Alstom Profits Rise as Market Remains Slow

15 July 2009 (Last Updated July 15th, 2009 18:30)

French power and transport engineering group Alstom SA recorded an increase in sales for the first quarter of the 2009/2010 fiscal year, but warned the market was still moving slow due to the current economic climate. Alstom reported sales of €4.8bn for the first quarter of fiscal 2009/

French power and transport engineering group Alstom SA recorded an increase in sales for the first quarter of the 2009/2010 fiscal year, but warned the market was still moving slow due to the current economic climate.

Alstom reported sales of €4.8bn for the first quarter of fiscal 2009/10, up 7%, compared with €4.5bn in the same quarter last year.

Orders of €4.76bn were received by the company overall for the first quarter of fiscal 2009/10, down 27% on last year’s figures.

Alstom’s power devision received orders of €3bn, with commercial successes in gas, steam and hydro with an increase in sales of 9% as orders booked in past quarters were carried out.

Alstom chairman and CEO Patrick Kron said the market was still be slow to pick up in the power industry, with future plans being delayed as a result of the current economic environment.

“Despite the very challenging environment, Alstom managed to record a satisfactory level of orders,” Kron said.

“In power generation, the new equipment market should continue to be impacted by delays in the decision making of customers on future power plants.

“The progressive delivery of orders in hand translated into higher sales, up by 7%.”