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Alstom SA (ALO.PA)

Paris - Paris Delayed Price. Currency in EUR
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47.33+0.08 (+0.17%)
At close: 5:35PM CEST
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Neutralpattern detected
Previous Close47.25
Bid0.00 x 0
Ask0.00 x 0
Day's Range46.61 - 47.54
52 Week Range29.73 - 50.64
Avg. Volume734,978
Market Cap10.738B
Beta (5Y Monthly)0.69
PE Ratio (TTM)22.94
EPS (TTM)2.06
Earnings DateNov 04, 2020 - Nov 09, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateJul 15, 2019
1y Target Est42.28
  • Bloomberg

    Nelson Peltz's Trian Trims Its GE Stake. Can You Blame It?

    (Bloomberg Opinion) -- The aerospace sector is headed for “a slow, multi-year recovery,” General Electric Co. Chief Executive Officer Larry Culp warned on last month’s second-quarter earnings call. There’s nothing unique about that view: Boeing Co. has said it will take about three years for air-travel demand to recover to 2019 levels; Raytheon Technologies Corp. is targeting 2023; and the International Air Transport Association recently pushed back its timeline for a recovery to 2024.The slump is particularly painful for GE, though. Unlike many of its rivals in the market for airplane production, it was already in the middle of a multi-year turnaround before the pandemic hit. The news that influential shareholder Trian Fund Management  — led by Nelson Peltz — is trimming its position in the industrial giant should be viewed in that context.Trian cut its stake in GE by 46% during the last week to just over 32 million shares, according to regulatory filings. The sale was for “portfolio management purposes, including to provide for new positions,” Trian said in an emailed statement. Even with the divestiture, the fund remains relatively high up on GE’s shareholder register and chief investment officer Ed Garden will continue to serve on GE’s board. So Trian is hardly abandoning the investment, nor has it given up hope of a recovery. “Trian is highly supportive of GE CEO Larry Culp and his team’s restructuring efforts and focus on creating long term value,” the fund said. Still, it’s a tough time to be selling.GE shares are down more than 40% this year, compared with a nearly 4% gain for the S&P 500 Index. Trian’s average price for the sales was just over $6, a nearly 75% discount to the mid-$20 range where GE was trading during the month leading up to the fund’s October 2015 announcement of its investment.Back then, Trian argued the market wasn’t appreciating the “bold steps” that former CEO Jeff Immelt had taken to reshape the company and touted the “defensive growth” profile. By improving operating margins and adding $20 billion of debt to help fund share buybacks, the stock could trade for $40 to $45, Trian argued. It never came close.GE has since been bogged down by tens of billions in writedowns, with the brunt tied to a steep funding shortfall in its long-term care insurance business and an ill-timed acquisition of Alstom SA’s power business that increased the company’s position in the gas turbine market just as demand began to rapidly deteriorate. Immelt’s replacement, John Flannery, was pushed out and Culp took his place in late 2018. Buybacks are out of the question, with the company having instead spent the past few years doing everything it can to reduce a debt load that became untenable as the power business burned through cash.Culp was just starting to show progress on a turnaround of the embattled power unit when the pandemic arrived, with the high-margin and cash-flow generating pharmaceutical diagnostics and aviation units getting crushed the hardest. The company has recorded a cash outflow of more than $4 billion so far in 2020 and Culp was hesitant to give a firm commitment to a positive number for the second half of the year, which is typically when GE makes most of its money. Will GE survive the crisis? Yes, and it’s to Culp’s credit that’s the case. He has aggressively cut costs, accelerated asset sales and generally done a much better job fixing this massive enterprise than critics like myself thought was possible when he started. But what will the company look like on the other side of this?Siemens Healthineers AG’s announcement of a $16 billion purchase of cancer radiotherapy company Varian Medical Systems Inc. earlier this week speaks to the risk of missed opportunities. The Varian deal is pricey and risky with hospitals cutting their budgets to adapt to the pandemic. But the combination of Siemens Healthineers’ diagnostics expertise and Varian's treatment technology is strategically intriguing over the long haul and the takeover could end up being opportunistic. In a different world, this deal might have been GE’s to lose. After all, the CEO of Varian is a former GE Healthcare executive. As it is, the company is effectively side-lined from any kind of major M&A for the foreseeable future.Culp likes to talk about getting GE to a place where it can “play offense.” But the timeline for doing that has been pushed out indeterminately by the pandemic. In the meantime, there are more attractive places that both Trian and other investors can put their money. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Big U.S. Funds Including Apollo Join as Lenders on $1 Billion Bombardier Loan

    (Bloomberg) -- Apollo Global Management and Ares Management have joined HPS Investment Partners as lenders to Canadian plane maker Bombardier Inc., according to people familiar with the matter.Apollo and Ares each now hold about 20% of a $1 billion loan Bombardier said it obtained late last month, according to the people, who asked not to be identified discussing a private matter. HPS, agent on the debt, retained majority control of about 60% of the three-year senior secured loan that it had committed to provide, the people said.Bombardier referred all questions on the matter to HPS. Representatives for both HPS and Apollo declined to comment, while Ares didn’t immediately respond to requests for comment.Alternative lenders are increasingly providing larger loans to borrowers, and potentially taking away share from the leveraged loan and high-yield bond markets in the process. European insurance brokerage Ardonagh Group and newspaper company Gannett Co. both sealed jumbo private debt deals within approximately the past year.Read more: Billion Dollar Deals See Private Credit Step Out of the ShadowsBombardier intends to use the facility, which has a minimum utilization of $750 million and no financial covenants, to operate during the Covid-19 pandemic as it works to offload certain assets.Disruptions to the company’s operations in the wake of the coronavirus pandemic have led to a high level of cash burn. The company announced earlier this year that it would focus on business aviation and deleverage through the sale of its rail business.Alstom SA recently won conditional approval for its 6.2 billion euro ($7.3 billion) takeover of Bombardier’s rail-transport operations.Montreal-based Bombardier is set to report earnings on Thursday. As of June 30, its cash on hand and liquidity were $1.7 billion and $2.4 billion, respectively.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • GlobeNewswire

    ALSTOM SA: Disclosure of the total number of voting rights and shares forming the share capital as at 31 July 2020

    4 August 2020Disclosure of the total number of voting rights and shares forming the share capital as at 31 July 2020Information pursuant to article L. 233-8 II of the Code de commerce and articles 223-16 and 223-11 of the AMF General regulation (Règlement général de l’Autorité des marchés financiers)  Date Number of shares with a nominal value of €7 Gross number of voting rights 31 July 2020 226,867,161 261,563,732   About Alstom     Leading the way to greener and smarter mobility worldwide, Alstom develops and markets integrated systems that provide the sustainable foundations for the future of transportation. Alstom offers a complete range of equipment and services, from high-speed trains, metros, trams and e-buses to integrated systems, customised services, infrastructure, signalling and digital mobility solutions. Alstom recorded sales of €8.2 billion and booked orders of €9.9 billion in the 2019/20 fiscal year. Headquartered in France, Alstom is present in over 60 countries and employs 38,900 people.       Contacts Press: Coralie COLLET - Tel.: +33 (0)1 57 06 18 81 coralie.collet@alstomgroup.com Samuel MILLER - Tel.: +33 (0)1 57 06 67 74 samuel.miller@alstomgroup.com Investor relations: Julie MOREL - Tel.: +33 (0)6 67 61 88 58 julie.morel@alstomgroup.com         Attachment * 2020.07.31 ALSTOM monthly dec