Orders fall but better than expected results for Alstom
Posted by admin | Under business opportunity, connection, management, plans, work Tuesday Jul 20, 2010Alstom reported a sharp drop in orders received during the first quarter of the year, major projects that are difficult to find in the electrical field, but its sales came out slightly beyond expectations over the period.
The specialist in energy infrastructure and transportation have made the April-June quarter sales of 4.74 billion euros, down 1% from one year to another as reported and down 5 % as organic.
The nine analysts polled by Reuters expected the drafting of an average AC4.67 billion.
"The turnover (the division) Transportation progresses, while the (Energy Division) Power began, as expected, lower following a sharp drop in orders during the last year," said CEO of Alstom, Patrick Kron, in a statement.
If he observes a good place new orders for medium and small sizes on the three "major projects are difficult to reach because (…) customers continue to shift their investments in new power stations," Has added.
Orders received by Alstom have dropped by 36% to 3.07 billion euros in the first quarter on a reported basis and 38% as organic.
The group added that its backlog was still unchanged at 42 billion euros at June 30, thanks to a positive currency effect of 1.3 billion euros and represented 27 months of turnover business.
It also confirmed its forecast for an operating margin of between 7 and 8% for the year 2010/2011 and the next one, "based on a performance contract and a gradual recovery in demand. "
The action Alstom closed Monday at 36.85 euros, giving a market capitalization of nearly 11 billion euros. Since the beginning of the year, the stock has lost about 25% of its value, after a gain of nearly 17% throughout 2009.