Alstoms orderingång steg till 5,5 miljarder euro efter framgångar på tillväxtmarknaderna
20 januari 2011
Under det tredje kvartalet 2010/11, Alstoms orderingång steg till 5,5 miljarder euro efter framgångar på tillväxtmarknaderna
Under det tredje kvartalet 2010/11 (från 1 oktober 2010 till 31 december 2010), noterade Alstom den högsta orderingången sedan det första kvartalet 2009/10. Under perioden bokades ordrar värda totalt 5,5 miljarder euro, ett resultat som möjliggjorts tack vare den starka efterfrågan på tillväxtmarknaderna, som motsvarade 60 procent av den totala orderingången under perioden.
Under de senaste kvartalen levererade Transport- och Powerverksamheterna en ökad orderingång på över 2,8 miljarder euro respektive 1,6 miljarder euro, medan Gridverksamheten ligger på en stadig nivå på 1 miljard euro. Med en fakturering på 5,2 miljarder under det tredje kvartalet 2010/11, uppnådde koncernen ett nyckeltal för förhållandet fakturering/orderingång som överstiger 1 för första gången på de senaste två åren.
Under de första nio månaderna 2010/11 (från 1 april 2010 till 31 december 2010), uppnådde Alstom en orderingång på 12,5 miljarder euro, inkluderande 2,4 miljarder euro för Gridverksamheten (konsoliderat från den 1 juni 2010), vilket tillsammans motsvarar en ökning på 10% jämfört med samma period föregående år. Koncernens fakturering uppgick till 15,7 miljarder euro, varav 2,7 miljarder euro kommer från Gridverksamheten. Totalt motsvarar det en ökning med 9% jämfört med de första nio månaderna 2009/10. Med Grid borträknat uppgick koncernens orderingång och fakturering till 10,1 miljarder euro respektive 13 miljarder euro, en minskning med 10 procent jämfört med de första nio månaderna 2009/10. Den 31 december uppgick orderstocken till 46,2 miljarder euro, vilket motsvarar två års fakturering.
"Stärkt av en kontinuerlig efterfrågan på tillväxtmarknaderna, nådde Alstom under det tredje kvartalet 2010/11, det bästa kvartalsresultatet avseende orderingång sedan juli 2009. Koncernen uppnådde därmed ett nyckeltal för förhållandet fakturering / orderingång som överstiger 1 för första gången på de senaste två åren. Denna kommersiella förbättring bör ge resultat under det fjärde kvartalet, då orderingången förväntas öka ytterligare. Vår stärkta närvaro på de snabbväxande marknaderna, våra ledande teknologier och bekräftade styrkor inom service är viktiga tillgångar för koncernen i vår nuvarande konkurrensutsatta situation" säger Patrick Kron, Alstoms styrelseordförande och vd.
Följande sidor innehåller utförlig information på engelska om de olika verksamheternas resultat, samt information om presskontakter.
Key figures
Actual figures
2009/10
2010/11
2009/10
2010/11 Var. % (in € million) Q1 Q2 Q3 Q4
Q1 Q2 Q3
9 months 9 months Incl. Grid Excl. Grid Orders received 4,768 2,366 4,223 3,562
3,491 3,547 5,490
11,357 12,528 +10 % -11% Sales 4,806 4,877 4,691 5,276
5,166 5,266 5,244
14,374 15,676 +9% -10%
- Orders and sales for Alstom Grid are consolidated from June to December 2010. Q1 figures, including one month of consolidation (June 2010), were not released in the Q1 2010/11 results.
-The reported figures by Sector are presented in Appendix 1. A geographic breakdown of reported orders and sales is provided in Appendix 2. As for all figures mentioned in this release, these are unaudited.
