Alstom’s share is up 10% as it announced that sales more than doubled in the first half of the year as orders increased.
Sales of the French train company increased to 7.44 billion euros for the first half to the end of September, from 3.52 billion euros last year.
Second-quarter sales stood at 3.74 billion euros, 2% higher than estimates, Citigroup analysts said.
The bank noted that Alstom’s negative cash flows in the first half of € 1.46 billion were 15% higher than expected, thanks to lower-than-expected working capital and better than the company’s estimates for negative cash flows 1, 6-1.9 billion euros.
The French company stressed that it received orders of 9.73 billion euros in the first half, more than the corresponding 2.65 billion euros in the previous year and fueled by strong demand in Europe, including 1.4 billion euros in Denmark .
The outstanding balance of the first half amounted to 76.36 billion euros, 91% higher than the previous year.
Adjusted earnings before taxes and interest amounted to 335 million euros in the period April-September, showing an increase from 2.63 million euros for the corresponding period last year.
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Source From: Capital
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