Alstom: Train manufacturer lowers forecast – share falls by 28 percent
Delayed regional trains - also for German states - cost the group penalty payments and margin. Alstom is announcing a restructuring and wants to reduce debt by around two billion euros.
French train manufacturer Alstom has cut its forecast for the second time this year. The company now expects an adjusted EBIT margin of around 1% for the current financial year, down from 6.5% previously. Alstom also expects a free cash outflow of €1.5 billion, and production will be around 4,000 vehicles, down from up to 4,500. The company's stock price fell 28.3% to €11.34 in early Paris trading.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Business figures: Alstom lowers forecast - shares plummet handelsblatt.com
