AOMFF - Alstom SA (ALSMY) Q3 2023 Earnings Call Transcript
2024-01-24 09:10:27 ET
Alstom SA (ALSMY)
Q4 2023 Earnings Conference Call
January 24, 2024 02:30 AM ET
Company Participants
Bernard Delpit - Chief Financial Officer
Conference Call Participants
Delphine Brault - ODDO
Martin Wilkie - Citi
Daniela Costa - Goldman Sachs
Alasdair Leslie - Societe Generale
Vlad Sergievskii - Barclays
Andre Kukhnin - UBS
James Moore - Redburn
Akash Gupta - JPMorgan
Gael de-Bray - Deutsche Bank
William Mackie - Kepler
Jonathan Mounsey - BNP Paribas Exane
Presentation
Bernard Delpit
Good morning, everyone, and last opportunity for me to wish you a Happy New Year. Welcome to Alstom's Webcast dedicated to the Third Quarter of the Fiscal Year 2023/2024. I'll start by sharing the key highlights for the periods orders and sales, before giving an update on the company action plan presented in November.
Starting with the order intake Slide 3. Order intake totaled €5.5 billion in Q3 and now €13.9 billion year-to-date. Commercial momentum in Q3 was good, particularly in Europe, Australia, and in the Middle East. Services and systems continued to deliver a strong book-to-bill.
We also saw a good performance of small orders with order intakes above €2 billion in the quarter, which is good for profit and cash. Small orders represents 17% of order into year-to-date above last year mix. Backlog remains stable at €90 billion with positive book-to-bill offset by negative FX trends.
My second comment is that overall we are very satisfied with the quality of this order intake. The margin on orders continues to largely exceed the margin traded in the P&L. And it is fully consistent with midterm objective both in terms of margin and cash. As a result, margin in backlog is improving, supporting our trajectory of profitable growth. It has improved again in Q3.
Looking ahead, we expect this positive momentum to continue in Q4 and in the next quarters, in particular on service and systems. A number of deals have been announced, but are not yet booked like AlUla tram system in Saudi Arabia, our monorail in the Dominican Republic, and we have a good flow of small orders....
Alstom SA (ALSMY) Q3 2023 Earnings Call Transcript