Alstom releases financial results of Orders and sales for the first nine months of 2022/23

On a regional level, Europe accounted for the majority of the orders, i.e. 55% of the Group total.

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Alstom Train
Alstom Train/ Representational Image

NEW DELHI (Metro Rail news): Over the third quarter of 2022/23 (from 1 October to 31 December 2022), Alstom booked €5.2 billion of orders. The Group’s sales reached €4.2 billion in the quarter.

For the first nine months of 2022/23 (from 1 April to 31 December 2022), Alstom’s order intake reached €15.2 billion. The Group sales increased by 8% over 9 months reaching €12.3 billion, in line with the Group’s targeted trajectory.

  • During the third quarter of 2022/23 (from 1 October to 31 December 2022), Alstom recorded €5,152 million in orders, demonstrating a sustained commercial momentum and supporting our trajectory. Over three months, orders for Services, Signalling and Systems reached 58% of the total order intake.
  • Over the third quarter of 2022/23 (from 1 October to 31 December 2022), Alstom booked €5.2 billion of orders. The Group’s sales reached €4.2 billion in the quarter.
  • On a regional level, Europe accounted for the majority of the orders, i.e. 55% of the Group total. Alstom was awarded a contract worth nearly €370 million to supply 49 additional Coradia Stream high-capacity trains to Renfe in Spain. These trains supplement the 152 trains already ordered in March 2021. The two orders are totalling a value of €1.8 billion for 201 trains.
  • Alstom also signed a further order with Irish Rail (IE) for 18 more five-car X’trapolis trains and an extension to the 15-year Technical Support and Spares Supply agreement under the ten-year framework agreement announced in December 2021. This further order, valued at around €160 million, will see 18 battery-electric multiple units (BEMUs) added to the initial firm order of 19 five-car X’trapolis trains signed in 2021.
  • In the UK, following the successful full completion of the Elizabeth line in London during Q3 and the final acceptance of the last trains, Alstom have re-aligned the order intake in line with the long-term partnership and contract signed in 2014 with Transport for London for a 32-year contractual concession period up to 2046. The value of the Services order recognized in this quarter was €1.1bn.
  • In Africa/Middle East/Central Asia, the Group received an additional order from Kazakhstan Railways (KTZ) for the supply of next generation locomotives and related maintenance support. This is the 6th batch of options released from the initial contract signed in 2010.
  • In the Asia/Pacific region, Alstom has been awarded a contract worth €312 million to design, manufacture, supply, test, commission 312 standard gauge metro cars for Delhi Metro Phase IV expansion, by the Delhi Metro Rail Corporation (DMRC).
  • Sales were €4,223 million in Q3 2022/23 versus €3,916 million in Q3 2021/22 (+8%). Over 9 months, sales stand at €12,271, up 8% from last year.
  • Sales in Rolling Stock in the quarter stood at €2,307 million, up 6% versus Q2 2022/23, reflecting projects ramping-up following stabilization efforts. After 9 months, Rolling Stock sales reached €6,667 million, up 3% versus last year.
  • Signalling sales stood at €1,767 million for the 9 months, up 8% versus last year, in line with the announced trajectory.
  • In Systems, Alstom reported €1,062 million sales for the 9 months, up 29% vs. last year, on the back of the ramp-up in Egypt and Canada notably, and despite the end of some projects during this quarter notably in Saudi Arabia.
  • Services delivered a sustained performance in Q3 2022/23 and reported €2,775 million of sales over 9 months, up 15% versus last year.

Key projects deliveries:

  • In October 2022, Alstom successfully supplied, tested and commissioned the signalling, centralised control and driving modes for Cairo Metro Line 3 – Phase 3A with a total of 4 stations from Attaba to Kit Kat. Cairo Metro Line 3 traffic improvements on phase 3A enables over 30,000 commuters to travel per hour, per direction.
  • Also in October, Alstom delivered complete infrastructure works for all the six stations of the Haidari-Piraeus extension of Line 3 of the Athens metro network, as members of Avax – Ghella – Alstom consortium. The new extended line with three new stations will serve 130,000 passengers daily. Additionally, Travel time between the Port of Piraeus and Venizelos International Airport was reduced from 70 to 55 minutes.
  • In November 2022, Alstom demonstrated the highest grade of automation on a shunting locomotive near Breda, the Netherlands, in partnership with Dutch infrastructure manager ProRail and Belgian rail freight operator Lineas. This grade of automation, known as GoA4, means fully automated starting, driving, stopping, and the handling of unanticipated obstacles or events without the direct involvement of any on-train staff during shunting activities.
  • In December 2022, Alstom successfully delivered a full turnkey solution for the extension to the PHX Sky Train automated people mover (APM) system at Phoenix Sky Harbor International Airport, providing airport connections to the light rail train system and the rental car centre. Expanded airport transit provides increased passenger comfort, experience, and connectivity, while reducing passenger wait time and curbside airport congestion.
  • After the final acceptance of the last trains during the first half of 2022/23, Alstom achieved the full completion of the Elizabeth Line in London during the third quarter 2022/23.

Orders received:

  • A new order is recognised as an order received only when the contract creates enforceable obligations between the Group and its customer. When this condition is met, the order is recognised at the contract value.
  • If the contract is denominated in a currency other than the functional currency of the reporting unit, the Group requires the immediate elimination of currency exposure using forward currency sales. Orders are then measured using the spot rate at inception of hedging instruments.

Mr. Henri Poupart-Lafarge, Alstom Chairman and Chief Executive Officer said, “Alstom’s third quarter was positive. We saw continued commercial momentum, marked by the exercise of new options on several frame agreements, notably in Spain, Ireland and in Kazakhstan. This was coupled by a strong performance in Services, most notably in the UK. The market environment remains positive with customers confirming their investment plans in all regions. Our focus on execution is paying off with sales increasing, in line with our announced trajectory. Confident in the resilience of our business model, we confirm our short and mid-term targets.”

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