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Alstom cuts guidance on weak thermal power orders
January 21, 2014 / 6:21 AM / 4 years ago

Alstom cuts guidance on weak thermal power orders

PARIS, Jan 20 (Reuters) - French power and transport engineering firm Alstom lowered its annual profit and cash flow targets on Tuesday, blaming a slowdown in orders in thermal power.

The company maintained its full-year forecast of low-single digit organic sales growth but said it now expected a slightly lower operating margin of 7 percent and negative free cash flow in the second half.

Alstom had said in November it hoped larger orders and more upfront payments in the second half would help it reach positive free cash flow for the fiscal year and a stable operating margin at 7.2 percent.($1 = 0.7373 euros) (Reporting by Natalie Huet; Editing by Leila Abboud)

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