Operational results for 2010/11 in line with guidance, marked increase of orders during the second half

Between 1 April 2010 and 31 March 2011, Alstom registered sales of 20.9 billion and an income from operations of 1,570 million, corresponding to an operating margin of 7.5%. The net result decreased to 462 million, due to the adverse impact of non-recurring charges. At 19.1 billion, orders were up from the low level of last year. After a trough in the first semester, a marked rebound of orders was achieved in the second one. In parallel, the free cash flow strongly recovered in the second half of 2010/11 with 447 million generated, as compared to the 963 million outflow in the first half.
 

At its next Annual General Meeting, Alstom will propose a dividend of 0.62 per share, after 1.24 last year.

Results of fiscal year 2010/11 showed an operational performance in line with expectations. After three semesters of low orders, the second half of 2010/11 was characterised by a strong commercial rebound with, as announced, a fourth quarter higher than the third one. This positive commercial evolution triggered a significant improvement of the cash generation in the second half of the year. The recovery in orders intake has been driven by numerous successes in emerging markets where demand is expected to continue to grow, while activity in the developed economies remains sluggish. This geographical shift of demand opens a new business phase for Alstom. To seize the upcoming opportunities while maintaining its competitiveness, the Group plans to adapt its geographical presence to the expected demand and strengthen its best-in-class offering. During the year, Alstom continued to build up its industrial footprint in the BRIC countries and signed several strategic partnerships in these key markets, while capacity adjustment plans were launched in Europe and North America. Research and development expenses have been maintained at a high level to keep the lead in technology. Encouraged by the commercial recovery of the second half 2010/11, the Group confirms that the operating margin of fiscal year 2011/12 should stay within the 7% to 8% bracket, said Patrick Kron, Alstoms Chairman and Chief Executive Officer.

For more information, click on downloadable pdf version of the release below.
 

• Press release full version
• Annual Results 2010/11 - Italian
• Annual Results 2010/11 - Russian
• Annual Results 2010/11 - German
• Annual Results 2010/11 - Portuguese
• Annual Results 2010/11 - Chinese
• Annual Results 2010/11 - Spanish
• Press presentation - annual results 4th May 2011

Fiscal Year 2010/11

Agenda