Sound results for Alstom in 2015/16
- 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, Alstoms Chairman & Chief Executive Officer.
Full version of the Press release below in pdf.