- Record commercial year
- Very strong operational performance
- Strengthened balance sheet
- 2020 objectives confirmed
Between 1 April 2015 and 31 March 2016, Alstom achieved a record commercial performance with orders received and backlog at respectively €10.6 billion and €30.4 billion. Over the same period, sales were up 12% (7% organically), amounting to €6.9 billion. The adjusted EBIT increased to €366 million, 23% above last year, leading to an adjusted EBIT margin of 5.3%.
Net income (Group share) reached €3.0 billion, benefitting from the sales of Energy activities to General Electric and after impact of exceptional impairments mainly in France.
Alstom benefits today from a very strong balance sheet. The net debt significantly decreased to €0.2 billion on 31 March 2016 compared to €3.1 billion on 31 March 2015. Equity amounted to €3.3 billion at 31 March 2016.
Following the cash return to shareholders of €3.2 billion through the public share buy-back offer, the Board of Directors will propose no dividend distribution at the next Annual General Meeting.
“2015/16 is the second record commercial year in a row for Alstom, including a major e-Locos project in India and successes across all regions and product lines. Sales growth exceeded expectations with above 5 % average organic growth over the past four years. The adjusted EBIT was up by over 20%. Balance sheet is strengthened by the transaction with General Electric. The implementation of our strategy is on track allowing us to confirm our 2020 objectives.”, said Henri Poupart-Lafarge, Alstom’s Chairman & Chief Executive Officer.
Full version of the Press release below in pdf.