By Pierre Bertrand
Alstom reported on Wednesday an increase in nine-month sales and confirmed its fiscal-year targets.
The French train maker reported an 8% sales increase to 12.27 billion euros ($13.36 billion) in the nine months to December while orders jumped 6% to EUR15.22 billion.
Its sales for the third quarter came in at EUR4.22 billion compared with EUR3.92 billion in the prior year.
Alstom said its result was helped by the performance of its services division, particularly in the U.K., which booked EUR1.1 billion in services related to the completed Elizabeth line in London.
Its order backlog as of Dec. 31 stood at EUR84.6 billion, compared with the EUR77.8 billion during the first nine months of fiscal 2022.
Alstom confirmed its guidance for the rest of its fiscal year ending in March saying that it expects to achieve a book to bill ratio above 1, an adjusted earnings before interest and taxes margin between 5.1% and 5.3%. It added that it expects its free cash flow between EUR100 million and EUR300 million.
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