Annual Results 2004/2005
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ALSTOM's recovery is clearly reflected in the FY05/05
results:
Orders received: 15.8 billion, up 15%, on a
comparable basis from FY03/04
Operating income: 550 million, multiplied by three,
versus 168 million in the previous fiscal year,
operating margin up 1.2% in FY03/04 to 4.0% in FY04/05
Net losses: cut in half to 0.68 billion, in spite of
significant non-recurring charges
Net debt: reduced to 1.4 billion from 3.7 billion
Free Cash Flow: showing strong improvement at -170
million, versus -1007 million in the last fiscal year
Liquidity: reinforced due to the financial consolidation
undertaken during the fiscal year
2005/06 objectives confirmed:
6% operting margin leading to a return to profitatbility
Positive Free Cash Flow with continuing debt reduction
Commenting on ALSTOM's orders and sales, Patrick Kron,
Chairman and Chief Executive Officer, said:
'The results we are presenting today clearly demonstrate the
ongoing recovery of ALSTOM. All key indicators are in line
with, or better than the guidance previously given. These
results enable us to confirm the FY 2005/06 targets announced
in March 2003 when we launched our recovery plan: an operating
margin of 6% leading to a return to profitability and a
positive Free Cash Flow.'