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Alstom SA ALO Stock Quote

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Morningstar‘s Stock Analysis ALO

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Alstom Maintains Guidance; Shares Remain Cheap

Joachim Kotze, CFA Equity Analyst

Analyst Note

| Joachim Kotze, CFA |

Narrow-moat Alstom reported first-half fiscal 2023 results in line with expectations. Order intake of EUR 10.1 billion declined by 1% organically, while sales grew by 5% on an organic basis. Adjusted EBIT increased by 18% driven by a 40-basis-point margin expansion to 4.9% as a result of synergy realization and mix shift, which was offset by inflation. We maintain our EUR 38 fair value estimate, which is predicated on the lower end of management’s medium-term guidance range. Shares appear attractive should these targets be met without the need for a capital raise.

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Key Statistics ALO

Company Profile ALO

Business Description

Alstom develops and markets systems, equipment and services for the railway transport sector including rolling stock, maintenance and modernization services, signaling and infrastructure, which are offered separately, bundled, or as fully integrated solutions. The company is one of the key international players in the industry with a strong position in European markets.

48, rue Albert Dhalenne, Saint-Ouen
Paris, 93400, France
T +33 157069000
Industry Railroads
Most Recent Earnings Mar 31, 2005
Fiscal Year End Mar 31, 2023
Employees 74,095

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