01 maj: Verdens måske fineste skjorter kommer til Danmark
07 maj: 10 aktier til den langsigtede portefølje
04-05-2012 18:40:00

UPDATE: Alstom's Outlook Leaves Trains-to-Turbine Maker's Investors Cold

Relateret indhold
Relateret debat
09 apr - 
Ligner en afvent langsigtet      https:/..
09 apr - 
Har også købt i 14,8 og vil supplere yderl..
08 apr - 
Har allerede købt i hhv . 14,5 og 13,0 ...........

-Alstom disappoints with 3-year sales and operating margin guidance

-Alstom shares fall 4.5%

-Alstom's orders rose 14% in the year through March

-Alstom's sales fell 5% in year to end-March while net profit rose 58%

(Rewrites, adds detail, background throughout)

By Inti Landauro

Of DOW JONES NEWSWIRES

PARIS -(Dow Jones)- Alstom SA (ALO.FR), the French engineering group best known as a maker of high-speed trains and heavy-duty power equipment, Friday said it expects only modest rises in revenue and profitability over the next three years despite a bulging order book. The news left investors cold.

Alstom said it expects revenue will rise 5% a year over the next three years after falling 5% in the year ending in March 2012. The company said its operating margin will rise by just 0.9 percentage point over the same period to 8%.

That's well below the profitability of comparable businesses at its nearest rivals like General Electric Co. (GE), Switzerland's ABB Ltd. (ABB.SK) and Siemens AG (SIE.XE). The German industrial giant's conventional power-generation business has an operating profit margin of around 18% compared with Alstom's equivalent power unit's 9.7% margin.

Alstom, 30.7%-owned by French family-controlled conglomerate Bouygues SA (EN.FR), reported a 14% rise in orders in the year to March 31 to EUR21.71 billion. Alstom's order backlog reached EUR49.27 billion at the end of March, up from EUR47.38 billion three months earlier, due largely to strong demand in emerging markets for its power equipment.

"The Group achieved a solid commercial performance, illustrated by a book-to-bill ratio above one for every quarter of the fiscal year," said Chief Executive Patrick Kron.

But given the order backlog, the company's guidance is a bit disappointing, David Vos, analyst at Sanford C. Bernstein said. Management is perhaps just being extra cautious, Vos said. "I think they don't want to over promise and then under deliver."

Alstom shares closed 4.3% lower at EUR26.27, faring worse than the Paris bourse's benchmark CAC-40 index which was down 1.9%.

Alstom's net profit rose 58% to EUR732 million in the year to end-March as there was no repeat of restructuring costs that weighed down the previous year's performance but that was below the EUR817 million median expectation of analysts polled by data provider FactSet. Revenue fell 5% to EUR19.93 billion. Operating profit fell 10% to EUR1.41 billion.

Revenue from Alstom's thermal power fell 10%, while sales of Alstom's train division fell 8%. These declines were partly offset by rising revenues at its wind turbine and power-grid businesses.

Alstom's performance reflects the lagged impact of the financial crisis on its earnings due to the time it takes to build railroads and power plants. Several projects were put on hold in late 2008 and 2009 in rich countries, hitting Alstom's orders at a time when it was still benefiting from business signed before the crisis struck. Only recently has demand taken off again, mostly in emerging markets which now represent 60% of Alstom's orders.

Though Alstom's outlook wasn't particularly inspiring, the year to end-March does looks like the trough in its business cycle, Alfred Glaser, analyst at French brokerage house Cheuvreux.

-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740; inti.landauro@dowjones.com

Order free Annual Report for Siemens AG

Visit http://djnweurope.ar.wilink.com/?ticker=DE0007236101 or call +44 (0)208 391 6028

Order free Annual Report for Bouygues SA

Visit http://djnweurope.ar.wilink.com/?ticker=FR0000120503 or call +44 (0)208 391 6028

Order free Annual Report for General Electric Co.

Visit http://djnweurope.ar.wilink.com/?ticker=US3696041033 or call +44 (0)208 391 6028

(END) Dow Jones Newswires

May 04, 2012 12:40 ET (16:40 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Bavarian: Udenlandske kapitalfonde øger væddemålet på kursfald

20-04-2018 16:36:15
En række kapitalfonde har onsdag og torsdag øget sine shortpositioner i biotekselskabet Bavarian Nordic. Det viser en række indberetninger til Finanstilsynet. Torsdag har Capital Partners øget sin shortposition til 0,62 pct. af aktierne fra 0,54 pct. Ligeledes har AHL Partners øget sin shortposition til 1,31 pct. af Bavarian-aktierne. Tidligere havde kapitalfonden shortet 1,20 pct.Arrow Street øge..

Vestas-konkurrent sælger flere vindmøller - men prispresset fortsætter

20-04-2018 12:49:56
Den amerikanske Vestas-konkurrent General Electric (GE) har solgt flere vindmøller i første kvartal, men selskabet melder om fortsat prispres i branchen. GE havde i de første tre måneder af 2018 en ordreindgang på 936 vindmøller mod 589 i samme periode sidste år. Selskabet oplyser ikke størrelsen på de solgte møller, men skriver i en kommentar, at det har haft en stærk vækst i USA målt på megawatt..

Brøndby-aktien banker til vejrs efter sejr over guldrival

20-04-2018 09:20:41
Aktien i Brøndby IF bliver sendt til vejrs med en stigning på 13,6 pct. til 1,25 kr. fredag morgen, efter at fodboldklubben torsdag aften vandt 3-2 på udebane over FC Midtjylland i Alka Superligaen.Med sejren fastholder Brøndby IF sin førsteplads i Alka Superligaen og har nu tre point ned til netop FC Midtjylland på andenpladsen. Der mangler at blive spillet seks runder, før sæsonen er slut i Alka..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

General Electric Company 14,54 3,9% Stigning i aktiekurs
ABB Ltd N 23,68 0,3% Stigning i aktiekurs
Bouygues 42,82 -0,1% Fald i aktiekurs
ABB Ltd 24,20 -0,3% Fald i aktiekurs
Alstom 38,03 0,9% Stigning i aktiekurs
ABB Ltd 205,40 0,4% Stigning i aktiekurs
General Electric 11,86 6,3% Stigning i aktiekurs
Siemens AG 129,18 -0,4% Fald i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2018  Disclaimer Cookie- og privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
22. april 2018 01:20:54
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: ReleaseBuild_20180417.1 - EUROWEB5 - 2018-04-22 01:20:54 - 2018-04-22 01:20:54 - 1 - Website: OKAY