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As it battles to cut its debt pile, leading train manufacturer Alstom announces plans to raise €1 billion. Euronews looks into Alstom’s business across Europe.
ADVERTISEMENTThe French company Alstom, owner of Britain’s largest train factory, intends to raise €1.75 billion to alleviate its debt burden. This effort includes the sale of shares and bonds, along with €700 million from planned sales, and is aimed at safeguarding the credit rating of the Litchurch Lane plant owner in Derby. “Alstom is now set on stronger foundations to deliver sustainable profit and cash generation,” Alstom Chief Executive Officer Henri Poupart-Lafarge said in a statement.Alstom recorded €11.3 billion in orders in Europe during the fiscal year 2023/24, down from €12.8 billion the previous year. There have been fears over the past year of potential job losses at the company, which employs around 80,000 people worldwide. However, the implementation of new operational strategies may strengthen job security for employees.In Europe, the company has secured various contracts and extensions, including agreements valued at approximately €950 million in the UK, more than €800 million in France, and involvement in the construction of a metro line in Romania.”The Group is capitalising on the solid operational progress made over the last three years and is launching new initiatives to improve its industrial performance and reduce overheads and indirect procurement costs,” Poupart-Lafarge said.Alstom, the second-largest train manufacturer globally, behind China’s CRRC, reported a profit of €997 million for the fiscal year ending in March, marking a 17% increase. The company’s net debt stands at approximately €3 billion.
