Alstom's revenue and market capitalization

  •   DEHOUI Lionel

Founded in 1928, Alstom is a French company operating in the transport sector, mainly railways. The group is present in over 60 countries. It has almost 38,900 employees worldwide. Its financial year 2021/2022 covered the period from 1 April 2021 to 31 March 2022. Overall, the group's business has maintained a good level during this financial year. The following details the company's results for 2021/2022.

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Alstom's revenue and market capitalization
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Alstom's sales in H2 and for the year 2021/2022

In the last six months of the 2021/2022 financial year, the train manufacturer Alstom's sales reached €8.028 billion, compared to €7.443 billion in the first half of the year (H1). 7.443 billion in the first half of the year (H1), an increase of 7.9% over a six-month period. 

For the financial year 2021/2022, the Alstom Group achieved sales of €15.5 billion, compared to €8.8 billion in 2020/21. It therefore reports 11% growth on a like-for-like New Alstom basis.

 

Details of sales in H2 2021/2022 by group activity

In the second half of 2021/2022, the Rolling Stock business generated sales of €4.362 billion. 4.362 billion, an increase of 2% compared to H1-2021/2022. This increase was driven by the gradual ramp-up of projects illustrating the focus on stability.

1.186 billion for the second half of 2021/2022. 1.186 billion for the second half of 2021/2022, up 10% on the previous half. This performance was partly driven by the good level of project execution in the Americas.

It is also due to the strong commercial dynamics noted in Europe (particularly in Germany) during this half-year. From 1 October 2021 to 31 March 2022, Services revenue increased by a significant 18% to €1.847 billion.

633 million in H2 2021/2022. 633 million in H2 2021/2022, an increase of 21% over six months. This is a remarkable increase driven by the contribution of new orders to revenue such as Tren Maya and the monorail project in Thailand.

 

Annual performance of other financial indicators in 2021/2022

For the full year 2021/2022, the Alstom Group recorded adjusted operating profit of €767 million, compared to €645 million in 2020/21. 645 million in 2020/21. It grew by 19% year-on-year. The operating margin was 5%, compared to 7.3% in the previous year.

For the 2022/2022 financial year, the rail equipment supplier recorded an adjusted net loss of €173 million, compared with an adjusted net profit of €301 million a year earlier.

 

About orders in 2021/2022

For the full year 2021/2022, Alstom's order intake reached €19.3 billion. This represents an increase of 33% on a like-for-like New Alstom basis.

As a reminder, a year earlier, order intake amounted to €9.1 billion. This result was recorded in a difficult market context marked by the Covid-19 health crisis. On Alstom's historical perimeter, the ratio of orders to sales was solid, above 1.

On a company basis, this indicator reached 1.25 in 2021/2022. At the end of the year, the group's order book stood at EUR 81 billion, compared with EUR 74.5 billion a year earlier. Its contribution to the company's turnover is expected to be between €35 and €37 billion over the next three years.

 

Financial structure at the end of March 2022

The Alstom group has unveiled a solid balance sheet with regard to its financial situation. For the financial year 2021/2022, the company's free cash flow was negative at €992 million, compared to €703 million for the previous year. In H2 2021/2022, the group recorded a strong positive cash generation estimated at EUR 469 million.

At the end of 2021/2022, available cash and cash equivalents amount to €810 million, compared to €1.250 billion at the end of March 2021. Also, the industrial group benefits from €4.250 billion linked to two revolving credit facilities. These are undrawn at the end of the financial year at the end of March 2022.

This provides the company with solid liquidity. As a result of these facilities, the company's available liquidity amounted to EUR 5.060 billion.

At 31 March 2022, Alstom had net debt of €2.085 billion, compared to €899 million of net debt a year earlier. This includes bonds with favourable maturities and cost profiles. Also, they are without financial covenants.

At the end of the financial year 2021/2022, the group's equity amounts to 9.024 billion euros, compared to 9.117 billion euros at the end of the financial year 2020/21.

 

Alstom's dividend and market capitalisation

The company's Annual General Meeting of Shareholders was held on 12 July 2022. During this meeting, Alstom's Board of Directors proposed the payment of a dividend of €0.25 per share for the financial year 2021/2022.

This represents a payout ratio of 35% of adjusted net profit before impairment of the investment in TMH. In addition, the dividend paid for the 2021/2022 financial year has remained stable compared to that distributed for the previous financial year.

In addition, the Alstom Group is active in the equity markets. Alstom's share is one of the most closely watched by investors on the stock markets. The company is listed on Euronext on the Paris stock exchange. Since 21 September 2020, it has been included in the CAC 40 stock market index. As of May 2022, its market capitalisation is estimated to be around EUR 8 billion.

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