Alstom

Alstom (formerly GEC-Alsthom) the French machine-building is a company. In September 2017, the company became the core of Siemens the -Alstom concern, which also included Siemens AG Siemens Mobility. Siemens received a little more than 50% of the shares.

As of March 2019, the company produces power generating equipment, railway locomotives, high-speed electric trains, trams, precipitators for industrial production.

History

2023

Transmashholding buys 20% of its shares from Alstom

In mid-November 2023, it became known that Transmashholding (TMH) was buying back 20% of its own shares from the French concern Alstom. After that, Alstom will completely withdraw from the TMH shareholders. Read more here.

Layoffs due to losses

On November 15, 2023, the French concern Alstom, specializing in the production of trains and trains, announced a restructuring aimed at improving the financial situation. During this process, the number of administrative personnel will decrease by about 10%.

Alstom's operations were negatively impacted by the complex macroeconomic situation, high inflation and market uncertainties. In the first half of the current financial year, which ended on September 30, 2023, the company's revenue amounted to €8.44 billion. This is 4.9% more than a year ago, when €8.05 billion was received. At the same time, the volume of orders on an annualized basis decreased by 16% - from €10.07 billion to €8.45 billion. In the first half of the 2022-2023 financial year, closed on September 30, 2022, Alstom suffered net losses of €21 million. In the first half of the 2023-2024 financial year, profits of about €1 million are shown.

Alstom announces restructuring

During the reorganization, Alstom intends to lay off approximately 1,500 workers. As of the end of March 2023, the total staff of the company exceeded 80 thousand people. Alstom is considering an additional offering of shares or convertible bonds to reduce debt. It is assumed that all these measures will help the company, which is the world's second largest train manufacturer after the Chinese CRRC, reduce debt by €2 billion by March 2025.

Alstom also reports a reshuffle in the top executive. Henri Poupart-Lafarge will step down as chairman of the board, but will retain his position as CEO. The new chairman of the board will be Philippe Petitcolin, the former CEO of Safran.^[1]

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