(AOF) – Following a call for tenders, Alstom and Metrorex, the operator of the Bucharest metro network, signed a maintenance services contract for a period of 15 years. The total contract amount estimated at 500 million euros is based on the estimated number of kilometers traveled by the trains in circulation. The services cover preventive and corrective maintenance, as well as overhauls for a total fleet of 82 trains at the signing of the contract.
“With this new long-term contract, Alstom will provide maintenance services for the Bucharest metro for the next 15 years. This new contract with Metrorex is a proof of the confidence shown by our client in our services and in us. are proud to have been selected as a preferred service partner. Today, Alstom has concluded more than 50 maintenance contracts around the world for periods of 20 years or more, covering more than 35,000 vehicles. are committed to providing maintenance services to the highest standards in order to provide travelers with safe, reliable and comfortable transportation, “said Gian Luca Erbacci, President of the Europe region.
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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 decarbonization strategy for 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.