Alstom reported robust H1 FY22/23 figures, which were ahead of consensus and our expectations. The strong execution of the order backlog, synergies from the Bombardier integration and a favourable sales mix, drove the beat on profitability and FCF. The management also provided additional colour on the FY22/23 guidance for the adjusted EBIT margin and FCF, which were ahead of consensus estimates. Clearly the share price reacted positively (closing at +7.2%). We maintain our positive stance on the ....
17 Nov 2022
Strong H1 FY22/23 performance; reassuring outlook
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Strong H1 FY22/23 performance; reassuring outlook
Alstom reported robust H1 FY22/23 figures, which were ahead of consensus and our expectations. The strong execution of the order backlog, synergies from the Bombardier integration and a favourable sales mix, drove the beat on profitability and FCF. The management also provided additional colour on the FY22/23 guidance for the adjusted EBIT margin and FCF, which were ahead of consensus estimates. Clearly the share price reacted positively (closing at +7.2%). We maintain our positive stance on the ....