Alstom sales up, order backlog at record high
Alstom has ended the annual accounting period 2021/22 with 15,5 billion euros in sales and a record backlog of 81 billion euros, the company’s fiscal year results released on Wednesday show.
Alstom recorded 19,3 billion euros in orders between April 1 2021 and March 31, which pushed its backlog to its record high. The company’s full-year sales were up 11 percent.
Alstom’s profit was eliminated by a non-cash impairment charge of its stake in Russia’s TMH, which leaves it in the red by 173 million euros. The adjusted net profit before the impairment charge came out at 268 million euros.
“Our fiscal year results are fully in line with our objectives, both in terms of financial and operational performance. Driven by a very positive market, the Group recorded in 2021/22 a strong order intake, reflecting its enlarged momentum, with significant wins in Europe but also in Latin America, in Taiwan and in Australia”, chairman and ceo Henri Poupart-Lafarge said in comments on the results.
With the integration of Bombardier Transportation well on track, Alstom expects the synergies to start paying off from 2024/25 onwards. For the time being it is forecasting 400 million euro annually, followed by 475-500 million euros from 2025/26 onwards.