Report
Delphine Brault ...
  • Quentin Borie

Alstom : A solid H1 2024-25 marking another improvement in all of the KPIs

>H1 2024-25 FCF well above forecasts - Yesterday evening, Alstom published its H1 2024-25 results. Order intake was close to € 11bn (book-to-bill of 1.25x), helping the backlog to exceed € 94bn with a 30bp improvement in the associated gross margin to 17.8%. For Q2 alone, the book-to-bill was 1.67x. The group notably booked three major orders in Q2 for a total of € 5.1bn (€ 670m for a signalling contract in Australia, € 3.6bn for rolling stock and services in Germany ...
Underlying
Alstom SA

Alstom serves the power generation and transmission markets, and rail transport market. Co.'s activities are divided into four sectors: the Thermal Power Sector (Co. offers power generation solutions using gas or coal to services including plant modernization, maintenance and operational support); the Renewable Power sector offers EPC solutions, turbines and generators, control equipment and maintenance for Hydropower and Wind power activities; the Grid Sector designs and manufactures equipment and turnkey solutions to manage power grids and transmit electricity from the power plant to the large end-user; and the Transport Sector provides rail transport products, systems and services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Brault

Quentin Borie

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