The statement said Alstom net debt amounted to 280 million euros on September 30, 2018, compared to 255 million euros on March 31, 2018.
Alstom is a world leader in integrated transport systems. The company recorded sales of 7.3 billion and booked 7.2 billion euros of orders in the 2017/18 fiscal year.
Headquartered in France, Alstom is present in over 60 countries and employs 34,500 people.
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