{"id":134946,"date":"2023-11-15T07:58:58","date_gmt":"2023-11-15T07:58:58","guid":{"rendered":"https:\/\/myfintale.com\/?p=134946"},"modified":"2023-11-15T07:58:58","modified_gmt":"2023-11-15T07:58:58","slug":"alstom-turns-to-profit-in-h1-orders-down-sees-organic-sales-growth-in-fy24-to-cut-1500-jobs","status":"publish","type":"post","link":"https:\/\/myfintale.com\/economy\/alstom-turns-to-profit-in-h1-orders-down-sees-organic-sales-growth-in-fy24-to-cut-1500-jobs\/","title":{"rendered":"Alstom Turns To Profit In H1, Orders Down; Sees Organic Sales Growth In FY24; To Cut 1,500 Jobs"},"content":{"rendered":"

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

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/a><\/p>\n<\/div>","protected":false},"author":3,"featured_media":134945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\nAlstom Turns To Profit In H1, Orders Down; Sees Organic Sales Growth In FY24; To Cut 1,500 Jobs - my finance tale<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myfintale.com\/economy\/alstom-turns-to-profit-in-h1-orders-down-sees-organic-sales-growth-in-fy24-to-cut-1500-jobs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alstom Turns To Profit In H1, Orders Down; 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