Alstom said first-quarter sales rose but orders fell as inflation and spare parts shortages caused problems.
The French train maker’s sales rose 8% on a reported basis to €4bn, although orders fell 13% to €5.5bn.
The French company said it saw strong orders across its business, with Europe maintaining the lion’s share of orders at 70% of the group’s total.
These include a German order worth up to 2.5 billion euros and an order for high-speed trains in Sweden worth about 650 million euros, Alstom said.
The company, however, pointed to a more complex macroeconomic environment, saying inflation is expected to weigh on profitability in fiscal 2023, which ends in March, and a shortfall in electronic components could create pressure on orders.
Alstom maintained its estimates for the year, including sales growth with a stable order backlog.
Source: Capital
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