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Alstom records 14 percent rise in quarterly sales
Alstom records 14 percent rise in quarterly sales
Alstom Signaling Inc. last week reported a first-quarter increase in booked orders and sales.
Sales for the quarter ended June 30 increased 14 percent to 2.02 billion euros, or roughly $2.35 billion. The company’s orders increased 38 percent from a year ago.
“Alstom is starting the financial year with sound commercial momentum and a strong sales level,” said Alstom Chairman and CEO Henri Poupart-Lafarge. “In particular, we are proud to have won the driverless light metro system for Montreal, one of the major urban systems projects this year.”
Poupart-Lafarge said the sales growth was driven primarily by progress made within Middle East system projects.
Alstom is a French multinational company operating worldwide in rail transport markets, active in the fields of passenger transportation, signaling and locomotives. The company employs 34,500 people in 60 countries, including some 380 in Rochester.
The company reiterated its full year outlook for sales of roughly 8 billion euros, with a 7 percent profit margin.
In November last year, Alstom announced plans to transfer its hardware equipment manufacturing from its Rochester facility to other U.S. sites, eliminating 80 jobs in the process. The layoffs were expected to be completed in March this year.
Alstom last September announced a merger with Germany’s Siemens AG, a supplier of power generation and infrastructure solutions. The two companies filed the application for merger control clearance with the European Commission on June 8, and on July 17 Alstom shareholders approved the merger. Alstom officials expect that deal to close in the first half of 2019.
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