PARIS May 7 Alstom, the ailing French
industrial engineering group facing a politically charged
takeover battle for its power business, scrapped its dividend on
Wednesday as it said it burned cash and had a 10 percent drop in
orders in its full year.
Alstom, which makes electrical power generation and
transmission systems as well as trains and trams, reported
stable sales of 20.3 billion euros ($28.28 billion) for the year
ended March 31, while income from operations fell 3 percent to
Analysts polled by Reuters had on average expected sales of
20 billion euros and income from operations of 1.2 billion.
Free cash flow turned positive in the second half but the
group posted an outflow of 171 million euros for the fiscal full
Alstom did not provide any outlook or update on offers from
rivals General Electric and Siemens for its
power and grid business in its earnings statement.
($1 = 0.7177 Euros)
(Reporting by Natalie Huet; Editing by James Regan)