Alstom reported a 15% yoy decline in the H1 FY20/21 top-line (mainly impacted by the Q1 FY20/21 lockdowns), but its operational efficiencies/better project execution restricted the fall in the operating margin. However, the FCF generation was weak. While the order-intake was also soft, management remains confident about a recovery in demand, and has maintained its >1 book-to-bill target. The mid-term guidance has also been reiterated. Moreover, it now expects to close the acquisition of Bombardi ....
12 Nov 2020
Despite soft H1 FY20/21, mid-term targets confirmed
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Despite soft H1 FY20/21, mid-term targets confirmed
Alstom reported a 15% yoy decline in the H1 FY20/21 top-line (mainly impacted by the Q1 FY20/21 lockdowns), but its operational efficiencies/better project execution restricted the fall in the operating margin. However, the FCF generation was weak. While the order-intake was also soft, management remains confident about a recovery in demand, and has maintained its >1 book-to-bill target. The mid-term guidance has also been reiterated. Moreover, it now expects to close the acquisition of Bombardi ....