(AOF) – Alstom has won a new order to supply DB Regio with 17 modern high-capacity EMU-type Coradia Stream trains for the Main-Weser network in Germany. The 13 four-car trainsets and the four five-car trainsets will be operated on the Main-Weser secondary network, which connects the cities of Frankfurt, Giessen, Marburg and Kassel. Commissioning is scheduled for December 15, 2024. This order, the amount of which has not been communicated, is recorded in Alstom’s fourth quarter 2021-2022 accounts.
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= / Key points / =
– World leader in rail transport, from trams and metros to TGVs;
– Activities of € 8.8 billion at the end of the 2020-2021 fiscal year;
– Offer covering all trades in railway construction: rolling stock for 48% of sales, signaling for 18%, systems for 16% and services (maintenance, remote control of vehicles, networks, passengers, etc.) for 18%;
– Business model based on the complementarity of geographic areas between Alstom
– France, Italy, Spain, India, South East Asia, North Africa and Brazil – and Bombardier Transport – United Kingdom, Germany, Scandinavia, China and North America;
– Open capital, 17.5% owned by the Caisse de dépôt et placement du Québec and 6% by Bouygues, the 13-member board of directors being chaired by Henri Poupart-Lafarge, CEO;
– Solid balance sheet with € 9.2 billion in equity and € 4.5 billion in cash.
= / Issues / =
– Innovation strategy based on more than 10,000 patents:
– axes: energy efficiency, road electro-mobility, sustainable design and production, autonomous train, data management and multimodality,
– innovation ecosystems: industrial partnerships, with start-ups via the Aster fund, with suppliers via the Alliance program and participation in the European Shift2Rail program,
– internally: intra-entrepreneurship with the I nove you competition,
– Environmental strategy for decarbonization of the activity:
– linked to innovation (green locomotives, road electromobility, eco-design, etc.) and integrated into the overall strategy with positioning on electric rail solutions and the offer of sustainable and low-carbon mobility solutions,
– increase in natural capital: 36% renewable electricity, 88% recycled waste, 28% recycled metro materials, 14% reduction in CO2 emissions between 2014 and 2020, etc.;
– Quick departure in hydrogen trains;
– In addition to Bombardier, integration of recent acquisitions – Hylion Hydrogen power, Flertex, Shunter, B&C Transit:
– Good visibility (see order book) supported worldwide by investment plans in rail and green mobility.
= / Challenges / =
– Execution of synergies from the merger with Bombardier – € 400 million over 5 years – and positive impact on 2023 profit;
– Sharp disparities in margins between Alstom and Bombardier, less profitable;
– Risks of loss of French managerial control with the transfer of the head office to Montreal;
– Impact of the pandemic: decline of 4% in half-yearly income and 45% in net income;
– Dividend of € 0.25 for 2020-2021, payable in shares.