Sector Review Power After the very low point of the first half of 2010/11, Power orders rebounded during the third quarter at €2.8 billion. Main successes were recorded in emerging markets, mainly in Asia, where the demand for new equipment was robust. Thermal Systems & Products booked orders for three gas power plants in Singapore and India, an additional boiler in India, as well as Environmental Control Systems contracts in China and in Vietnam. Thermal Service recorded a very strong quarter at €1.6 billion which included operation and maintenance contracts related to the booked turnkey projects, a retrofit contract for a coal power plant in Poland, a renovation order for the nuclear fleet in France and a good flow of small and medium size service orders. In the Renewable business, projects for hydro power plants in China, Colombia and Turkey were the main orders taken. Over the third quarter, Power sales were down at €2.7 billion versus €3.2 billion for the same period last year due to the expected decline of sales in Thermal Systems & Products. Power Sector achieved a book-to-bill ratio over 1 in the third quarter 2010/11 for the first time in two years. For the first nine months of 2010/11, Power order intake amounted to €6.5 billion, a 12% decrease compared to the same period last year when it stood at €7.4 billion. This evolution highlights the weak demand for thermal new equipment in mature markets, where utilities have been postponing some large investments. Sales for the first nine months of 2010/11 were at €8.6 billion, a 14% decrease in comparison to last year, due to the low volume of order intake over the past period.
Transport The orders booked during the third quarter 2010/11 amounted to €1.6 billion, a strong improvement compared to the level of the first half. Very high speed trains in Morocco, metro projects in Montreal (Canada) and Panama City, suburban trains in São Paulo (Brazil) and regional trains in France were the main orders received. Over the first nine months of 2010/11, Transport orders stood at €3.6 billion, a 8% decrease compared to the same period last year. Sales reached €4.3 billion, including €1.4 billion for the third quarter, up by 1% compared to the first nine months 2009/10. Grid During the third quarter of 2010/11, Grid maintained a robust volume of orders booked at €1 billion. The transmission market is showing a rebound in most regions compared to last year. In Europe, the wind sector is active and Grid secured a large order in Germany. In the Middle-East, the Sector recorded contracts for substations in Saudi Arabia and the United Arab Emirates. In the Russian market, which is showing signs of recovery, Grid also booked an order for a substation.
Since the consolidation of Grid in June 2010, the Sector has generated €2.7 billion of sales, including €1.2 billion for the third quarter.
Key events of the third quarter During the third quarter, Alstom further strengthened its position on the emerging markets across its portfolio of activities. In China, Alstom inaugurated on 4 November a new extension of its largest hydropower manufacturing facility at Tianjin, reinforcing its leading position on this fast growing market. This new carbon-neutral factory, the first one in China, will also house a technology centre where Alstom will carry out R&D activities and test turbines developed for its customers. In Transport, Alstom signed on 7 December with the Ministry of Railways a cooperation agreement to address, with its Chinese industrial partners, main lines projects on domestic and defined export markets. This agreement took place a few weeks after Alstom signed a memorandum of understanding with China CNR Corporation Ltd. to develop cooperation for mass transit projects in China.
In Russia, Alstom signed on 9 December several strategic agreements with major Russian electricity production and transmission companies. In hydro, cooperation in manufacturing as well as R&D activities with Rushydro targets the modernisation of the installed base. In nuclear and thermal, new agreements with Rosatom and Inter RAO will further support Alstoms participation in the development of nuclear and fossil fuel power in the country. The agreement signed between Alstom Grid and FSK, the Russian Grid federal operator, will focus on the grid improvement, including the introduction of smart grids technologies. On the Transport side, in December, Alstoms "Allegro" high speed trains successfully entered into commercial operation on the Saint-Petersburg-Helsinki line, positively positioning the Group on Russias high speed market. In India, the Group kept on developing its local industrial capabilities. Together with its partner Bharat Forge, Alstom is building a factory in Mundra (Gujarat) for manufacturing steam turbines and generators, and will soon erect near Chennai a factory for mass transit rolling stock to serve the local market. In Brazil, the wind turbine assembly factory located in the State of Bahia is under completion; along with the Taubate factory for hydro power equipments, it will allow Alstom to further penetrate the Renewable market in Latin America.
