Sees FY25 adj EBIT margin around 6.5% (Il Sole 24 Ore Radiocor) - Paris, 08 May - Alstom said it was recommending not to pay a dividend on 2023/24 results.

For 2024/25 it is targeting organic sales growth of around 5% and an adjusted EBIT margin of 6.5%, with the margin development more weighed to the second half.

It is targeting free cash flow generation of 300-500 million euros with a negative FCF of 300-500 million in the first half, after a negative 557 million in 2023/24, at the upper range of the revised guidance.

Alstom reiterated that it was committed to a conservative financial policy and to protect its investment grade rating, in particular through a 2 billion inorganic deleveraging plan comprising 700 million euros of divestments, the issuance of 750 million euros in hybrid bonds with 50% equity content for Moody's to be executed no later than September 2024 subject to market conditions and AMF approval, and a 1 billion euro capital increase with preferential subscription rights to be executed also no later than September 2024 subject to market conditions and AMF approval.

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(RADIOCOR) 08-05-24 08:52:50 (0193) 5 NNNN