FY net loss 309 mln eur vs 132 mln loss (Il Sole 24 Ore Radiocor) - Paris, 08 May - French rail specialist Alstom said that in the fiscal year its sales rose a reported 6.7% and an organic 9.4% to 17.6 billion euros while order intake fell 8% to 18.9 billion mainly reflecting a comparison effect following the landmark contract secured last year in Germany.

Adjusted EBIT rose 17% to 997 million euros with the margin improving to 5.7% from 5.2%, benefiting from further synergies, a steady reduction of non-performing legacy contracts sales for an impact, an increased volume and favourable mix delivering gross margin expansion, partially offset by the negative gross margin impact related to the legacy portfolio deviations.

Alstom recorded restructuring and rationalisation charges of 147 million euros mainly related to the reduction of overhead costs and adaptation of the production setup.

Alstom's EBIT before amortisation and impairment of assets exclusively valued when determining the purchase price allocation (PPA) stood at 356 million euros compared with 366 million for the last fiscal year.

Adjusted net profit, representing the group's share of net profit from continued operations excluding PPA net of tax, amounts to 44 million for the fiscal year 2023/24 compared with 292 million the previous year. The bottom line was a negative 309 million compared with a 132 million loss the previous year.

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(RADIOCOR) 08-05-24 08:29:26 (0171) 5 NNNN