Financial situation The Groups financial situation remains sound. In October 2010, Alstom further consolidated its liquidity position with the issuance of two new bonds for €1 billion. Outlook Based on its solid backlog, the Group confirms that the operating margin for fiscal years 2010/11 and 2011/12 should be within a 7% to 8% bracket.
**
Press Contact
Philippe Kasse, Stéphane Farhi (Corporate) Tel: +33 1 41 49 29 82 / 33 08 philippe.kasse@chq.alstom.com stephane.farhi@chq.alstom.com
Investor Relations
Emmanuelle Châtelain, Juliette Langlais Tel: + 33 1 41 49 37 38 / 21 36 Investor.relations@chq.alstom.com
This press release contains forward-looking statements which are based on current plans and forecasts of Alstoms management. Such forward- looking statements are by their nature subject to a number of important risk and uncertainty factors (such as those described in the documents filed by Alstom with the French AMF) that could cause actual results to differ from the plans, objectives and expectations expressed in such forward-looking statements. These such forward-looking statements speak only as of the date on which they are made, and Alstom undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
APPENDIX 1 – SECTOR BREAKDOWN BY QUARTER
2009/10
2010/11
2009/10 2010/11 Var. % Orders received Q1 Q2 Q3 Q4
Q1 Q2 Q3
9 months 9 months Var. Actua l Var. Org.* * (in € million)
Power 3,000 1,731 2,652 2,052
1,950 1,681 2,835
7,383 6,466 -12% -16% Thermal Systems & Products* 1,414 435 1,837 604
405 468 990
3,686 1,863 -49% -51% Thermal Services* 1,203 970 573 1,272
1,203 805 1,564
2,746 3,572 +30% +23% Renewables* 383 326 242 176
342 408 281
951 1,031 +8% +9% Transport 1,768 635 1,571 1,510
1,119 888 1,632
3,974 3,639 -8% -11% Grid*** - - - -
422 978 1,023
- 2,423 - - Alstom 4,768 2,366 4,223 3,562
3,491 3,547 5,490
11,357 12,528 +10% -14%
2009/10
2010/11
2009/10 2010/11 Var. % Sales Q1 Q2 Q3 Q4
Q1 Q2 Q3
9 months 9 months Var. Actua l Var. Org.* * (in € million)
Power 3,368 3,527 3,217 3,789
3,170 2,818 2,659
10,112 8,647 -14% -18% Thermal Systems & Products* 1,766 2,010 1,803 2,167
1,574 1,406 1,192
5,579 4,172 -25% -28% Thermal Services* 1,184 1,039 973 1,157
1,187 1,030 989
3,196 3,206 0% -5% Renewables* 418 478 441 465
409 382 478
1,337 1,269 -5% -9% Transport 1,438 1,350 1,474 1,487
1,573 1,344 1,399
4,262 4,316 +1% -2% Grid*** - - - -
423 1,104 1,186
- 2,713 - - Alstom 4,806 4,877 4,691 5,276
5,166 5,266 5,244
14,374 15,676 +9% -13% (*) Figures given for comparison and analysis purposes only. (**) Organic are excluding any currency & scope impacts. (***) Grid is consolidated over 7 months. APPENDIX 2 – GEOGRAPHIC BREAKDOWN
Orders received by destination 2009/10 % 2010/11 % (in € million) 9 months Contrib .
9 months Contrib.
Europe 7,271 64% 4,683 37% North America 1,491 13% 1,952 16% South & Central America 653 6% 1,075 9% Africa / Middle East 631 6% 1,689 13% Asia / Pacific 1,311 11% 3,129 25% TOTAL 11,357 100% 12,528 100%
Sales by destination 2009/10 % 2010/11 % (in € million) 9 months Contrib .
9 months Contrib.
Europe 7,324 51% 7,197 46% North America 2,001 14% 1,842 12% South & Central America 710 5% 1,276 8% Africa / Middle East 2,716 19% 2,681 17% Asia / Pacific 1,623 11% 2,680 17% TOTAL 14,374 100% 15,676 100%
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